Business - Briefly

Corporation Bank revises FCNR (B) rates

MANGALORE: Corporation Bank has revised the interest rate on FCNR (B) deposits. For dollar deposits of one year and to less than two years it is 2 per cent (2.09 per cent), for two years to less than three years 2.70 per cent (2.83 per cent) and for three years only it is 3.20 per cent (3.34 per cent). The rates offered on the euro deposits are: 2.08 per cent (2.11 per cent) for one year to less than two years, for two years to less than three years 2.52 per cent (2.54 per cent) and for three years only it is 2.86 per cent (2.90 per cent). The interest rate on pound sterling deposits for one year to less than two years is 4.99 per cent (5 per cent), for two years to less than three years 5.08 per cent (5.06 per cent) and for three years only 5.16 per cent (5.14 per cent). The interest rates on RFC deposits are also revised accordingly, says a bank release. — Our Staff Correspondent

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