SBT revises interest rates

THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has announced a revision of interest rates for NRE deposits with effect from Friday.

As per the revision, interest rate for NRE term deposits for periods from one year to less than two years will be 2.92 per cent, for two years to less than three years, it will be 2.72 per cent and for three years and above up to 5 years, it will be 3.08 per cent.

Interest rate for FCNR deposits in dollars will be 2.17 per cent for a period of one year to less than two years, 1.97 per cent for two years to less than three years, 2.33 per cent for three years to less than four years, 2.71 per cent for four years to less than five years and 3.05 per cent for five years. For deposits in pound sterling, the corresponding rates will be 2.46 per cent, 2.43 %, 2.8 %, 3.16% and 3.45 %.