The Hindu Business Line : Karnataka Bank cuts NRE rates

Karnataka Bank has revised interest rates on its NRE and FCNR(B) deposit schemes with effect from April 3. A bank release said on Tuesday that the rate on NRE deposits has been reduced to 5.72 per cent (5.74 per cent) for tenure of one year to less than two years, 5.52 per cent (5.55 per cent) for two to less than three years and 5.46 per cent (5.48 per cent) for three to five years.In the case of FCNR(B) deposits, the interest rate on dollar deposits is 4.97 per cent (4.99 per cent) for tenure of one year to less than two years, 4.77 per cent (4.80 per cent) for two to less than three years, 4.71 per cent (4.73 per cent) for three to less than four years, 4.72 per cent (4.72 per cent) for four to less than five years and 4.76 per cent (4.74 per cent) for five years.

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