Deutsche Bank hikes NRE interest rates

Mumbai, Jun 7: Deutsche Bank today hiked the rates on Non-Resident External (NRE) term deposits from 10 to 30 basis points.

For deposits of one year to less than two years, the interest rate has been increased to 5.39 per cent from 5.29 per cent, while the rate has been fixed at 5.32 per cent from earlier 5.06 per cent for deposits of two years to less than three years, the bank said in the relese here.

For deposits having maturity period of three years, the rate is 5.30 per cent as against the earlier rate of 5 per cent.

Non Resident Indian (NRI) customers, making fresh NRE term deposits of Rs 2 lakhs and above can also open a zero-balance NRE savings account with it, the release added.

UNI