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Kolkata, Nov. 1

Allahabad Bank has reduced interest rates on FCNR and NRE deposits effective November 1, 2008, according to a press statement issued by the bank. For FCNR (B) deposits, the revised rates of interest on dollar deposits of various tenure are as follows: one to less than two years at 3.42 per cent (4.21 per cent), two to less than three years at 2.91 per cent (3.52 per cent), three to less than four years at 3.39 per cent (3.81 per cent), four to less than five years at 3.74 per cent (3.95 per cent) and for five years only at 4.01 per cent (4.14 per cent). The revised rates of interest on NRE deposits of various tenure are as follows: one to less than two years at 4.17 per cent (4.96 per cent), two to less than three years at 3.66 per cent (4.27 per cent) and for three years at 4.14 per cent (4.56 per cent).

— Our Bureau

More Stories on : Fixed Deposits | NRIs | Public Sector Banks

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