Kerala-based South Indian Bank (SIB) has revised interest rates on FCNR and NRE deposits from August 1.
The NRE term deposit interest rates for one year to less than two years had been fixed at 3.25 per cent from 3.36 per cent, two years to less than 3 years duration at 3.31 per cent, up from 3.28 per cent.
The interest rate on deposits upto three years and inclusive of 10 years had been raised to 3.92 per cent from 3.87 per cent.
The revised interest rate for an FCNR deposit in US dollars of two years to less than three years duration had been increased to 2.56 per cent from 2.53 per cent.
The three year to less than four years FCNR deposits will have a new interest rate of 3.17 per cent as against 3.12 per cent earlier, while the 4 years to less than 5 years duration deposit will attract 3.64 per cent, up from 3.57 per cent and for five years increased to four per cent against 3.93 per cent, a press release said here today.