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Karnataka Bank revises NRE, FCNR (B) rates

MANGALORE: Karnataka Bank has revised interest rates on its non-resident (external) rupee deposit (NRE) scheme and FCNR (B) deposits with effect from Monday. According to a bank press release, the NRE deposit rates for a period of one year to less than two years is 6.30 per cent (6.41 per cent), for two years to less than three years 6.09 per cent (6.24 per cent) and for three years and up to five years 6.01 per cent (6.18 per cent). Likewise, interest rates on FCNR (B) deposits for one year for U.S. dollar 5.30 per cent (5.41 per cent) and 5.04 per cent (5.22 per cent) for five years.

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