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Karnataka Bank revises FCNR (B) interest rates

MANGALORE: Karnataka Bank has revised the interest rates on its non-resident (external) rupee deposit (NRE) and FCNR (B) deposits with effect from March 1. NRE deposits for period of one year to less than two years will fetch an interest of 5.74 per cent (5.94 per cent previously), for two years to less than three years 5.55 per cent (5.85 per cent) and for three years and up to five years 5.48 per cent (5.80 per cent). The bank has also revised the interest rate on FCNR (B) deposits for various currencies and maturities with effect from Thursday.

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