Allahabad Bank revises interest rates on FCNR and NRE Deposits

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Kolkata, Aug 1 (UNI) Public sector Allahabad Bank today revised interest rates on Foreign Currency Non-Resident (FCNR) deposits with immediate effect.

The revised rates for US Dollar are 2.50 per cent (earlier 2.56 per cent) for one year to less than two years, 2.75 per cent (2.85 per cent) for two years to less than three years, and 3.11 per cent (3.20 per cent) for three years to less than four years, besides 3.34 per cent (earlier 3.42 per cent) for four years to less than five years and 3.49 per cent (earlier 3.56 per cent) for five years only.

In case of GB Pound deposits, the revised rates are 5.42 per cent (5.70 per cent), 4.88 per cent (5.50 per cent), 4.87 per cent (5.47 per cent), 4.85 per cent (5.41 per cent) and 4.81 per cent (5.32 per cent) for respective maturities.

For EURO deposits, the Bank has fixed interest rates at 4.62 per cent (4.64 per cent), 4.29 per cent (4.62 per cent) and 4.25 per cent (4.55 per cent), 4.22 per cent (4.47 per cent) and 4.19 per cent (4.41 per cent) for corresponding maturities.

With regard to Canadian Dollar the Bank has fixed interest rates at 3.10 per cent (3.29 per cent), 2.67 per cent (2.86 per cent), 2.86 per cent (3.01 per cent), 2.99 per cent (3.11 per cent) and 3.10 per cent (3.19 per cent) for respective maturities.

For Australian Dollar the interest rates fixed by the Bank are 7.37 per cent (7.77 per cent), 6.57 per cent (7.21 per cent), 6.50 per cent (7.12 per cent), 6.52 per cent (7.13 per cent) and 6.49 per cent) 7.02 per cent) for the respective maturities.

Rates for NRE Term Deposits with effect from August 1 are 3.25 per cent (3.31 per cent) for one year to less than two years, 3.50 per cent (3.60 per cent) for two years to less than three years and 3.86 per cent (3.95 per cent) for three years.

The rate for NRE Savings Bank Deposit is 3.50 per cent with effect from November 18, 2005.

UNI PC DPM RN1554

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