Financial Daily from THE HINDU group of publications
Monday, Nov 21, 2005
Financial Daily from THE HINDU group of publications Monday, Nov 21, 2005 |
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Money & Banking
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Fixed Deposits Canara Bank, Corporation Bank raise NRE deposit rates Our Bureau
Bangalore , Nov. 20 CANARA Bank and Corporation Bank have hiked NRE (non-resident external rupee) term deposit rates with effect from November 18. A Canara Bank release said that one-year term rates are now 5.5 per cent, up from 5.20 per cent and three year rates are 5.7 per cent, from 5.4 per cent. After this revision, one-year term NRE term deposit rates are 25 basis points higher than tht on domestic deposits. However, the three-year NRE deposit rates are lower than domestic rates by five basis points.
Our Mangalore Bureau reports: A Corporation Bank release said the new rates are applicable on fresh deposits and on renewals.
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