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State Bank of Travancore (SBT) has announced a revision in interest rates for FCNR deposits.
The revised interest rate for FCNR deposits in US dollars will be 2.97 per cent for a period of one year to less than two years; 2.38 per cent for two years to less than three years; 3.45 per cent for three years to less than four years; 3.59 per cent for four years to less than five years; and 3.75 per cent for five years.
For deposits in pound sterling, the corresponding rates will be 3.30 per cent; 2.76 per cent; 3.81 per cent; 3.90 per cent; and 4.03 per cent. The corresponding rates for deposits in euro will be 2.65 per cent; 2.46 per cent; 3.57 per cent; 3.74 per cent; and 3.95 per cent.
Interest rate for RFC term deposits for six months to less than one year will be one per cent; one year to less than two years, 2.97 per cent; two years to less than three years, 2.38 per cent; and for three years, 3.45 per cent.
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