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Money & Banking - Interest Rates


SBT rates on NRI deposits up

Our Bureau

THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has announced a hike in interest rates applicable for non-resident term deposits and savings bank accounts effective from July 1, 2004.

An SBT spokesman said here that interest rate for deposits with tenure of one year but not exceeding two years has been hiked from 2.13 per cent to 2.50 per cent, for the two-year to three-year slab from 3.01 per cent to 3.30 per cent and for maturities of three years and above from 3.53 per cent to 3.80 per cent.

The interest rate for non-resident savings bank accounts also has been raised, from 1.15 per cent to 1.90 per cent, the spokesman added.

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