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Karnataka Bank revises NRE/FCNR (B) rates

MANGALORE: Karnataka Bank has revised the interest rates on Non-Resident (External) Rupee Deposits (NRE) and FCNR (B) deposits with effect from September 1. The interest rate on NRE deposits of one year to less than two years is 6.41 per cent (6.54 per cent). For FCNR (B) deposits of one year maturity, the rates are 5.24 per cent (5.04 per cent), 5.41 per cent (5.54 per cent), 3.63 per cent (3.55 per cent) for British pound, U.S. dollar and Euro deposits, respectively. The rates for other maturity periods have also been revised.

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