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State Bank of Patiala hikes interest rates for NRE-Term Deposits |
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GAGANDEEP AHUJA
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Tuesday, 01 July 2008 |
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PATIALA : State Bank of Patiala on Tuesday increased interest rates on NRE term deposits w.e.f. Ist July, 2008 to 3.31 % per annum for one year up to and less than 2 years, 3.60 % for two years but less than three year, and 3.95 % for a maturity period of 3 years up to 5 years.
SBoP press release said that interest rates on FCNR (B) deposits in USD have been increased from 2.41 % p.a to 2.56 % p.a for one year but less than two years, from 2.71 % p.a to 2.85 % p.a. for two years & above but less than three years, from 3.06 % to 3.20 % for three years and above but less than four years and from 3.30 to 3.42 % p.a for 4 years but less than 5 years and from 3.47 % to 3.56 % for a period of five years.
Similarly, interest rates on FCNR (B) deposits in Austrian dollars have been increased to 7.77 % for one year but less than two years, to 7.21 % p.a. for two years & above but less than three years, to 7.12 % for three years and above but less than four years and to 7.13 % p.a.for 4 years but less than 5 years and to 7.02 % for a period of five years, the press release said.
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