The Hindu Business Line : Lowers FCNR deposit rates

Allahabad Bank has lowered the rate of interest on FCNR and NRE deposits effective from September 1.The revised dollar interest rates for FCNR deposits for various tenures are: one-to-less than two years at 2.46 per cent (2.50 per cent), two-to-less than three years at 2.56 per cent (2.75 per cent), three-to-less than four years at 2.88 per cent (3.11 per cent), four-to-less than five years at 3.10 per cent (3.34 per cent) and for five years only at 3.26 per cent (3.49 per cent). The NRE deposits for various tenures have been revised as: one-to-less than two years at 3.21 per cent (3.25 per cent), for two-to-less than three years at 3.31 per cent (3.50 per cent) and for three years only at 3.63 per cent (3.86 per cent).

— Our Bureau

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