India’s largest lender the State Bank of India (SBI) on Monday revised its interest rates on FCNR(B) (Foreign Currency Non-resident – Bank Account) deposits available in different foreign currencies. While the lender mostly hiked rates in US dollar schemes, it slashed the same with Euro deposits. The new rates are effective from September 01, 2012.
At the same time, SBI introduced four new currencies including Swiss Franc (CHF), New Zealand Dollar (NZD), Swedish Krona (SEK) and Danish Krone (DKK).
Maturities | 1 yr and above but less than 2 yrs. | 2 yrs and above but less than 3 yrs. | 3 yrs and above but less than 4 yrs. |
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