UBI changes int rates on FCNR (B), NRE (Rupee) Term Deposits

Union Bank of India has revised interest rates on both its FCNR (B) deposits as well as its NRE (Rupee) term deposits.

For NRE (Rupee) term deposits of one-year to less than two years, the new rate is 3.35 per cent as against the earlier 3.64 per cent, a press release issued here today stated.

For a period of two-years and less than three-years, it is 3.13 per cent as against 3.24 per cent while for three-years and above, the new rate is 3.74 per cent as against the earlier 3.64 per cent, the release said.

For its US dollar-denominated FCNR (B) deposits, the new rate is 2.60 per cent as against the earlier 2.89 per cent for a period of one-year to less than two-yers.

For two-years to less than three-years and three-years to less than four-years, the new rates are 2.38 per cent as against the earlier 2.49 per cent and 2.99 per cent as against 2.89 per cent, respectively, the release said.

For four-years to less than five-years, the revised rate stands at 3.52 per cent as against the earlier 3.23 per cent and for five years, the new rate is 3.92 per cent as against the earlier 3.49 per cent.

The new rates are with effect from June 1, the release said.