Syndicate Bank raises FCNR (B) deposit rates by 1%

State-owned Syndicate Bank today said it has made upward revision of the rate of interest on Foreign Currency and Non Resident (Banks) FCNR (B) for US Dollar deposits of 3 to 5 years by 1%, effective from August 22.

The rate of interest on FCNR (B) deposits in US Dollar of three years to five years has been increased by 1%, the bank in a statement said.

The revised interest for three years is 4.78%, four years is 5.17% and five years is 5.56%, it added.