State Bank of Travancore increases NRE term deposit rates

State Bank Of Travancore - (Amalgamated) | Bank - Public | BFSI | BSE: 532191 | NSE: SBT

29 Nov 2011 Evaluate

State Bank of Travancore (SBT) has increased its interest rates for NRE deposits across various maturities with effect from November 25, 2011. As per the changes, interest rate for NRE term deposits for periods one year to less than two years will be 3.69%; two years to less than three years, 3.36%; and three years and above up to five years, 3.52%.

Interest rate for FCNR deposits in US dollars will be 2.19% for a period of one year to less than two years; 1.86% for two years to less than three years; 2.02% for three years to less than four years; 2.30% for four years to less than five years and 2.62% for five years.

For deposits in pound sterling, the corresponding rates will be 3.01%, 2.62%, 2.75%, 2.94%, and 3.14%. The corresponding rates for deposits in euro will be 3.33%, 2.80%, 2.93%, 3.10% and 3.29%.

Interest rates for RFC term deposits for six months to less than one year will be one per cent; one year to less than two years, 2.19%; two years to less than three years, 1.86%; and for three years, 2.02%.