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Bank of Rajasthan hikes NRE and FCNR deposits rates

Bank of Rajasthan hikes NRE and FCNR deposits rates
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First Published: Fri, Oct 17 2008. 05 51 PM IST
Updated: Fri, Oct 17 2008. 05 51 PM IST
New Delhi: Bank of Rajasthan, one of the fastest growing, technology driven and customer friendly private sector bank, has announced increase in Non-Resident (External) Rupee Deposits (NRE) and Foreign Currency Non-Resident Deposits (Banks) interest rates FCNR (B) with effect from 16 October.
The interest rates on Non-Resident (External) Rupee deposits have been increased to 4.96% per annum for 1 year to less than 2 years, 4.26% per annum for 2 years to less than 3 years and 4.56% per annum for 3 years and above.
The interest rates on FCNR (B) deposits in dollar terms have been increased to 4.21% per annum for maturity of 1 year to less than 2 years, 3.52% per annum for 2 years to less than 3 years, 3.81% per annum for 3 years and above but less than 4 years, 3.95 % per annum for 4 years and above but less than 5 years and 4.14% per annum for 5 years.
The interest rates on FCNR (B) deposits in pounds have been increased to 6.77% per annum for 1 year to less than 2 years, 5.57% per annum for 2 years and above to less than 3 years and 5.50% per annum for three years.
The interest rates on FCNR(B) deposits in Euro have also been increased to 5.74% per annum for 1 year to less than 2 years, 4.87% per annum for 2 years and above but less than 3 years, 4.84% per annum for 3 years.
The net profit of the bank increased to Rs115.20 crore for the year ended 31 March against Rs110.57 crore for the previous. Besides, the bank has given 1:5 bonus shares and also gave bonus shares in the ratio of 1:4.
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First Published: Fri, Oct 17 2008. 05 51 PM IST
More Topics: Bank of Rajasthan | Rates | NRE | FCNR | Money Matters |