NriDealExpert | Updated: July 30, 2018 13:01 IST
State Bank of India (SBI), India's largest bank has increased its NRO and NRE Fixed Deposit (NRE FD) interest rates across tenures for NRIs. SBI has raised interest rates between 0.05% to 0.10% on NRO and NRE fixed deposits below Rs. 1 crores across tenures of 1 year to 10 years. SBI revises the fixed deposit interest rates almost after 2 months (last revision on May 28, 2018). This may trigger interest rate changes by other banks.
SBI's new NRE and NRO Fixed Deposit Interest Rates on deposits below Rs. 1 crore:
|Tenors||Current NRO & NRE FD interest rates||New NRO & NRE FD interest rates (30.07.2018)|
|1 year to less than 2 year||6.65||6.7|
|2 years to less than 3 years||6.65||6.75|
|3 years to less than 5 years||6.7||6.8|
|5 years and up to 10 years||6.75||6.85|