SBI revises interest rates for NRIs

Country's largest lender State Bank of India (SBI) today revised interest rates for deposits by non-resident Indians (NRIs) across maturities and currencies.

Under the revised rate structure, NRIs will get up to 26 basis points more for deposits in foreign currencies, while the rates for deposits in Indian rupee have gone down marginally, a release issued here by the bank said.

A deposit in Euros for a maturity above four years but less than five years will earn an NRI 3.9% a year as against the earlier 3.64%, the release said, adding, in some categories, the rates have been revised downward as well.

Rupee deposits by NRIs till five years have also seen marginal declines in the interest rate by up to 3 basis points, it said.