Date:08/07/2006 URL: http://www.thehindu.com/2006/07/08/stories/2006070803481610.htm

Business - Briefly

LVB hikes rates on FCNR, NRE and RFC deposits

KARUR: Lakshmi Vilas Bank (LVB) has raised the interest rates on FCNR, NRE and RFC deposits for all currencies effective July 1. The rates for U.S. dollar, pound sterling and euro deposits of one to two years with previous rates in brackets are: 5.69 per cent (5.43 per cent); 5.01 (4.94); and 3.52 (3.32). The rates for other maturity periods for the above currencies have also been raised. For NRE (rupee) deposits of one to two years the rate is 6.70 (6.40).