The Hindu Business Line : Rates cut on dollar deposits

Allahabad Bank has revised the interest rates on foreign currency non-resident (FCNR) deposits. The revised rates came into force from Tuesday. The revised rates for dollar are 1.74 per cent ( earlier 1.96 per cent) for one year to less than two years, 1.75 per cent (1.87 per cent) for two years to less than three years, two per cent (2.19 per cent) for three years to less than four years, 2.36 per cent ( 2.48 per cent) for four years to less than five years and 2.65 per cent (2.74 per cent) for five years.

In case of ounds, the corresponding revised rates will be 5.09 per cent ( 4.81 per cent), 4.39 per cent (4.16 per cent), 4.33 per cent (4.14 per cent), 4.30 per cent (4.18 per cent) and 4.28 per cent (4.22 per cent).

For euro deposits, the corresponding revised rates are 3.98 per cent (3.64 per cent), 3.50 per cent (3.08 per cent), 3.43 per cent (3.08 per cent), 3.42 per cent (3.13 per cent) and 3.43 per cent (3.21 per cent).

The rates for NRE term deposits are 2.49 per cent (2.71 per cent) for one year to less than two years, 2.50 per cent (2.62 per cent) for two years to less than three years and 2.81 per cent (2.94 per cent) for three years. - Our Bureau

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