The Hindu Business Line : Banks raise NRE, FCNR rates

Banks such as Dena Bank, Union Bank of India, Central Bank of India and Bank of India Bank have raised interest rates on the NRE and the FCNR (B) deposits across various maturities with immediate effect.

Dena Bank

Dena Bank has raised the interest rates on the FCNR deposits in dollars for a period of one-year to less than two years to 5.29 per cent (5.15 per cent); on deposits of two to less than three years to 5.29 per cent (5.13 per cent), on deposits of three years to less than four years to 5.27 per cent (5.11 per cent) and on deposits of five years to 5.31 per cent (5.11 per cent).

Union Bank

Union Bank of India has increased the interest rate on deposits of one to less than two years to 5.29 per cent (5.13 per cent); on deposits of two to less than three years to 5.29 per cent (5.13 per cent); on deposits of three years and above to 5.27 per cent (5.11 per cent); on deposits of four to less than five years 5.3 per cent (5.11 per cent) and on deposits of up to five years to 5.31 per cent (5.11 per cent).

Bank of India

Bank of India has increased the interest on deposits of one to less than two years to 5.29 per cent (4.9 per cent), on deposits of two to less than three years to 5.29 per cent (4.88 per cent), on deposits of four to less than five years to 5.3 per cent (4.86 per cent) and on deposits of five years to 5.31 per cent (4.86 per cent).

Central Bank of India has increased the interest rate on deposits of one year to 5.29 per cent (5.15 per cent).

More Stories on : Fixed Deposits | NRIs | Public Sector Banks

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