Central Bank raises NRE deposit rates
Mar 01 2013 , Mumbai
The bank now offers interest of 9 per cent for deposits of One year and less than two years and 9.25 per cent for deposits of 555 days, the bank said in a note, without offering the existing rates.
The bank also revised interest rates on FCNR-B deposits in many brackets.
While bank will offer interest 3.69 per cent for USD deposits of four years to less than five years, 3.92 per cent for USD deposits of five years, 4.08 per cent for GBP deposits of five years, 3.96 per cent for euro deposits of five years, 4.68 per cent for Canadian dollar deposits of five years and 6.41 per cent for Australian dollar deposits of five years.
The bank said the new rates will be valid till March-end.
Meanwhile, leading NBFC, L&T Infra, a fully-owned subsidiary of L&T Finance, today slashed its prime lending rate by 0.25 per cent to 15.50 per cent.