State Bank of Travancore yesterday announced a revision in interest rates for FCNR deposits with immediate effect.
In a release, the bank said that the interest rate for FCNR deposits in US dollars will be 2.69 per cent for a period of one year to less than two years, 2.45 per cent for two years to less than three years, 3.64 per cent for three years to less than four years, 3.90 per cent for four years to less than five years and 4.16 per cent for 5 years.
For deposits in Pound Sterling, the corresponding rates will be 2.88 per cent, 2.68 per cent, 3.78 per cent, 3.96 per cent and 4.15 per cent.
The corresponding rates for deposits in Euro will be 2.39 per cent, 2.43 per cent, 3.57 per cent, 3.74 per cent and 3.93 per cent, a bank release said here today.
Interest rate for RFC Term Deposits for 6 months to less than one year will be One per cent, One year to less than two years 2.69 per cent, two years to less than 3 years 2.45 per cent and for 3 years 3.64 per cent, the release said.