Mangalore, June 14: The Mangalore-based Corporation Bank has revised the interest rates offered on FCNR(B) deposits with effect from June 9, ’03. The interest rates on the US dollar, for the tenure of one year and to less than two years and two years to less than three years would remain unchanged at 0.9% and 1.2% respectively, a bank release said. The rate applicable for a period of three years only was revised to 1.55% from earlier 1.65%, it said. Presently, FCNR (B) deposits are accepted in three currencies — US dollar, Great Britain pound and the euro, the release added. The interest rates offered on the euro have also been revised.

On deposits for a period of one year to less than two years, the rate is 1.9%, it said. The revised rates for two years and less than three years and for three years would be 2% against the earlier 2.05% and 2.25%(2.3%) respectively, the release said. Bureau Report