Financial Daily from THE HINDU group of publications
Thursday, Dec 02, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 02, 2004 |
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Money & Banking
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Fixed Deposits SBT hikes NRE deposit, FCNR rates Our Bureau
Thiruvananthapuram , Dec. 1 STATE Bank of Travancore (SBT) has raised the interest rates for NRE term deposits as also FCNR deposits in dollars, pound sterling and euro for various periods with effect from December 1. The revised rate for NRE deposits of one year to less than two years is 3.50 per cent, for two years to less than three years 3.90 per cent and for three years and above up to five years is 4.20 per cent, according to a statement from the bank. The revised rate for US dollar FCNR deposits of one year to less than two years is 2.73 per cent, for two years to less than three years 3.12 per cent and for three years is 3.41 per cent. The rates for pound sterling deposits for similar periods are 4.65 per cent, 4.58 per cent and 4.60 per cent, respectively. The corresponding rates for deposits in euro are 2.05 per cent, 2.28 per cent and 2.52 per cent, respectively.
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