Public sector State Bank of India has hiked its interest rates on FCNR (B) deposits in GBP (Pound Sterling) up to five years as also on Euro deposits of up to two years maturity.
The revised interest rates come into effect from Friday, a bank release issued in Mumbai, said.
The interest rates in GBP for maturities of one year and above but less than two years is 5.24 per cent, while for two years but less than three years, it stands at 5.20 per cent.
For maturities of three years and above, but less than four years, the rate is 5.18 per cent, while for four years and above, but less than five years, it stands at 5.14 per cent.
For maturity period of five years, the rate is 5.11 per cent. For Euro deposits, the rate for maturities of one year and above but less than two years is 3.63 per cent, while for two years and above but less than three years, the rate is 3.75 per cent.
For three years and above, but less than four years, the rate is 3.78 per cent, while for four years and above but less than five years, the rate is 3.81 per cent. For a maturity period of five years, the rate is 3.85 per cent.
The rates for dollar-denominated deposits stand at 5.41 per cent and 5.24 per cent for maturities of one year and above but less than two years and two years and above but less than three years, respectively.
For maturities of three years and above but less than four years, four years and above but less than five years, the rate stands at 5.18 per cent and 5.20 per cent, respectively, while for maturity of five years, the rate is 5.22 per cent.
The bank has also revised rates for its NRE term deposits. Accordingly they stand at 6.41 per cent, 6.24 per cent and 6.18 per cent for maturities of one year to less than two years, two years to less than three years and three years to five years, respectively.
