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SBI raises foreign currency deposit rates

MUMBAI: State Bank of India hiked the interest rates on foreign currency non-resident bank account deposits and non-resident external term deposits with effect from June 1. FCNR (B) deposits in U.S. dollar, having maturity of 1-2 years, would now attract an interest rate of 2.41 per cent against 2.33 per cent earlier. The bank has also revised the rates for other maturity periods. For NRE deposits having a maturity 1-2 years, it has revised the rates to 3.16 per cent (3.08 per cent). The rates for other maturities have also been raised, reports PTI.

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