As per the new rates, effective from June 8, the rate of interest for domestic accounts for 15 to 30 days is 7 per cent, 8 per cent for a period ranging from 31 to 45 days, 9 per cent from 46 days to 90 days, 10 per cent from 91 days to 180 days, 11 per cent from 181 days to one year and 11.50 per cent from above 1 year to 2 years and 12 per cent for 2 to 5 years.

The rates of interest for non-resident accounts for a period raging from 6 months to 12 months will be 11 per cent, above 12 months upto 24 months, it will be 11.50 per cent, above 24 months upto 36 months will be 12 per cent and it will be 12.50 per cent above 36 months. However, the interest rate on non resident ( Non Repatriable) Account will be 12.50 per cent for a period ranging between 6 months to 36 months.