The Hindu Business Line : 5 banks hike NRE, FCNR deposit rates

State Bank of India, ICICI Bank, Dena Bank and Central Bank of India have increased interest rates on NRE and FCNR (B) deposits across all maturities with immediate effect.

ICICI Bank has revised interest rates on one-year NRE fixed deposits to 6.43 per cent (6.33 per cent) and on one-year FCNR deposits denominated in dollars to 5.43 per cent (5.33 per cent).

Central Bank of India has increased interest rates on NRE time deposits for one year to less than two years to 6.4 per cent (6.3 per cent) and on FCNR (B) deposits in dollars for the same period to 5.43 per cent (5.33 per cent).

SBI has also increased the interest rate on one-year NRE term deposits to 6.43 per cent (6.33 per cent) and on FCNR deposits in dollars to 5.43 per cent (5.33 per cent).

Dena Bank has also increased the interest rate on one-year NRE term deposits to 6.43 per cent (6.33 per cent) and on FCNR deposits in dollars to 5.43 per cent (5.33 per cent).

Our Chennai Bureau reports: Indian Overseas Bank has raised interest rates on NRE term deposits with effect from June 1. The revised rates are 6.40 per cent for deposits of terms between one year and three years, and 6.45 per cent for terms between 3 years and 5 years.

More Stories on : Interest Rates | NRIs | State Bank of India | ICICI Bank Ltd

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