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 Money & Banking - Interest Rates
States - Andhra Pradesh
Interest cut on NRE deposits

Hyderabad, Oct. 8

State Bank of Hyderabad (SBH) has reduced interest on Non-Resident External (NRE) term deposits. The interest rates on deposits for one year to less than two years was brought down to 4.9 per cent from 5.28 per cent, for two years to less than three years to 4.59 per cent (4.9) per cent. On deposits between three to five years the interest rate was fixed at 4.64 per cent (4.91) per cent. The revised rates were applicable with effect from October 1, 2008, according to a release. - Our Bureau

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