The Hindu Business Line : More banks hike FCNR, NRE deposit rates

Punjab and Sind Bank (P&SB) has hiked the interest rates on foreign currency non-resident bank deposits and NRE term deposits with effect from April 1, 2006.

Interest rate on US dollar deposit have been hiked from 4.9 per cent per annum to 5.29 per cent for deposits of one year up to less than 2 years while interest on deposits from two years to less than three years would be 5.29 per cent against 4.88 per cent earlier.

Canara Bank

Thiruvananthapuram: Canara Bank has revised upward interest rates applicable for FCNR (B) and RFC deposits in various currencies with effect from April 1, 2006. Deposits of 1 year and above but less than 2 years in dollars will attract

5.29 per cent(4.90); in pound sterling 4.78 per cent (4.42) and euro 3.23 per cent (2.73).

Lakshmi Vilas Bank

The NRE term deposit rate has been revised to 6 per cent from 5.90 per cent across all slabs.

The FCNR dollar deposit rate for tenure between 1 and 2 years and 2 - 3 years has moved up to 5.29 per cent from the earlier level of 5.15 and 5.13 per cent respectively.

Karur Vysya Bank

On FCNR dollar deposits, the bank has announced a rise of 20 basis points to 5.31 per cent (5.11) for deposits with maturity period of 5 years.

For the 3 to 4 years and 2 - 3 year period, the rates have gone up by 16 basis points to 5.27 per cent (5.11) and 5.29 per cent (5.13) respectively.

More Stories on : Fixed Deposits | NRIs | Interest Rates

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