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Karnataka Bank revises FCNR (B) rates

MANGALORE: Karnataka Bank has revised the interest rates on non-resident (external) rupee deposit (NRE) and FCNR (B) deposits with effect from February 1. NRE deposits of one year to less than two years will fetch an interest of 5.93 per cent (6.33 per cent), two years to less than three years 5.85 per cent (6.16 per cent) and three years and up to five years 5.80 per cent (6.08 per cent). It has also revised the FCNR (B) deposit rates for various currencies and maturities with effect from Thursday, says a release.

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