Monday, November 7, 2011

Federal Bank now accepts deposits in 9 currencies

To lure more non-resident customers to invest with it, Kerala based private sector lender Federal Bank now accepts non-resident (FCNR) deposits from a broad range of 9 different currencies which includes US, Canadian, Australian, Singaporean and Hong Kong dollars, as well as the British pound, euro, yen and Swiss franc.

The bank has also hiked the interest rates applicable on such fixed deposits, the interest rates on the deposits in US currency now ranges in between 1.94%-2.69% across various maturities.

This facility is effective from 1st November.

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