SBT revises foreign currency rates

State Bank of Travancore (SBT) has revised interest rates for foreign currency deposits with effect from May 2. New rate for deposits in US dollars will be 2.55 per cent for a period of one year to less than two years; 2.56 per cent for two years to less than three years; 4.02 per cent for three years to less than four years; 4.45 per cent for four years to less than five years; and 4.81 per cent for five years. For deposits in pound sterling, the corresponding rates (in percentage figures) will be 2.93; 3.52; 4.84; 5.08; and 5.28. For deposits in Euros, the rates will be 2.57; 2.48; 3.61; 3.77; and 3.95. Interest rate for resident foreign currency deposits for six months to less than one year will be one per cent; for one year to less than two years 2.55 per cent; for two years to less than three years 2.56 per cent; and for three years, 4.02 per cent.