[www.keralites.net] SBI Cuts interest rates on NRE/NRO Deposits

 

SBI Cuts interest rates on NRE/NRO Deposits

 

SBI revised its interest rates on NRE/NRO deposits for tenors of 5 years and above to 8.50% per annum from 7th August

 

Mumbai: State Bank of India said it has reduced interest rates in non-resident-external (NRE) and non-resident ordinary (NRO) deposits of five years and more maturity, to 8.50%, reports PTI.

"The bank has decided to revise downwards the interest rates on NRE/NRO deposits for tenors of 5 years and above to 8.50% per annum with effect from 7th August 2012," it said in a BSE filing.

 

Best Regards

Prakash Nair

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www.keralites.net

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