Public sector lender, Corporation Bank has announced a rise in interest rates of NRE deposits. The new rates have come to effect from yesterday, March 01, 2011.

The deposits of tenor in the range of 1 year to less than 2 years will now fetch an interest of 2.54% as against 2.53% earlier.

Interest rates for the 2-3 year deposits have been raised to 2.66% from 2.53% earlier.

The 3-10 year deposits will now have interest of 3.19%.