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July 4

State Bank of Hyderabad (SBH) has announced an upward revision in interest rates on NRE, FCNR and RFC term deposits effective July 1.

In a press release here, the bank said the NRE term deposit rates for one to two years is increased to 6.7 per cent from 6.43 per cent, for two to three years 6.7 per cent (6.43 per cent) and for three to five years tenure 6.7 per cent (6.45 per cent).

The Thrissur-based Dhanalakshmi Bank has revised the interest rates on NRE and FCNR(B) deposits with effect from June 1. The new rate for NRE rupee deposits is 6.70 per cent for 12 months and above but below 36 months, and 6.70 per cent for 36 months and above and up to 120 months. The new rates are effective from July 1.

Karnataka Bank has raised interest rates on FCNR(B) deposits with effect from July 1.

A bank release said here on Tuesday that the increase was effected across all slabs and currencies. On FCNR dollar deposits of one year to less than three years, the rate has been increased to 5.69 per cent (5.43 per cent).

Punjab National Bank has raised the interest rates on foreign currency non-resident deposits scheme for dollar, pound, euro, Australian and Canadian dollar deposits, with effect from July 1.

More Stories on : Fixed Deposits | NRIs | Private Banks

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