The Hindu : Business / Briefly : IOB revises FCNR, NRE rates

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Friday, Jan 05, 2007
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IOB revises FCNR, NRE rates

CHENNAI: Indian Overseas Bank has revised its FCNR interest rates upward with effect from January 1 for all foreign currency deposits. The revised interest rate on U.S. dollar deposits for one year to less than two years is 5.33 per cent against 5.24 per cent, two years to less than three years 5.16 per cent (5 per cent), three years to less than four years 5.08 per cent (4.91 per cent), four years to less than five years 5.07 per cent (4.89 per cent) and for a maturity of five years 5.09 per cent (4.90 per cent). The bank has also revised interest rates for NRE deposits.

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