Bank of Baroda hikes interest rates on FCNR (B)
Our Banking Bureau
08 May 2004
Mumbai: Bank of Baroda has raised the interest rates on FCNR (B) deposits with effect from May 5, 2004.
The interest rates have gone up from 1.46 per cent to 1.58 per cent in USD deposits for one year up to two years, from 2.37 per cent to 2.48 per cent for two years up to three years and from 2.85 per cent to 3.05 per cent for three years.
In sterling pound deposits, the interest rates have gone up from 4.54 per cent to 4.64 per cent for one year up to two years, from 4.72 per cent to 4.81 per cent for two years up to three years, and from 4.85 per cent to 4.94 per cent for three-year deposits.
In the case of euro deposits, the interest rates have gone up from 1.94 per cent to 2 per cent for one year up to two years, from 2.39 per cent to 2.43 per cent for two years up to three years, and from 2.74 per cent to 2.79 per cent for three years.
Interest rates on FCNR (B) deposits wef May 5, 2004 (Figures in brackets indicate existing rates wef April 28, 2004)
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