Allahabad bank revises interest rates on FCNR deposits

Kolkata, Mar 01 (UNI) Allahabad Bank today revised the interest rates on Foreign Currency Non-Resident (FCNR) deposits.

Following the revision the new rates for US Dollar are 4.99 per cent earlier 5.18 per cent for two years less than three years.

4.73 per cent (5.05 per cent) for three years to less than four years.4.72 per cent (earlier 5.05 per cent for four years to less than five years and 4.75 per cent (earlier 5.06 percent) for five years only, bank sources here said.

They said in case of GB Pound deposits, the revised rates were 5.49 per cent (5.62 per cent), 5.40 per cent 95.56 per cent) 5.34 per cent (5.52 per cent) 5.52 per cent) 5.29 per cent (5.47 per cent) and 5.23 per cent (5.41 per cent) for respective maturities.

Similarly for EURO deposits the bank has fixed interest rates at 3.81 per cent (3.84 per cent), 3.85 per cent (3.97 per cent) and 3.85 per cent (3.98 per cent) 3.85 per cent (3.98 per cent) and 3.85 per cent 93.99 per cent) for corresponding maturities.

Rates for NRE Term Deposits also with effect from today, are 5.74 per cent (5.93 per cent) for one year to less than two years, 5.55 per cent (5.85 per cent) for two years to less than three years and 5.48 per cent (5.80 per cent) for three years, the sources added.

UNI