Andhra Bank raises NRE rates
By Our Banking Bureau | 09 Sep 2003
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Andhra Bank has announced an upward revision in interest rates offered for the term deposits under the Non-Resident External NRE rupee accounts.
Andhra Bank general manager AL Nageswara Rao says the revised interest rates will come into effect from 8 September. "The new rates are applicable to all the fresh deposits and renewals of the existing deposits from 8 September."
The interest rates for the tenure of one year to less than two years has been increased to 3.9 per cent from the existing 3.8 per cent, for two years to less than three years at 4.7 per cent (4.3 per cent) and for deposits of three years, the rate has been raised to 5.4 per cent (5 per cent).
