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OBC revises FCNR rates upward

Oriental Bank of Commerce (OBC) has revised interest rates on foreign currency non resident (FCNR) deposits on all maturities from one to five years

Apnaloan.com Research Bureau

12 Sep 2007

Oriental Bank of Commerce (OBC) has revised its interest rates on foreign currency non resident (FCNR) deposits on all maturities from one to five years in respect of US dollars, British Pound, Euro, Australian dollar and Canadian dollar denominated deposits.

A bank release said that there was upward revision in interest rates of 1 to 2 years for all the currencies: dollar deposit rates for 1 to 2 years have been revised to 4.53 per cent, pound deposits to 5.82 per cent, euro deposits to 4.03 per cent, Australian dollar deposits to 6.36 per cent and Canadian dollar deposits to 4.24 per cent respectively.