Andhra Bank revises interset rate on NRE accounts

Hyderabad, Mar 1 (UNI) The public sector Andhra Bank revised the interest rate on Non-Resident External (NRE) accounts today.

The interest rates offered on NRE term deposits for one year and less than two years has been revised from 2.85 per cent to 2.71 per cent per annum. Interest for deposits above two years and less than three years is revised from 2.84 per cent to 2.62 per cent while for deposits above three years its been reduced from 3.08 per cent to 2.94 per cent.

''The revised interest rates are applicable to all fresh deposits and renewals of the existing deposits with effect from March one, 2008,'' a press release said here.

UNI DB GKT 1552