CENTRAL BANK OF INDIA REVISES INTEREST RATES ON NRE/FCNR-B/RFC DEPOSITS

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. 01.11.2011. Revised interest rates, applicable to fresh deposits accepted / renewals made on or after NOVEMBER 01, 2011 will be as under:

PARTICULARS	PARTICULARS
NRE DEPOSIT INTEREST RATES
PERIOD OF NRE DEPOSIT	INTEREST RATE % P.A.
1 Year to less than 2 years	2.68
2 Years to less than 3 years	2.36
3 years only	2.51
NRE Savings Bank	Remains unchanged at 4.00 %
FCNR(B) Deposit Interest Rates % p.a.
Period of deposit	USD	GBP	EUR	CAD	AUD
1 year to less than 2 years	1.94	2.76	3.08	2.70	6.02
2 years to less than 3 years	1.61	2.37	2.55	2.18	5.28
3 years to less than 4 years	1.77	2.50	2.68	2.35	5.37
4 years to less than 5 years	2.05	2.69	2.84	2.53	5.62
5 years only	2.37	2.88	3.04	2.72	5.75
Overdue Deposit	0.94	1.76	2.08	1.70	5.02
RFC (USD) DEPOSIT Interest Rates
Period of USD deposit	% p.a.
6 months to less than 12 months & Savings A/c.	0.94

SOURCE: https://www.centralbankofindia.co.in/upload/news/Press_Editors_Press_Release_RATES.pdf