Financial Daily from THE HINDU group of publications
Tuesday, Sep 09, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 09, 2003 |
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Money & Banking
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Interest Rates Andhra Bank hikes NRE deposit rates Our Bureau
Hyderabad , Sept. 8 ANDHRA Bank has announced an upward revision in interest rates offered for the term deposits under the Non-Resident (External) (NRE) rupee accounts. In a press release here on Monday, the Andhra Bank General Manager, Mr A.L. Nageswara Rao, said the revised interest rates would come into effect from September 8. The new rates were applicable to all the fresh deposits and renewals of the existing deposits from September 8, he said. The interest rates for the tenure of one year to less than two years has been increased to 3.9 per cent from the existing 3.8 per cent, for two years to less than three years at 4.7 per cent (4.3 per cent) and for deposits of three years, the rate has been raised to 5.4 per cent (5 per cent).
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