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Monday, Sep 04, 2006

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FCNR deposit rates cut

Our Bureau

Coimbatore, Sept. 3

Lakshmi Vilas Bank has effected a downward revision on the FCNR, NRE and RFC deposit rates from September 1.

The rate on the FCNR $ deposit has been slashed from 5.54 per cent to 5.41 per cent for a tenure of 1 year, to 5.24 (5.44) per cent for deposits with a maturity period of 2 years, to 5.18 (5.42) per cent for the 3-year deposit, to 5.20 (5.43) per cent for deposits with a maturity period of 4 years and to 5.22 (5.46) per cent for those maturing in 5 years.

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