Allahabad Bank revises interest rates on FCNR

Kolkata, May 2 (UNI) Allahabad Bank has revised its interest rates on Foreign Currency Non-Resident (FCNR) deposits with effect from May 1,2008.

The revised rates for US Dollar are 2.33 per cent (earlier 1,74 per cent) for one year to less than two years, 2.43 per cent (1.75 per cent) for two years to less than three years, and 2.70 per cent (2.06 per cent) for three years to less than four years.

For four to less than five years, the new rate was 2,93 per cent from 2.36 per cent and for five years the rate was 3.11 per cent from earlier 2.65 per cent.

In case of Great Britain's Pound deposits, the revised rates were 5.06 per cent (5.09 per cent), 4.65 per cent (4.39 per cent), 4.62 per cent (4.33 per cent), 4.59 per cent (4.30 per cent) and 4.54 per cent (4.28 per cent) for respective maturities.

For EURO deposits, the Bank had fixed interest rates at 4.21 per cent (3.98 per cent), 3.78 per cent (3.50 per cent) and 3.68 per cent (3.43 per cent), 3.65 per cent (3.42 per cent) and 3.64 per cent (3.43 per cent) for corresponding maturities.

With regard to Canadian Dollar, the Bank had fixed interest rates at 2,91 per cent (2.80 per cent), 2.64 per cent (2.45 per cent), 2,79 per cent (2.66 per cent) 2.91 per cent (2.81 per cent) and 3.03 per cent (2.94 per cent) for respective maturites.

For Australian Dollars the interest rates fixed by the Bank were 7,91 per cent (7.33 per cent) 6.91 per cent (6.59 per cent), 6.82 per cent (6,51 per cent) 6.86 per cent (6.57 per cent) and 6.78 per cent (6.55 per cent) for the respective maturities.

Rates for NRE Term Deposits from May 1, 2008 were 3.08 per cent (2.49 per cent) for one year to less than two years, 3.18 per cent (2.50 per cent) for two years to less than three years and 3.45 per cent (2.81 per cent) for three years.

UNI PC SJC RN1927