Andhra Bank hikes interest rates on NRE deposits

Hyderabad, Sep 2 (UNI) In a bid to attract deposits, Andhra Bank has revised the rates of interest on NRE term-deposits with effect from September one.

According to a press release, with this, the interest rates offered on NRE term-deposits for one year and above, but less than two years was hiked to 6.54 per cent from 6 41 per cent, and for two years and above but less than three years rose to 6.44 per cent from 6.24 per cent, and for three years and above to 6.42 per cent from 6.18 per cent.

The revised interest rates would be applicable to all fresh deposits and renewals of the existing deposits with effect from September one, the release added.

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