Public-sector lender Bank of Baroda has revised interest rates its term deposits in foreign currency by Non Resident Indians (NRIs) segment. The deposits having different maturity period carry different interest rates.
A press release of the bank stated for the revised rate for Foreign Currency Non-Resident (Banks) deposits (FCNR (B)) and Non Resident External (NRE) term deposits in dollar, having a maturity period of 1-2 years, has been fixed at 1.74 per cent (1.96).
The bank said, while the deposits in Pound, Euro and Yen having the same maturity, the revised rates will be 5.09 per cent (4.81), 3.98 per cent (3.64) and 0.35 per cent (0.35), respectively.
The revised rates for the deposits having tenure of 2-3 years, 3-4 years, 4-5 years and five years in US dollar, are 1.75 per cent (1.87), 2.06 per cent (2.19), 2.36 per cent (2.48) and 2.65 per cent (2.74), the bank said.
Similarly, NRE deposits having a maturity period of 1-2 years, the rate has been revised to 2.49 per cent (2.71) while for 2-3 years and 3-4 years, the new rates are 2.50 per cent (2.62), 2.81 per cent (2.94) respectively.
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