SBT hikes NRE term deposit rates

Thiruvananthapuram, Apr 1 (UNI) The State Bank of Travancore (SBT) today announced an increase in the interest rates for NRE Term Deposits.

As per the revision, the interest rate for NRE Term Deposits from One year upto five years would be 6 per cent, a bank release said here.

The interest rate for FCNR deposits in US Dollars would be 5.29 per cent for a period of One year to less than two years, 5.29 per cent for two years to less than three years, 5.27 per cent for three years to less than four years, 5.30 per cent for four years to less than five years and 5.31 per cent for five years, it said.

It said for deposits in Pound Sterling, the rates would be 4.78 per cent for a period of one year to less than two years, 4.83 per cent for two years to less than three years, 4.87 per cent for three years to less than four years, 4.86 per cent for four years to less than five years and 4.85 per cent for Five Years.

The corresponding rates for deposits in Euro would be 3.23, 3.52, 3.64, 3.71 and 3.77 per cent.

For RFC deposists in US Dollars, the interest rates had been increased to 5.29 per cent for a period of one year to less than two years, 5.29 per cent for two years to less than three years and 5.27 per cent for three years.

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