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Rate of Interest on FCNR (B) Deposits |
Interest Rates on Deposits Held
Under FCNR (B)/RFC/NRE Term Deposit Schemes
It has now been decided to quote rates of interest for FCNR (B)
deposits, RFC & NRE term deposits w.e.f. 17.11.2008, detailed as
under: |
|
FCNR(B) Deposits |
| |
Revised
(w.e.f. 17.11.2008 % p.a.)
|
|
USD |
GBP
|
Euro |
CAD |
AUD |
| 1 year & above but less than 2
years |
4.17 |
7.01 |
5.87 |
4.17 |
7.28 |
| 2 years & above but less than 3
years |
3.66 |
5.18 |
4.59 |
3.26 |
6.14 |
| 3 years & above but less than 4 years |
4.14 |
5.32 |
4.70 |
3.52 |
6.44 |
| 4 years & above but less than 5 years |
4.49 |
5.42 |
4.81 |
3.70 |
6.66 |
| 5 years only |
4.76 |
5.51 |
4.91 |
3.89 |
6.72 |
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RFC Term Deposits in USD
The rates for one to three year
maturities are the same as applicable to FCNR (B) deposit.
NRE Term Deposit Rates
The rate of interest on NRE term deposits
effective 17.11.2008 are revised as under:
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Maturity Period |
Revised % p.a. |
| (a) |
1 year and above but
less than 2 years |
4.92 |
| (b) |
2 years and above but less than 3
years |
4.41 |
| (c) |
3 years to 5 years |
4.89 |
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