The Hindu Business Line : SBT hikes NRE, FCNR rates

State Bank of Travancore (SBT) has hiked the interest rates for NRE and FCNR term deposits with effect from July 1. As per the revision, the interest rate for NRE deposits for a period of one year to less than years is 3.31 per cent (previous rate 3.16 per cent); for two years to less than three years 3.60 per cent (3.46 per cent); and for three years to five years 3.95 per cent (3.81 per cent), according to a release from the bank. The interest rate for FCNR deposits in U S dollars for a period of one year to less than two years is 2.56 per cent (previous rate 2.41 per cent); for two years to less than three years 2.85 per cent (2.71 per cent); for three years to less than four years 3.20 per cent (3.06 per cent); for four years to less than five years 3.42 per cent (3.30 per cent); and for five years 3.56 per cent (3.47 per cent).

— Our Bureau

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