Public Sector undertaking Central Bank of India has revised interest rates on Foreign Currency Non Residential (FCNR)– B deposits. The bank now offers interest of 3.07% on US $ deposits of 1 year to less than 2 years and 3.97% for US $ deposits of 5 years. The interest on Pound Sterling deposits is 4.28% for 5 years and for Euro deposits it is 4.34 %. The Australian dollar deposits earn an interest of 6.62% for 5 years.

On Non-Resident (External) NRE deposits, the bank offers 9% tax free interest for a single deposit of Rs One crore to 10 crores for a period of less than 5 years.

The new rates have come into force w.e.f July 1, 2012