UCO Bank cuts FCNR (B) rates
By Our Banking Bureau | 18 Oct 2004
Kolkata: UCO Bank has reduced the interest rates on foreign currency non-resident (Banks) deposits. The revised rates will come into effect from Monday.
For deposits held in US dollars, the interest rates will now be 2.16 per cent as compared to 2.29 per cent for the period from one year to less than two years, and 2.55 per cent (2.77 per cent) for the period from two years to less than three years, according to a UCO Bank press release.
For deposits of three years, the rates have been revised to 2.89 per cent (3.14 per cent).
For deposits held in pounds sterling, the depositors will get 4.79 per cent (4.84 per cent) for the period from one year to less than two years, 4.71 per cent (4.81 per cent) for the period from two years to less than three years and 4.73 per cent (4.84 per cent) for three years.
For euro deposits, the corresponding rates will be 2.05 per cent (2.11 per cent), 2.33 per cent (2.45 per cent) and 2.59 per cent (2.73 per cent).
