Date:04/08/2004 URL: http://www.thehindubusinessline.com/2004/08/04/stories/2004080401950800.htm

Back Allahabad Bank raises FCNR, NRE rates

Our Bureau

Kolkata , Aug 3

ALLAHABAD Bank has raised the interest rates on foreign currency non-resident (FCNR) deposits and non-resident (External) Rupee (NRE) term deposit with effect from July 28.

The revised rates for US dollar are 2.16 per cent (earlier 2.08 per cent) for one year to less than two years, 2.89 per cent (2.79 per cent) for two years to less than three years, and 3.35 per cent (3.28 per cent) for three years.

In the case of Pound deposits, the revised rates are 5.04 per cent (4.99 per cent), 5.16 per cent (5.12 per cent), and 5.24 per cent (5.20 per cent) for respective maturities.

For Euro deposits, the bank has fixed interest rates at 2.17 per cent (2.14 per cent), 2.61 per cent (2.56 per cent), and 2.96 per cent (2.91 per cent).

The revised rates for NRE term deposits are: 2.40 per cent (earlier 2.33 per cent) for one year to less than two years, 3.14 per cent (3.04 per cent) for two years to less than three years, and 3.60 per cent (3.53 per cent) for three years.