Syndicate Bank increases FCNR(B) / NRE Rupee Term Deposits Interest Rates

Syndicate Bank has announced that the Bank has revised upward the interest rates offered on FCNR(B) Deposits for USD GBP, EUR, CAD and AUD w.e.f. January 01, 2007. The rates on US Dollar deposits have been revised to 5.33% p.a. for maturity of one year and above but less than two years; 5.16% p.a. for maturity of two years and above but less than three years and 5.08% p.a. for maturity of three years and above but less than four years and 5.07% for maturity at four years and above but less than five years and 5.09% for the maturity of five years only. The interest rates for GBP, EUR, CAD& AUD for one year one day have been revised to 5.58% p.a., 4.02% p.a., 4.24% p.a. and 6.62% pa. respectively.

The Bank has revised upward the interest rates offered on NRE Rupee Term Deposits w.e.f. November 01, 2006. The rates have been revised to 6.33% p.a. for maturity of one year to less than two years; 6.16% p.a. for maturity of two years to less than three years and 6.08% p.a. for maturity of three years and above upto five years.

Source : Equity Bulls

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