REG - State Bank Of India - Revision in Interest rates on NRE Rupee Deposit

Mon Jul 16, 2012 9:59am EDT

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RNS Number : 7681H
State Bank Of India
16 July 2012
 



 

 

The Executive Director

The BSE Ltd.                                                                                                    16.07.2012

Phiroze Jeejeebhoy Tower,

25th Floor, Dalal Street,                                                                       CC/S&B/VKJ/0835

Mumbai - 400001

 

Dear Sir/Madam,

 

LISTING AGREEMENT: CLAUSE 36

REVISION IN INTEREST RATES ON NRE RUPEE DEPOSIT

 

In terms of Clause 36 of the Listing Agreement, we advise that State Bank of India has decided to raise the rate of interest on NRE Rupee Term Deposits for tenors   "3 years to less than 5 years", from 8.75% to 9.00% on deposits of less than  Rs.15 lakhs, w.e.f.    17th July, 2012.

 

2. The revised interest rates for NRE Term Deposits "Below Rs. One crore', effective from 17th July 2012 would be as under :-

                                                                                                          (Interest rate in % p.a.)

Tenor

Below Rs.15 Lakhs

Rs.15 lakhs to less than Rs. 1 Cr

Existing Rates w.e.f.

24.4.2012

Revised rates  w.e.f.

17.07.2012

Existing Rates w.e.f. 24.4.2012

 

Unchanged

1 year to less than 3 years

9.00

9.00

9.00

9.00

3 years to less than 5 years

8.75

9.00

9.00

9.00

5 years and up to 10 years

8.75

8.75

9.00

9.00

 

Yours faithfully,

       … sd …

General Manager

 


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