Date:31/03/2006 URL: http://www.thehindubusinessline.com/2006/03/31/stories/2006033104310600.htm

Back LVB raises FCNR deposit rates

Our Bureau

Coimbatore, March 30

Lakshmi Vilas Bank has effected an upward revision of the FCNR deposit rates for all currencies from March 29.

The US dollar deposit with tenure of one and two years will now fetch interest at 5.15 per cent (4.90 per cent), while deposits between two and three years 5.13 per cent (4.88). For tenure ranging beyond three years, the rate is uniform at 5.11 per cent ( 4.86 per cent). The pound sterling deposit rate has been hiked to 4.67 per cent (4.42) for deposits with a time band of one and two years, to 4.71 per cent (4.46) for the two-three years, to 4.73 per cent (4.48) for three-four yearst. For four-five year, the rate would be marginally lower at 4.72 per cent (4.47) and for deposits beyond five years at 4.70 per cent (4.45). The rate on the euro deposit ranges from 2.98 per cent (2.73) for the one-two year period to 3.46 per cent (3.21) for deposits beyond five years.