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Karnataka Bank revises rates

MANGALORE: Karnataka Bank has revised the interest rates on non-resident (external) rupee deposit (NRE) and FCNR (B) deposits with effect from January 1. The rate for NRE deposits for one year to less than two years is 6.33 per cent (6.24 per cent), two years to less than three years 6.16 per cent (6 per cent) and three years and up to five years 6.08 per cent (5.91 per cent). As regards FCNR (B) deposits, the rate for U.S. dollar deposits for up to one year is 5.33 per cent (5.24 per cent). The rates for British pound sterling and euro deposits have also been revised, according to a bank release.

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