The Hindu Business Line : Karnataka Bank revises NRE deposit interest rates

MANGALORE: Mangalore-based Karnataka Bank Limited has effected an upward revision of interest rates on its non-resident, external, (NRE) rupee deposit scheme with effect from October 1.

The revised rates for a period of one year to less than two years is 5 per cent per annum from 4.80 per cent PA, for a period of two years to less than three years 5.10 per cent PA from 4.90 per cent PA and for three years and up to five years 5.20 per c ent PA from 4.90 per cent PA, a bank statement said here on Saturday.

The changes in the interest rates will also apply to repatriatable NRE deposits renewed after their present maturity period, the release said.

Further, the interest rate on NRE savings has also been revised from 3.70 per cent per annum to 4.20 per cent per annum, the statement added.

The country's premier private sector bank has 386 branches in 18 states and two union territories with over 285 branches run on core banking solution (CBS). The bank is eyeing a business turnover of Rs 20,000 crore for the year 2005-06, the statement sai d. - PTI

Prev: UBI ties up with ICRA for credit risk rating
Next: WB to provide Rs 1,000 cr to Orissa for road development

Business Line | NUS Index |

In Focus

Indian Aviation: Sky is the limit

Stock splits

India Inc's bonus bonanza

Dabhol power regenerated

Sethusamudram Canal Project

India Inc's overseas acquisition

In Depth

Gender Justice

Simple Economics

Tax Talk