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UBI revises Re, foreign currency deposit rates for NRIs
Thursday, 02 June 2011, 04:12 Hrs
Mumbai: Public sector Union Bank of India (UBI) today announced a revision of rates in both foreign currency and rupee term deposits by the non-resident Indians (NRIs).
The interest rate on a majority of the deposits has been cut as part of the revision.
Under the new rate structure effective from today, a five-year dollar deposit will earn an NRI 1.71 percent interest as against the previous 1.77, while the same for the British pound sterling will be 2.56 percent versus 2.65 percent earlier, a bank release said.
An Euro deposit between one and two years will now earn 1.91 percent as against the earlier 2.43 percent. In some baskets like an Australian dollar, deposit between three and four years will now earn an interest of 2.67 percent per annum versus the earlier 2.64 percent, it said.
The rates for rupee term deposit by NRIs have also been revised downwards, the release said.
Source: PTI
The interest rate on a majority of the deposits has been cut as part of the revision.
Under the new rate structure effective from today, a five-year dollar deposit will earn an NRI 1.71 percent interest as against the previous 1.77, while the same for the British pound sterling will be 2.56 percent versus 2.65 percent earlier, a bank release said.
An Euro deposit between one and two years will now earn 1.91 percent as against the earlier 2.43 percent. In some baskets like an Australian dollar, deposit between three and four years will now earn an interest of 2.67 percent per annum versus the earlier 2.64 percent, it said.
The rates for rupee term deposit by NRIs have also been revised downwards, the release said.
Source: PTI
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