State Bank of Travancore (SBT) raises interest rates

The State Bank of Travancore (SBT) has announced a revision in interest rates for the foreign currency non-resident (FCNR) deposits with effect from September 3.

Following the revision, the interest rate for the FCNR deposits in dollars will be 3.03 per cent for deposits for a period of one year to less than two years, 2.42 per cent for two years to less than three years, 3.50 per cent for three years to less than four years, 3.66 per cent for four years to less than five years and, 3.87 per cent for five years.

For deposits in Pound Sterling, the corresponding rates will be 3.41 per cent, 2.80 per cent, 3.83 per cent, 3.92 per cent, and 4.07 per cent. The corresponding rates for deposits in Euro will be 2.75 per cent, 2.51 per cent, 3.64 per cent, 3.79 per cent, and 3.98 per cent.

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State Bank of Travancore

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