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Our Bureau

Mumbai/Kochi, April 21

Central Bank of India increased the interest rates on non-resident (external) rupee time deposits by 30 basis points across all maturities with immediate effect, said a press release from the bank. The rates on NRE time deposits have been revised to 6.3 per cent from 6 per cent.

Dhanalakshmi Bank has revised interest rates for NRE deposits with effect from April 19. It offers 6.3 per cent interest for NRE deposits with maturity of one to two years (6.05 per cent), two to three years (6.05 per cent) and three to 10 years (6.02 per cent).

Lord Krishna Bank has also increased interest rates on NRE deposits with effect from April 19. It offers 6.3 per cent interest for NRE deposits with maturity of one to two years (6.04 per cent), two to three years (6.04 per cent) and above three years (6.02 per cent).

South Indian Bank has hiked interest rates for NRE deposits from April 19. NRE deposits of one to two year maturity, would henceforth command an interest rate of 6.30 per cent (6.05 per cent). NRE deposits of two to three years would be 6.30 per cent and for three years to 10 years, it would be 6.30 per cent (5.05 per cent).

More Stories on : Interest Rates | NRIs

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