Financial Daily from THE HINDU group of publications
Wednesday, Oct 06, 2004
Financial Daily from THE HINDU group of publications Wednesday, Oct 06, 2004 |
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Money & Banking
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Fixed Deposits SBT hikes FCNR, RFC deposit rates Our Bureau
Thiruvananthapuram , Oct. 5 STATE Bank of Travancore (SBT) has raised the interest rates for FCNR term deposits in US dollars for various periods from one to three years with effect from October 4. The revised rate for US dollar deposits for one year to less than two years is 2.24 per cent, two years to less than three years 2.72 per cent and for three years and above 3.08 per cent. The interest rates for RFC deposits have also been revised to 2.24 per cent, 2.72 per cent and 3.08 per cent, respectively, for the corresponding periods as in the case of FCNR deposits. The rate for a period of six months to less than one year remains at one per cent, according to a bank statement.
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