| Bank of Rajasthan (BoR) has cut down its non-resident (external) rupee deposits (NRE) and foreign currency non-resident deposits (banks) or FCNR(B). The NRE deposits rates of the bank have been revised down for its various maturities. Interest rates for deposit with 1 to 2 years have come down to 4.17% from 4.96% while 2 to 3 years deposits rate have declined to 3.66% from 4.26%. The new interest rate for deposits with 3 years and above tenure stands at 4.14% against 4.56% earlier. The FCNR (B) deposits in US dollar, British Pound and Euro have also been revised downward by BoR. The revised FCNR (B ) rates stood as follows: | Tenure of the deposit | Interest rate Now | Interest rate Earlier | | USD | | | 1 to 2 years | 3.42% | 4.21% | | 2 to 3 years | 2.91% | 3.52% | | 3 to 4 years | 3.39% | 3.81% | | 4 to 5 years | 3.74% | 3.95% | | 5 years | 4.01% | 4.14% | | Pound | | | 1 to 2 years | 6.26% | 6.77% | | 2 to 3 years | 4.43% | 5.57% | | 3 years | 4.57% | 5.50% | | Euro | | | 1 to 2 years | 5.12% | 5.74% | | 2 to 3 years | 3.84% | 4.87% | | 3 years | 3.95% | 4.84% |
The rate cut by BoR is applicable from November 1st. |
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