The Hindu Business Line : Banks hike rates on FCNR deposits

A bank release said on Thursday that interest rate on the dollar for tenure of one year to less than two years is 2.85 per cent per annum (previously 2.73 per cent) and for two years to less than three years, it is 3.22 per cent (3.16 per cent). The rate applicable for three years only is 3.45 per cent (3.44 per cent).

Interest rate on the GB pound for one year to less than two years is 4.69 per cent (4.65 per cent) and for two years to less than three years is 4.60 per cent (4.57 per cent) and for three years 4.61 per cent (4.59 per cent).

Interest rate on the euro for one year to less than two years is 2.10 per cent (2.05 per cent), for two years to less than three years is 2.39 per cent (2.30 per cent) and for three years 2.60 per cent (2.53 per cent).

Our Kochi Bureau reports: Lord Krishna Bank and Dhanalakshmi have revised interest rates on Non-Resident External (NRE) and FCNR deposits with effect from January 1

Lord Krishna Bank said here that NRE deposits for three years and above would now fetch an interest of 4.20 per cent annually, for one to two years 3.60 per cent, and for two to three years, four per cent.

Dhanalakshmi Bank said interest on NRE savings deposits are raised to 2.80 per cent from 2.20 per cent.

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