After HDFC bank set up a two day window for non-resident external rupee (NRE) deposits offering significantly higher interest rates than those cutrently available , more banks are likely to come up with similar offers.
The offer by HDFC bank offers an annual interest rate of 6.8 percent on NRE deposits worth ₹2 crore to less than ₹ 150 crore for tenures ranging from 12 to 15 months and for domestic deposits worth ₹2 crore to ₹5 crore with a tenure of 12 to 15 months it offers 6.25 percent.
Axis bank has offered interest rates in the range of 6.30 percent to 6.65 percent for such deposits worth ₹5 crore to ₹100 crore for tenure of 12 to 15 months.
The offers on come NRE deposits came after RBI temporarily exempted banks from adhering to a regulation that prevented interest rates on NRE deposits. The central bank aim at attracting more foreign inflows into India at atime when rupee has been marking low against US dollar.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.