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Central Bank revises NRE, FCNR (B) rates

MUMBAI: Central Bank of India has increased interest rates on NRE and FCNR (B) deposits across all maturities with effect from January 1. The rates on NRE term deposits have been revised for one year to less than two years to 6.33 per cent from 6.24 per cent, for two years to less than three years to 6.16 per cent (6 p.c.) and for three years to 6.08 per cent (5.91 p.c.), the bank said in a release. For FCNR (B) deposits, the rates have been revised to 5.33 per cent from 5.24 per cent for one year to less than two years, 5.16 per cent from 5 p.c. for two years to less than three years. The rates for other maturities also have been revised, the release added.

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