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The interest rate on one-year NRE FD has been increased by 0.28 per cent to 5.23 per cent from 4.95 per cent and that on three-year NRE FD has been hiked by 0.30 per cent to 5.40 per cent from 5.10 per cent, the bank said in a statement.
On FCNR front, interest rate on one-year FD in USD has been increased by 0.26 per cent to 4.47 per cent from 4.21 per cent and that on five-year deposit has been raised by 0.30 per cent to 4.70 points from 4.40 per cent.
The interest rate on NRE savings account has been increased by 0.52 per cent to 4.23 per cent from 3.71 per cent, it added.
Dena Bank hikes NRE deposit rates
State-owned Dena Bank has hiked interest rates for non-resident external savings and foreign currency non-resident and resident foreign currency deposits.
Interest rates for NRE term US dollar deposits for 1-2 years have been hiked to 5.25 per cent from 4.95 per cent, for 2-3 to 5.35 per cent (5.10 per cent) and for three years to 5.40 per cent (5.10 per cent), the bank said.
Interest rates on FCNR/RFC for USD deposits for 1-2 year has been increased to 4.47 per cent from 4.19 per cent, for 2-3 years to 4.56 per cent (4.33 per cent), for 4-5 years to 4.65 per cent (4.38 per cent) and for five years to 4.69 per cent (4.41 per cent), it said.
The interest rates of Great Britain Pound and Euro deposits have also hiked, it added.