Public sector lender, State Bank of India has raised interest rates on NRI deposits. The rate hike has been done for deposits in Pound Sterling and Euro currencies.

Deposits in Euro will now fetch 2.51 to 3.20% interest while Pound deposits will attract 2.48 to 3.16%.

The revised rates will come into effect from today, 01 November 2010.

Deposit rates in US dollar currency have however been decreased. They will now lie in the range of 0.01% to 0.24%.

Rates of NRE deposits have also been dipped.