State Bank of India (SBI) today hiked its interest rates on foreign currency non-resident bank deposits and non-resident external rupee term deposits with immediate effect.
FCNR(B) deposits in US dollar having one year to less than two years maturity will now attract a rate of 1.92 per cent (1.84 per cent), while deposits for 2 years to less than 3 years will carry a rate of 2.24 per cent (2.08 per cent), the bank said in a release.
Similarly, deposits with 3-4 years, 4-5 years, and 5 years tenures will carry rates of 2.84 per cent(2.69 per cent), 3.34 per cent (3.20 per cent) and 3.75 per cent (3.62 per cent) respectively, the bank said.
Rates for deposits in Euro, in 1-2 years and 2-3 years have been revised to 2.19 per cent (2.20) and 2.49 per cent (2.45 per cent) respectively, the bank said.
Interest rates for NRE deposits in 1-2 years, 2-3 years and 3-5 years tenures have been revised to 2.67 per cent (2.59 per cent), 2.99 per cent (2.83 per cent) and 3.59 per cent (3.44 per cent) respectively, the bank said.
