State Bank of India has hiked the interest rates offered on non-resident Indian deposits with effect from Friday.
The interest rate on foreign currency non resident accounts in dollars with maturity of one year to less than two years has been hiked to 4.64 per cent, two years to less than three years to 4.57 per cent, three years to less than four
years to 4.55 per cent, four years to less than five years to 4.55 p
er cent and for five years only to 4.57 per cent, a bank statement said.
Similar upward revisions have been made in accounts in denomination of euro, pound, Canadian dollars, Australian dollars and yen.
The interest rates on non resident external rupee term deposit, for one year to less than two years the rates have been revised to 5.39 per cent from 5.30 per cent, two years to less than three years to 5.32 per cent from 5.06 per cent and for three years to five years to 5.30 per cent from 5.01 per cent, the statement said.