Date:22/11/2005 URL: http://www.thehindubusinessline.com/2005/11/22/stories/2005112202600600.htm

Back LVB lowers NRE savings account rate

Our Bureau

Coimbatore , Nov. 21

LAKSHMI Vilas Bank has effected a downward revision on the NRE savings bank account rate and a marginal increase in the NRE term deposit rate from November 18.

The interest rate on NRE savings bank account has been brought down to 3.5 per cent from 4.25 per cent.

The NRE term deposit rate has been increased by 0.30 basis points to 5.60 per cent for less than two years periodFor deposits with tenure of three years and above, the rate has been hiked to 5.70 per cent against the earlier rate of 5.40 per cent.