Mumbay, July 11: SIB, South Indian Bank has raised the interest rate for NRE rupee accounts, effective from July 1, 2006.

• One year and up to 10 years, the bank now offers 6.70 per cent interest from the earlier 6.43 per cent.
• The bank has also hiked the interest rates on FCNR (B) deposits with effect from July 1, 2006.

• For one year to less than 2 years, the new interest rate is 5.69 per cent on USD, 5.01 per cent on GBP and 3.52 per cent on Euro.
• For 2 years to less than 3 years, it's 5.69 (USD), 5.13 (GBP) and 3.82 for deposits in Euro.
• For 3 years to less than 4 years, it is 5.68 per cent on USD, 5.19 per cent on GBP and 3.94 per cent on Euro.
• For 4 years to less than 5 years, it is 5.70 per cent on USD, 5.21 per cent on GBP deposits and 4.03 per cent on Euro deposits.
• For five-year term deposits in USD, the rate is 5.72 per cent, 5.21 per cent on GBP and 4.09 per cent on Euro deposits.