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Our Bureau

Coimbatore , Dec. 1

Lakshmi Vilas Bank has effected a downward revision of interest rates on deposits held under FCNR, NRE and RFC schemes from December 1.

The interest rates on deposits accepted under FCNR (B) dollar deposit has been lowered to 5.24 per cent (5.34) for maturity period of 1-2 years, 5 per cent (5.17) for 2-3 years, 4.91 per cent and 4.89 per cent (5.11) for 3-4 years and 4-5 years, respectively and to 4.9 per cent (5.12) for 5 years.

On NRE deposit with a maturity slab of one and below 2 years, the interest rate has fallen to 6.24 per cent (6.34), while for 2-3 years and those maturing above 3 years, the rates have slipped to 6 per cent (6.17) and 5.91 (6.11) per cent, respectively.

The RFC deposit rate for 1-6months remains unchanged at 5.1 per cent, while it has been slashed to 5.1 per cent (5.2) and 5 per cent (5.1) for 6 months to less than 1 year and one-year deposit, respectively.

More Stories on : Fixed Deposits | NRIs | Private Banks

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