Public sector lender State Bank of Travancore has given a hike to interest rates of its Non Resident External (NRE) deposits.
Deposits of tenor between 1 year to less than 2 years will have interest of 3.69% and those of 2 years to less than 3 years tenor will bear interest of 3.36%.
Interest will be 3.52% for deposits of maturity between 3 years to 5 years.
FCNR deposits in USD will have interest of 2.19% for 1 year to less than 2 years tenor. For 2 years to less than 3 years tenor, the interest would be 1.86%, 2.02% for tenor of 3 years to less than 4 years.
For deposit of tenor between 4 years to less than 5 years, interest would be 2.30% and 2.62% for tenor of 5 years.