MUMBAI: State Bank of India , the country's biggest lender, has raised term deposit rates for non-resident external accounts by up to 574 basis points from Jan.1.
Deposits below 10 million rupees will earn interest rates of 9.25 percent, while those above 10 million rupees will earn 9 percent for 1-2 years maturity from 3.82 percent earlier, it said in a press release.
The Reserve Bank of India deregulated interest rates on non-resident external ( NRE) rupee deposits and ordinary non-resident accounts earlier this month to provide greater flexibility to banks to attract dollars.
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State Bank of India raises NRI deposit rates
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State Bank of India raises NRI deposit rates
by nahia on Fri Dec 30, 2011 7:35 am
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