Allahabad Bank increases interest rate on FCNR deposits from Nov 16

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Kolkata, Nov 18(UNI) Allahabad Bank today announced increase in the interest rates on Foreign Currency Non-Resident(FCNR) deposits with effect from November 16, 2008.

According to a statement, the revised rates for US Dollar are 4.17 per cent (earlier 3.42 per cent) for one year to less than two years, 3.66 per cent(2.91 per cent) for two years to less than three years, 4.14 per cent (3.39 per cent) for three years to less than four years,4.49 per cent (3.74 per cent ) for four years to less than five years and 4.76 per cent(4.01 per cent) for five years.

In case of GB Pound deposits, the revised rates are 7.01 per cent (6.26 per cent), 5.19 per cent (4.44 per cent), 5.32 per cent (4.67 per cent) and 5.51 per cent (4.76 per cent) for respective maturities.

For Euro deposits, the bank has fixed interest rates at 5.87 per cent (5.12 per cent), 4.59 per cent (3.84 per cent) and 4.70 per cent (3.95 per cent), 4.81 per cent (4.06 per cent) and 4.91 per cent (4.16 per cent) for corresponding maturities.


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