• THESE RATES WILL BE APPLICABLE FOR ALL DEPOSITS ACCEPTED AT UAE FOR VALUE DATES February 01, 2010 ONWARDS.

    • CHANGE IN INTEREST RATES – LOCAL/NRO DEPOSITS

  • With effect from June 01, 2009, the interest rates on Local and Non-Resident Ordinary (NRO) Rupee Deposits have been revised as per details below:

    • Period
    Less than
    Rs.5 mio.
    Above
    Rs.5 mio.
    7 DAYS TO 14 DAYS
    2.75
    2.75
    15 DAYS TO 45 DAYS
    3.00
    3.00
    46 DAYS TO 90 DAYS
    4.00
    4.00
    91 DAYS TO 179 DAYS
    5.00
    5.00
    180 DAYS TO LESS THAN 1 YR
    6.25
    6.25
    1 YR & ABOVE TO LESS THAN 2 YRS
    7.25
    7.00
    500 Days
    7.50
    7.50
    2 YRS AND ABOVE LESS THAN 3 YRS
    7.25
    7.25
    3 YRS to 5 YRS
    7.50
    7.50
  • (Rates are expressed in % p.a.)

    • CHANGE IN INTEREST RATES – NRE DEPOSITS

  • With effect from February 01, 2010, the interest rates on Non-Resident External (NRE) Rupee Deposits have been revised as per details below:

    • NRE
    (PERIOD W.E.F. 01.02.2010)
    Rate %
    1 YR & ABOVE TO < 2 YRS
    2.60
    2 YRS & ABOVE TO < 3 YRS
    2.91
    3 YEARS

    3.53
  • NRE Saving Deposit Rate : 3.50 %

  • (Rates are expressed in % p.a.) These rates are also applicable for renewals of NRE deposits.
    •

    CHANGES IN INTEREST RATES – RFC/CONSULATE ACCOUNTS IN FOREIGN CURRENCY

  • With effect from February 01, 2010 the following rates of interest will be applicable.

    • RFC/CONSULATE
    USD
    GBP
    EURO
    1 MONTH & ABOVE BUT LESS THAN 6 MONTHS

    0.75
    0.62
    0.61
    6 MONTHS & ABOVE BUT LESS THAN 1 YEAR

    0.88
    0.84
    0.93
    1 YEAR & ABOVE BUT LESS THAN 2 YEARS
    1.85
    2.26
    2.20
    2 YEARS & ABOVE BUT LESS THAN 3 YEARS
    2.16
    ---
    ---
    3 YEARS
    2.78
    ---
    ---
    SB Account
    0.25
    0.62
    0.61

  • *(Rates are expressed in percentage per amount)

    • CHANGE IN INTEREST RATES – FCNR DEPOSITS

  • With effect from February 01, 2010 the following rates of interest will be applicable for FCNR deposits.

    • FCNR**
    PERIOD - W.E.F. 01.02.2010
    USD
    GBP*
    EURO*
    1 YR & ABOVE TO < 2 YRS
    1.85
    2.26
    2.20
    2 YRS & ABOVE TO < 3 YRS

    2.16
    NA
    NA
    3 YEARS
    2.78
    NA
    NA

  • *DEPOSITS IN GBP AND EURO WILL BE ACCEPTED FOR ONE YEAR ONLY.
  • Please arrange to advise our branches in UAE accordingly.
  • (Rates of Interest are given as % p.a).
    •

    YIELD for NRE deposits
    w.e.f 01.02.2010
    Yield
    1 YEAR & ABOVE LESS THAN 2 YEARS
    2.63
    2 YEARS ABOVE LESS THAN 3 YEARS
    2.99
    3 YEARS

    3.70

  • NRE Saving Deposit Rate : 3.50 %
  • (Rates are expressed in % p.a.) These rates are also applicable for renewals of NRE deposits.
    •

    YIELD for FCNR deposits w.e.f 01.02.2010
    for US$ deposits
    1 yr to 2 yrs
    1.88
    2 YRS TO 3 YRS
    2.23
    3 YEARS

    2.92

      Savings NRE 3.5%, Savings NRO 3.5%

    • The interest rates for all schemes (including FCNR scheme) are fixed at bank's discretion. These rates are subject to change without any notice.

    • W.E.F. 01/11/99 FCNR deposits will be accepted for minimum period of 1 year period. Premature encashment of FCNR Deposits before 1 year will entail complete forfeiture of interest.

      Differential rate of interest

    • In terms of RBI directives, NRE deposits are accepted for a minimum maturity period of 1 year.

    • For deposits above Rs.5 crores, kindly contact the treasury.

    • Interest rates are applicable for fresh and renewed deposits.

    • The deposits placed by Senior Citizens will carry additional rate of 0.50%.

      Note:
      In case of Domestic/NRO deposits no interest will be payable if the deposit is withdrawn prematurely prior to 15 days. Similarly in case of NRE deposits no interest will be payable if the deposit is withdrawn prematurely prior to completion of one year. In all other cases 1% penalty as per the present rule will be levied.

      NRI ACCOUNTS

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