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