Canara Bank revises FCNR rates

Canara Bank has revised the rate of interest in the foreign currency non-resident (banks), or FCNR (B), segment. A press release issued by the bank said the interest rates have been increased by 0.50% over prevailing rates under all slabs in all deposits in pound, euro, Australian, Canadian and the US dollar on varying maturities from 1-5 years period. Now the rate of interest for a maturity period of 1 -2 years in dollar, pound and euro will be 2.96%, 5.77% and 5.08% respectively. For deposits in Canadian and Australian dollar also, there will be 0.50% increase in the prevailing rates, the release added.