SBI FCNR deposits now fetch more interest
February 1, 2011‐ Mumbai, Maharashtra, India
Effective today, State Bank of India (SBI), has made an upward revision in Foreign Currency Non Residential (FCNR) deposits held in Sterling Pound, Canadian Dollar, Euro and Yen by up to 46 basis points. However, there is no revision in the deposits held in US Dollar.
All categories of deposits in Sterling Pound denomination are hiked by 28 basis points while selective hike in interest rate is provided in deposits held in other denominations.
Bank has also announced increase in interest rates by Non-Resident Indian held in Rupee denomination too.
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