The Current Interest Rates on FCNR(B) Deposits in US Dollars, GBP, EURO, CAD and AUD are given below:
|
1 |
USD |
1 year and above but less than 2 years |
2.70 |
| 2 years and above but less than 3 years |
2.36 |
| 3 years and above but less than 4 years |
3.45 |
| 4 years and above but less than 5 years |
3.60 |
| 5 years only |
3.82 |
|
2 |
GBP |
1 year 1 day |
2.89 |
|
3 |
EURO |
1 year 1 day |
2.40 |
|
4 |
CAD |
1 year 1 day |
3.76 |
|
5 |
AUD |
1 year 1 day |
5.51 |
It may be noted that FCNR (B) Deposits in GBP,EUR,CAD and AUD shall be accepted only for one maturity i.e. one year and one day. However, FCNR(B) Deposits denominated in USD may be accepted for a maximum period of 5 years.
Compounding effect on interest can be given only if deposits are kept for minimum period of one year and one day.
Above rates are applicable to RFC(TD) also. There is no change in the existing rates for RFC(SB).
All other terms and conditions remain unchanged.
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