IDBI revises non-resident deposit rates

IDBI Bank on Wednesday revised up the interest rates on Non Resident deposits, both in Indian rupees and in foreign currency.

IDBI Bank on Wednesday revised up the interest rates on Non Resident deposits, both in Indian rupees and in foreign currency, with effect from May 1.

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The Non Resident External (NRE) rupee deposit rate for one year to less than two years has been increased from the existing level of 6.3 per cent to 6.33 per cent while the corresponding deposit rates in three year category has been increased to 6.35 per cent.

The bank has also increased the interest rates on USD Foreign Currency Non Resident (FCNR) deposits for one year to less than two years to 5.33 per cent from the existing level of 5.29 per cent per annum.

The bank offers FCNR deposits in foreign currencies USD, Sterling Pound, Euro, Australian Dollar and Canadian Dollar.