[STC-Salt Lake] Changes in NRE, FCNR and RFC Deposits Rates wef May 5, 2004
- From: "Anup Sen, Salt Lake City, Kolkata" <anupsen@xxxxxxx>
- To: E-Group <stcsaltlake@xxxxxxxxxxxxx>
- Date: Wed, 05 May 2004 19:03:23 +0530
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|
Changes in NRE, FCNR and RFC Deposits
Rates wef May 5, 2004
|
|
FCNR ( Foreign Currency Non-Resident
Deposits)
|
(W.E.F 5th May 2004) % p.a
|
|
|
Maturity Period
|
US$
|
EURO
|
GBP
|
|
A
|
1 Yr & above but less than 2 yrs
|
1.58
|
1.99
|
4.64
|
|
B
|
For Deposits for 2 Yr & above but less than 3 yrs
|
2.44
|
2.43
|
4.81
|
|
C
|
For Deposits for 3 yrs only
|
3.04
|
2.80
|
4.94
|
The revised interest rates are applicable only
on fresh deposits and renewals of maturing deposits.
Reinvestment Plan wef 5th
May 2004
|
|
|
|
(Maturity
amount for Rs.100.00)
|
|
(Interest is
calculated on 360 days in a year basis)
|
|
|
PERIOD
|
US
$
|
YIELD
|
EURO
|
|
YIELD
|
|
GBP
|
YIELD
|
|
|
|
|
MAT.AMT.
|
|
MAT.AMT.
|
|
|
|
MAT.AMT.
|
|
|
|
|
12 ms
|
101.5800
|
1.5800
|
101.9900
|
|
1.9900
|
|
104.6400
|
4.6400
|
|
|
|
24 ms
|
104.9700
|
2.4850
|
104.9493
|
|
2.4746
|
|
109.9726
|
4.9863
|
|
|
|
36 ms
|
109.4737
|
3.1579
|
108.6995
|
|
2.8998
|
|
115.7658
|
5.2553
|
|
|
|
NRE Interest rate (Effective from 5th May 2004)
The revised interest rates payable on NRE
Rupee deposits would be as under:
|
Duration
|
Existing
Interest Rate (% p.a.)
w.e.f. 18th April 2004
|
Revised
Interest Rate (%p.a.)
w.e.f 5th May 2004
|
|
Up to 1 year
|
With drawn as per
RBI suggestion
|
With drawn as per
RBI suggestion
|
|
1 year to less than 2 years
|
1.60
|
1.80
|
|
2 years to less than 3 years
|
2.30
|
2.70
|
|
3
years to 5 years
|
3.00
|
3.30
|
The revised rates would be applicable irrespective of quantum
of deposits.
Reinvestment Plan Interest Rate (Effective from 5th May 2004)
|
Period Months
|
Maturity
amount for Rs.100.00
|
|
|
Mat. AMT
|
YIELD
|
|
6
|
NA
|
NA
|
|
9
|
NA
|
NA
|
|
12
|
101.8122
|
1.8122
|
|
24
|
105.5293
|
2.7647
|
|
36
|
110.3618
|
3.4539
|
|
48
|
114.0491
|
3.5123
|
|
60
|
117.8595
|
3.5719
|
|
|
|
|
|
RFC : Interest
Resident Foreign currency A/C (RFC) in US $ With
effect from 5th May 2004
|
Period (Months)
|
Rate (% p.a.)
|
Minimum Deposit in
US ($)
|
|
1 year and above but less than 2 years
|
1.35
|
1,000
|
|
2 years and above but less than 3 years
|
1.50
|
1,000
|
|
3 years only
|
1.60
|
1,000
|
|
NOTE: All these interest
rates are subject to change, without notice.
|
|
The revised interest rates are applicable
only on fresh deposits and renewal of maturing deposits.
|
|
|
|
SAVINGS BANK
NRE DEPOSIT RATES
APRIL - JUNE
QUARTER 2004 1.16% p.a
|
|
Other related posts:
- » [STC-Salt Lake] Changes in NRE, FCNR and RFC Deposits Rates wef May 5, 2004
