SBI revises int rates for NRI deposits in Pound Sterling, Euro

MUMBAI: Public sector lender, State Bank of India, today announced an increase in interest rates for non- residents' deposits made in Pound Sterling and Euro currencies.

NRIs can earn interest at 2.51 per cent to 3.20 per cent on Euro currency whereas interest on Pound Sterling deposits will be from 2.48 per cent to 3.16 per cent depending on maturities, an official release from the bank issued here said.

The revised First Consumers National Bank (FCNB) rates come into effect from November 1 and the rate hike on GBP and Euro deposits are between 0.01 per cent to 0.24 per cent across maturities.

Interest rates on deposits made in US Dollar currency have been revised downward and under the new rates, USD deposits will fetch interest ranging from 1.76 per cent to 2.47 per cent.

SBI has also decreased rates on NRE deposits depending on maturities, the release addded.