Mumbai, September 01: Public-sector lender, Union Bank of India (UBI) today cut interest rates on foregin currency non-resident (bank) account deposits and non resident external rupee term deposits with immediate effect.
With this, US Dollar deposits having a maturity of 1-2 years will now attract an interest rate of 2.33 per cent (2.50 per cent), a press release said.
Deposits in 2-3 years and 3-4 years maturity bucket will now attract 2.35 per cent (2.56 per cent) and 2.99 per cent (3.17 per cent) respectively, the release said.
Deposits in Pound and Euro, in 1-2 years maturity, will now attract rates of 2.23 per cent (2.42) and 2.30 per cent (2.35 per cent) respectively.
NRE Deposits, having 1-2 years and 2-3 years maturities will now carry rates 3.08 per cent (3.25) and 3.10 per cent (3.31) respectively, the release said.
—Agencies