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  • Central Bank of India revises interest rates on NRE/FCNR-B/RFC deposits

    Published on October 3, 2011

    by NR INDRAN / INT

    Central Bank of India has revised the rate of interest on NRE/FCNR-B/RFC deposits. The rates will be effective for all fresh deposits as well as renewal of existing deposits w.e.f. 01.10.2011.

    Revised interest rates, applicable to fresh deposits accepted / renewals made on or after OCTOBER 01, 2011 will be as under:

    NRE Deposit Interest Rates:

    Period of NRE Deposit Interest rate % p.a.
    1 Year to less than 2 years 2.61
    2 Years to less than 3 years 2.31
    3 years only 2.47
    NRE Savings Bank Remains unchanged at 4.00 %

    ………..2

    FCNR(B) Deposit Interest Rates % p.a.

    Period of deposit USD GBP EUR CAD AUD
    1 year to less than 2 years 1.86 2.72 3.04 2.67 6.04
    2 years to less than 3 years 1.56 2.29 2.52 1.99 5.03
    3 years to less than 4 years 1.72 2.41 2.61 2.17 5.14
    4 years to less than 5 years 1.98 2.61 2.80 2.35 5.37
    5 years only 2.24 2.80 2.99 2.54 5.50
    Overdue Deposit 0.86 1.72 2.04 1.67 5.04

    RFC (USD) DEPOSIT Interest Rates

    Period of USD deposit % p.a.
    6 months to less than 12 months & Savings A/c. 0.86

    You can contact author @ [email protected]

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