BANKING/FINANCE

Union Bank of India changes interest rates on FCNR (B) Term Deposits

by Suman Gupta

Mumbai-July,2019: Union Bank of India has revised the interest rates applicable to FCNR (B) Deposits w.e.f. 1st July, 2019.

The revised rates w.e.f. 1st July 2019 for various periods of maturity are as under:

FCNR (B) Deposits:

PERIOD USD < 300,000 USD >= 300,000 GBP EUR
  Existing Revised Existing Revised Existing Revised Existing Revised
1 YR<2YRS 3.28 2.99 3.28 2.99 1.82 1.80 0.74 0.65
2YRS<3YRS 2.88 2.63 2.98 2.73 1.63 1.59 0.48 0.38
3YRS<4YRS 2.91 2.67 3.01 2.77 1.65 1.60 0.54 0.41
4YRS<5YRS 2.91 2.67 3.01 2.77 1.67 1.62 0.58 0.46
5YRS  ONLY 2.84 2.66 2.94 2.76 1.60 1.55 0.56 0.43

FCNR (B) Deposits:

PERIOD JPY CAD AUD
  Existing Revised Existing Revised Existing Revised
1 YR<2YRS 1.00 0.95 3.20 3.10 2.27 2.08
2YRS<3YRS 0.72 0.66 2.58 2.54 1.97 1.79
3YRS<4YRS 0.71 0.64 2.55 2.49 1.98 1.80
4YRS<5YRS 0.71 0.63 2.54 2.47 2.12 1.91
5YRS  ONLY 0.62 0.54 2.45 2.38 2.08 1.87

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