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Our Bureau

Mangalore April 26 Karnataka Bank Ltd has reduced interest rates on its NRE and FCNR (B) deposit schemes with effect from April 25.

A bank release said here the interest rate on NRE deposits has been reduced to 5.22 per cent (5.72 per cent) for a tenure of one year to less than two years, 5.02 per cent (5.52 per cent) for two to less than three years, and 4.96 per cent (5.46 per cent) for three to five years.

In the case of FCNR (B) deposits, the interest rate on dollar deposits for a tenure of one year to less than two years is 4.47 per cent (4.97 per cent), for two to less than three years is 4.27 per cent (4.77 per cent), three to less than four years is 4.21 per cent (4.71 per cent), four to less than five years is 4.22 per cent (4.72 per cent), and for five years only it is 4.26 per cent (4.76 per cent).

Interest rate on Great Britain Pound deposits for a tenure of one year to less than two years is 5.11 per cent (5.61 per cent), two to less than three years is 5.01 per cent (5.51 per cent), three to less than four years is 4.96 per cent (5.46 per cent), four to less than five years is 4.92 per cent (5.42 per cent), and for five years only it is 4.87 per cent (5.37 per cent).

More Stories on : Fixed Deposits | NRIs | Private Banks | Karnataka

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