BUSINESS

LVB revises FCNR/NRE deposit rates

TIRUCHI: The Lakshmi Vilas Bank has revised the interest rates on FCNR deposits with effect from December 5. The interest rates in dollar for one year and below two years will be 1.31 per cent, 2 years to below 3 years 2.03 per cent and for 3 years 2.64 per cent. The interest rates in British Pounds for the above periods will be 4.34 per cent, 4.62 per cent and 4.81 per cent and in Euro the rates will be 2.22 per cent, 2.77 per cent and 3.14 per cent, respectively.

The interest rates on NRE deposits have also been revised with effect from December 1.

The rates will be 1.80 per cent for deposits of one year and below 2 years; 2.50 per cent for 2 years and below 3 years and 3.10 per cent for 3 years and above, according to a release.

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