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Dena Bank Hikes Interest Rates on FCNR Bank Deposits

The revised rates for deposits of 3 to less than 4 years in dollar is 4.3 per cent (from 4.11 per cent earlier); 4.57 per cent for 4 to less than 5 years; 4.77 per cent for 5 years; 2.89 per cent for 2 to less than 3 years, and 2.45 per cent for deposits of 1 year to less than 2 years.
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New Delhi: Dena Bank has increased interest rates on foreign currency non-resident (bank) deposit (FCNR-B) in various range for maturities of one year to five years.

"Dena Bank increases interest rates on FCNR (B)/RFC term deposit effective from January 1, 2015," the bank said in a release.

The revised rates for deposits of 3 to less than 4 years in dollar is 4.3 per cent (from 4.11 per cent earlier); 4.57 per cent for 4 to less than 5 years; 4.77 per cent for 5 years; 2.89 per cent for 2 to less than 3 years, and 2.45 per cent for deposits of 1 year to less than 2 years.

Similarly, the increased interest rates for Pound Sterling (GBP) ranges from 2.65 per cent to 4.45 per cent; between 2.18 per cent to 3.36 per cent for EURO deposits.

The interest rates are 3.46-4.81 per cent for Canadian Dollar; 4.53-5.69 per cent for Australian Dollar; 2.77-4.92 per cent for Singapore Dollar and between 2.56-4.85 per cent for Hong Kong Dollar.

Shares of Dena Bank traded at Rs 63.45 per piece on the BSE, up 0.16 per cent from previous close.



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