Financial Daily from THE HINDU group of publications
Thursday, Jul 01, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 01, 2004 |
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Money & Banking
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Interest Rates Corpn Bank cuts rates on FCNR(B) deposits Our Bureau
Mangalore , June 30 CORPORATION Bank has reduced interest rates on FCNR(B) deposits with effect from June 30. A bank release said here on Wednesday that the interest rate on the US dollar for a period of one year to less than two years has remained unchanged at 2.13 per cent per annum. Interest rate for two years to less than three years is 2.90 per cent per annum (previously 3.01 per cent), and for three years only is 3.42 per cent (3.53 per cent). The release said that interest rate on the euro is 2.13 per cent (2.19 per cent) for a period of one year to less than two years, and 2.61 per cent (2.67 per cent) for two years to less than three years. For three years only, it is 2.98 per cent (3.09 per cent). Interest rate on the pound for one year to less than two years is 5.02 per cent (5.12 per cent), and for two years to less than three years is 5.12 per cent (5.25 per cent). The rate for three years only is 5.20 per cent (5.33 per cent). Interest rates on RFC deposits are also revised accordingly, the release added.
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