The public sector lender, State Bank of Travancore, has revised its interest rates on all FCNR fixed deposits. The new rates have been made effective from November 3, 2012.
The new interest rates on FCNR term deposits (US Dollars) has been fixed at 2.88 percent for deposits of one year to less than two years; 2.40 percent for deposits of two years to less than three years; 3.52 percent for deposits of three years to less than 4 years; 3.68 percent for term deposits of four year to less than five years and 3.87 percent for deposits of five years.
Interest rates of fixed deposits in pound sterling for corresponding time periods are: 3.10 percent; 2.71 percent; 3.79 percent; 3.92 percent and 4.08 percent. Similarly, the rates for corresponding deposits in Euro are 2.55 percent; 2.49 percent; 3.62 percent; 3.78 percent; and 3.99 percent.
Further, for RFC fixed deposits of six months to less than one year the interest rate will be 1 percent; for deposits of one year to less than two years the interest rate will be 2.88 percent; for deposits of two years to less than three years the interest rate will be 2.40 percent and for deposits of three years the rate will be 3.52 percent.