Financial Daily from THE HINDU group of publications
Thursday, Oct 21, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 21, 2004 |
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Money & Banking
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Fixed Deposits Corporation Bank lowers FCNR deposit rates Our Bureau
Mangalore , Oct. 20 CORPORATION Bank has reduced interest rates offered on FCNR (B) deposits with effect from October 20. A bank release said here on Wednesday that interest rate on the US dollar is 2.16 per cent per annum (previously 2.29 per cent) for a period of one year to less than two years, and 2.60 per cent (2.83 per cent) for two years to less than three years. The rate for three years is 2.93 per cent (3.20 per cent). The interest rate on the euro is 2.05 per cent (2.11 per cent) for one year to less than two years, and 2.36 per cent (2.49 per cent) for two years to less than three years and for three years 2.62 per cent (2.76 per cent). The respective rates for pound sterling are 4.79 per cent (4.84 per cent), 4.76 per cent (4.81 per cent) and4.77 per cent (4.85 per cent).
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