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State Bank of Travancore (SBT) has revised interest rates for FCNR (foreign currency non-resident) deposits with effect from Friday . New rates for deposits in US dollars will be 2.56 per cent for a period of one year to less than two years; 2.59 per cent for two years to less than three years; 4.05 per cent for three years to less than four years; 4.48 per cent for four years to less than five years; and 4.85 per cent for five years. Corresponding rates for deposits in euro will be 2.55; 2.49; 3.64; 3.82; and 4.01. Interest rates for RFC (resident foreign currency) term deposits for six months to less than one year will be 1 per cent; one year to less than two years will be 2.56 per cent; two years to less than three years will be 2.59 per cent, and 4.05 per cent for three years.
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