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Central Bank of India revises interest rates on FCNR-B deposits

04 Jan 2016 Evaluate

Public-sector bank, Central Bank of India has revised its deposit rates payable on foreign currency non-resident (FCNR)-B deposits with effect from January 01, 2016. These rates are revised based on the rates announced by Foreign Exchange Dealers’ Association of India (FEDAI) on December 31, 2015 and are valid till January 31, 2015.

The Bank now offers interest of 2.80% for USD Deposit of 5 Years, 2.64% for GBP Deposit of 5 Years, 1.38% for Euro Deposit of 5 Years, 2.25% for Canadian Dollar Deposit of 5 Years & 3.67% for Australian Dollar Deposit of 5 Years.

Central Bank of India holds a very prominent place among the Public Sector Banks on account of its network of 4,336 Branches, Asset Recovery Branches (ARB) 9, Retail Asset Branches (RAB) 15 and 26 extension counters along with satellite branches at various centres throughout the length and breadth of the country.

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