Bank of Baroda hikes NRE deposit rates

The rates for 1-2 years have been hiked to 4.40 per cent from the present four per cent while for 2-3 years, it has been hiked to 4.80 per cent from the 4.40 per cent, the bank said in a release in Mumbai.

The NRE term deposit rates for 3-5 years has gone up to five per cent from 4.60 per cent. Under the Foreign Currency Non-Residents (Banks), the rates for US dollar deposits have gone up to 3.60 per cent for 1-2 years, 4.04 per cent for 2-3 years and 4.25 per cent for three-year period.

The rates for GBP deposits have been reduced to 4.92 per cent for 1-2 years, 4.86 per cent for 2-3 years and 4.85 for three years.

For Euro deposits, the rates for 1-2 years have been hiked to 2.13 per cent, for 2-3 years it has been increased to 2.44 per cent while for three-year period, it has been reduced to 2.63 per cent from the present 2.65 per cent.