| SBI is offering 40-50 basis points more than the interest offered on foreign currency non-resident (FCNR) deposits under SBI Supreme - one of the products launched by the bank. |
| The bank has also rolled out a customised structured offering including a targeted return option under the Relax & Gain option. |
| The other product Dollar Premium is a dollar FCNR account with a forward cover for the rupee and will be offered at branches locally. |
| The product is for depositors who agree to receive their dollar FCNR in rupees. |
| SBI offers 4.01 to 4.37 per cent on FCNR deposits depending on the maturity period. However, details about the rate of return on its fourth product called SBI Select, a multi-currency option deposits, were not revealed. |
| SBI on its Website said initial yields are more attractive than the average market return on its Relax & Gain option, which will be offered at select foreign branches. |
| The scheme is specially created to meet the depositors' financial needs that cannot be met from regular deposit products available in the market. |
| Relax & Gain offers enhanced yields and will carry a call option or a targeted return. The bank, however, did not explain what it meant by targeted return. |
| THE MENU |
| SBI SUPREME Interest rate of 40-50 bps above FCNR rates |
| RELAX & GAIN Structured deposits with targeted returns to meet financial |
| DOLLAR PREMIUM A dollar FCNR account with a forward cover for rupee |
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