The Hindu Business Line : NRE deposit rates hiked

The rates were increased for various periods from one year to three years and above to 6.3 per cent from the existing rate of 6 per cent. The new rates would be applicable to all fresh deposits and also renewals of existing deposits, the bank said in a press release.

State Bank of Hyderabad (SBH) has revised the interest rates on NRE rupee deposits with effect from April 19. In a press release here, the bank said the rates were increased to 6.30 per cent from the existing level of six per cent for three tenures - one year to less than two years, two years to less that three years, and three years to five years.

The Karur-based banks - Karur Vysya Bank and Lakshmi Vilas Bank - have made an upward revision of the NRE term deposit rate by 30 basis points to 6.30 per cent across all slabs. The revised rate has been effected from April 19. A release from KVB, however, notes that this revised rate would be applicable from April 19 to April 30.

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