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SBT revises FCNR interest rates

Posted on Nov 03, 09:39PM | UNI

State Bank of Travancore (SBT) has announced a revision in interest rates for FCNR deposits with effect from today.

As per the revision, interest rate for FCNR deposits in US Dollars will be 2.88pc for a period of 1 year to less than 2 years, 2.40pc for 2 years to less than 3 years, 3.52pc for 3 years to less than 4 years, 3.68pc for 4 years to less than 5 years and 3.87pc for 5 years, according to the Bank's press release here.

For deposits in Pound Sterling, the corresponding rates will be 3.10pc , 2.71pc , 3.79pc , 3.92pc and 4.08pc .

The corresponding rates for deposits in Euro will be 2.55pc , 2.49pc , 3.62pc , 3.78pc and 3.99pc .

Interest rate for RFC Term Deposits for 6 months to less than one year will be 1pc , 1 year to less than 2 years 2.88pc , 2 years to less than 3 years 2.40pc and for 3 years 3.52pc .