State Bank of Bikaner and Jaipur, the largest associate bank of State Bank of India has raised interest rates on deposits meant for NRIs.

Interest rates have been revised for FCNR and NRE deposits for all old as well as new deposits with effect from today, 01 November 2010.

The new rates for one to five years maturities are 1.76 per cent, 1.53 per cent, 1.78 per cent, 2.12 per cent and 2.47 per cent for US dollars, 2.48 per cent,2.32 per cent, 2.58 per cent, 2.88 per cent and 3.16 per cent for GB pound and 2.51 per cent, 2.60 per cent, 2.81 per cent, 3.00 per cent and 3.20 per cent for EURO, respectively.

NRE term deposits will now fetch interest of 2.51% for tenor of 1 year to less than 2 years, 2.28 per cent for 2 years to less than 3 years and 2.53 per cent for 3 to 5 years of maturities.