Thiruvananthapuram, December 23: The State Bank of Travancore has announced an attractive hike in interest rates on NRI term deposits for Christmas and New year.
The new interest rates would be effective from December 24 for fresh deposits and renewal of maturing deposits. As per the revision, the interest rates for deposits for a period of one year to less than two years would be eight percent, an all time high in recent years. Interest rate for a period of two years to less than three years would be 7.50 percent. The rate for three years and above upto five years would be seven percent.
The new interest rates would be effective from December 24 for fresh deposits and renewal of maturing deposits. As per the revision, the interest rates for deposits for a period of one year to less than two years would be eight percent, an all time high in recent years. Interest rate for a period of two years to less than three years would be 7.50 percent. The rate for three years and above upto five years would be seven percent.