Allahabad Bank Revises FCNR And NRE Deposit Rates

Kolkata, Aug 26 | Updated: Aug 27 2004, 07:14am hrs
Kolkata-based bank, Allahabad Bank, on Thursday anno-unced the revision in the interest rates on foreign current non-resident (FCNR) deposits and non resident (external) rupee term (NRE) deposit. The new rates will be effective from August 26, 2004.

According to a press statement issued by the bank here on Thursday, the revised rates for the dollar are 2.06 per cent (earlier 2.16 per cent) for one year to less than two years, 2.61 per cent (2.89 per cent) for two years to less than three years and 3.06 per cent (3.35 per cent) for three years. In case of GB pound deposits, the revised rates are 4.99 per cent (5.04 per cent), 4.99 per cent (5.16 per cent) and 5.04 per cent (5.24 per cent) for respective maturities, the press statement has added.