Bank has Revised Interest Rates on FCNR(B) Deposits in US Dollars, GBP, EURO, CAD and AUD. New rates are given below with effect from 01.02.2012.
|
1 |
USD |
1 year and above but less than 2 years |
2.38 |
2.35 |
| 2 years and above but less than 3 years |
2.00 |
1.78 |
| 3 years and above but less than 4 years |
2.11 |
1.87 |
| 4 years and above but less than 5 years |
2.30 |
2.06 |
| 5 years only |
2.51 |
2.30 |
|
2 |
GBP |
1 year 1 day |
3.12 |
3.14 |
|
3 |
EURO |
1 year 1 day |
3.16 |
2.98 |
|
4 |
CAD |
1 year 1 day |
3.06 |
3.12 |
|
5 |
AUD |
1 year 1 day |
6.13 |
6.13 |
It may be noted that FCNR(B) Deposits in GBP, Euro, CAD and AUD shall be accepted for only 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.
Rates of Interest on Non Resident Rupee Term Deposits A/C's
Bank has Revised Interest Rates on NRE Rupee Term Deposit A/cs. New Rates are given below with effect from 29.12.2011.
| One year & above and less than 2 years |
3.82 |
9.35 |
| 2 years & above and but less than 3 years |
3.51 |
9.35 |
| 3 years & above but upto 5 years |
3.64 |
9.25 |
The revised interest rate shall apply to both fresh NRE term deposits and renewals of existing NRE term Deposits w.e.f. 29.12.2011 | 
