Mr. S.Selvan Rajadurai, General Manager (Business Development) Tamilnad Mercantile Bank Ltd, Head office, Thoothukudi in a release to press has informed the following.
With effect from 01st September 2013, the rate of interest on FCNR (B) deposits has been revised as detailed below:
Interest rates for FCNR (B) deposits:
Currency
|
Period
| |||||||||
1 year and above but less than 2 years
|
2 years and above but less than 3 years
|
3 years and above but less than 4 years
|
4 years and above but less than 5 years
|
5 years only
| ||||||
Old
|
New
|
Old
|
New
|
Old
|
New
|
Old
|
New
|
Old
|
New
| |
USD
|
2.67
|
2.67
|
2.48
|
2.57
|
4.78
|
4.95
|
5.17
|
5.38
|
5.56
|
5.77
|
GBP
|
2.86
|
2.87
|
2.71
|
2.84
|
4.87
|
5.13
|
5.11
|
5.45
|
5.41
|
5.73
|
EUR
|
2.47
|
2.48
|
2.56
|
2.64
|
4.74
|
4.87
|
4.96
|
5.13
|
5.20
|
5.36
|
CAD
|
3.37
|
3.37
|
3.55
|
3.56
|
5.78
|
5.83
|
6.03
|
6.11
|
6.26
|
6.34
|
AUD
|
4.48
|
4.51
|
4.65
|
4.76
|
6.89
|
7.07
|
7.19
|
7.39
|
7.42
|
7.63
|
JPY
|
2.41
|
2.41
|
2.28
|
2.27
|
4.32
|
4.31
|
4.38
|
4.36
|
4.46
|
4.45
|
CHF
|
2.24
|
2.24
|
2.20
|
2.23
|
4.34
|
4.39
|
4.52
|
4.60
|
4.73
|
4.82
|
The above revised interest rate structure is effective from 01.09.2013 to 30.09.2013.
