Allahabad Bank has raised the interest rates on Foreign Currency Non-Resident (FCNR) deposits with effect from 16th November, 2008.

The revised rates for US Dollar are 4.17 per cent (earlier 3.42 per cent) for one year to less than two years, 3.66 per cent (2.91 per cent) for two years to less than three years,   4.14 per cent (3.39 per cent) for three years to less than four years), 4.49 per cent (earlier 3.74 per cent) for four years to less than five years and 4.76 per cent (earlier 4.01 percent) for five years only.

In case of GB Pound deposits, the revised rates are 7.01 per cent (6.26 per cent), 5.19 per cent (4.44 per cent), 5.32 per cent (4.57 per cent), 5.42 per cent (4.67 per cent) and 5.51 per cent (4.76 per cent) for respective maturities.

For EURO deposits, the Bank has fixed interest rates at 5.87 per cent (5.12 per cent), 4.59 per cent (3.84 per cent) and 4.70 per cent (3.95 per cent ), 4.81 per cent ( 4.06 per cent) and 4.91 per cent (4.16 per cent) for corresponding maturities .

With regard to Canadian Dollar the Bank has fixed interest rates at 4.17 per cent (3.42 per cent), 3.26 per cent (2.51 per cent), 3.52 per cent (2.77 per cent), 3.70 per cent (2.95 per cent) and 3.89 per cent (3.14 per cent) for respective maturities.

 For Australian Dollars the interest rates fixed by the Bank are 7.28 per cent (6.53 per cent), 6.14 per cent (5.39 per cent), 6.44 per cent (5.69 per cent), 6.66 per cent  (5.91  per cent) and 6.72 per cent (5.97per cent) for the respective maturities.

Rates for NRE Term Deposits  w.e.f.  16.11.2008 are 4.92 per cent (4.17per cent) for one year to less than two years, 4.41 per cent (3.66 per cent) for two years to less than three years and 4.89  per cent ( 4.14 per cent)  for three years.

The rate for NRE Savings Bank Deposit remains unchanged at 3.50 per cent.

Publicity Department
18th November, 2008

Press Corner