Thiruvananthapuram: State Bank of Travancore has revised interest rates on FCNR term deposits with effect from June 1.
The interest rate for FCNR (Foreign Currency Non-Resident) deposit in US dollars will be 1.53 percent for one year to less than two years, 1.52 percent for two years to less than three years, a bank release said here today.
It would be 3.91 percent for three years to less than four years, 4.29 percent for four years to less than five years and 4.62 percent for five years.
For deposits in Pound Sterling, the corresponding rates will be 1.94 percent, 2.13 percent, 4.48 percent, 4.76 percent and 4.99 percent, respectively.
The corresponding rates for deposits in Euro will be 1.52 percent, 1.38 percent, 3.48 percent, 3.61 percent and 3.77 percent, respectively.
Interest rates for RFC (Resident Foreign Currency) term deposits will be one percent for six months to less than one year, 1.53 percent for one year to less than two years, 1.52 percent for two years to less than three years and 3.91 percent for three years.
