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IDBI Bank increases rates on FCNR deposits

The interest rates have been revised across all permitted currencies

May 14, 2012 4:36 IST | India Infoline News Service

IDBI Bank has increased interest rates on foreign currency non resident (bank) deposits up to 175 basis points (bps) from 5 May 2012.

The revised rates on FCNR (B) deposits for one year and less than three years has been increased by 200 bps from 125 bps, while for deposits of three years to five years, the revised rates are 300 bps from 125 bps.

The interest rates have been revised across all permitted currencies i.e. US dollar, pound sterling, euro, Canadian dollar and Australian dollar.


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