State Bank of Travancore revises FCNR, RFC deposit rates

State Bank of Travancore (SBT) revises FCNR, RFC deposit rates from March 2, 2013.

State Bank of Travancore (SBT), an associate bank of State Bank of India, has announced a reduction in interest rates for FCNR deposits with effect from two days ago.

SBI-LogoAccording to the revision, interest rate (in percentage figures) for FCNR deposits in US dollars will be 2.75 for a period of one year to less than two years; 2.40 for two years to less than three years; 3.51 for three years to less than four years; 3.69 for four years to less than five years and 3.92 per cent for five years.

For deposits in pound sterling, the corresponding rates will be 2.93; 2.63; 3.72; 3.88; and 4.08.

The corresponding rates for deposits in euro will be 2.45; 2.48; 3.62; 3.78; and 3.96.

Interest rate for RFC term deposits for six months to less than one year will be 1.00 per cent (no change); one year to less than two years 2.75 per cent (2.78 per cent); two years to less than three years 2.40 per cent (2.43 per cent); and for three years, 3.51 per cent. (3.56 per cent).

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