The Hindu Business Line : Allahabad Bank raises FCNR deposit rates

ALLAHABAD Bank revised upward the interest rates on Foreign Currency Non-Resident (FCNR) deposits with effect from April 5, according to a press release issued by the bank.

The revised rates for US$ are 1.25 per cent (earlier 1.14 per cent) for one year to less than two years, 1.94 per cent (1.77 per cent) for two years to less than three years and 2.5 per cent (2.34 per cent) for three years.

For deposits in British pounds, the revised rates are 4.6 per cent (4.37 per cent) for one year to less than two years, 4.76 per cent (4.56 per cent) for two years to less than three years and 4.86 per cent (4.68 per cent) for three years. For deposits in euro, the corresponding rates are 1.94 per cent (1.91 per cent), 2.29 per cent (2.26 per cent) and 2.65 per cent (2.59 per cent).

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