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Karnataka Bank ups NRE deposit rates

MANGALORE: The Karnataka Bank has revised its interest rates on its non-resident (external) rupee deposit (NRE) scheme with effect from October 1. For deposits of one year to less than two years, the interest rate has been revised to 5 per cent from 4.80 per cent, for two years to less than three years to 5.10 per cent (4.90 per cent) and for three years and up to five years to 5.20 per cent (4.90 per cent). The interest rate on non-resident (external) rupee (NRE) savings deposit has been revised from 3.70 per cent to 4.20 per cent.

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