The Hindu Business Line : NRE, FCNR deposit rates cut

Lakshmi Vilas Bank has effected a downward revision in its NRE, FCNR (B) and RFC deposit rates from February 1.NRE term deposits with tenure of one to two years would now fetch 5.93 per cent (6.33 per cent) as interest while the returns on the 2 to 3 years and deposits beyond three years have fallen to 5.85 (6.16 per cent) and 5.80 percent (6.08 per cent), respectively.

On the FCNR (B) dollar deposits with tenure 1 to 2 years, the rate has slipped to 5.18 per cent (5.33 per cent), for the 2 to 3 years period to 5.10 per cent (5.16 per cent) and further down to 5.05 per cent for the 3 to 5 years term.

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