Allhabad Bank revises interest rates on FCNR, NRE deposits

Kolkata, Jan 1 (UNI) Allahabad Bank has revised its interest rates on Foreign Currency Non-Resident(FCNR) deposits with effect from today.

The revised rates for US Dollar are 3.47 per cent (earlier 3.71 per cent) for one year to less than two years, 3.10 per cent (3.19 per cent) for two years to less than three years. 3.20 per cent (3.25 per cent) to three years to less than four years), 3.34 per cent (earlier 3.34 per cent) for four years to less than five five years and 3.47 per cent (earlier 3.44 per cent) for five years only.

In the case of Great Britain's Pound deposits, the revised rates are 4.99 per cent (5.30 per cent), 4.52 per cent (4.77 per cent), 4.66 per cent, 4.41 per cent (4.62 per cent) and 4.39 per cent (4.56 per cent) for respective maturities.

For EURO deposits, the Bank has fixed interest rates at 4.00 per cent (3.94 per cent), 3.79 per cent (3.67 per cent) and 3.78 per cent (3.64 per cent) 3.79 per cent (3.64 per cent) and 3.82 per cent (3.65 per cent) for corresponding maturities.

With regard to Canadian Dollar the pubic sector bank has fixed interest rates at 3.80 per cent (3.98 per cent) 3.49 per cent (3.44 per cent), 3.59 per cent (3.54 per cent), 3.68 per cent (3.62 per cent) and 3.73 per cent (3.68 per cent) for respective maturities.

For Australian Dollars the interest rates fixed by the Bank are 6.96 per cent (6.95 per cent), 6.73 per cent (6.67 per cent), 6.79 per cent (6.67 per cent), 6.86 per cent (6.68 per cent), and 6.80 per cent (6.60 per cent) for the respective maturities.

Rates for NRE term deposits, also with effect from today are 4.22 per cent (4.46 per cent) for one year to less than two years, 3.85 per cent (3.94 per cent) for two years to less than three years and 3.95 per cent (4.00 per cent) for three years.

UNI PC PL RN/DB1644