Dena Bank Increases Interest Rates on FCNR (B) / RFC Term Deposit Effective From January 1, 2015

Dena Bank, India’s trusted family bank, has adjusted its rate of interest downward on FCNR (B)/RFC term deposit with effective from January 1, 2015.  

For FCNR (B) deposits of 3 years to less than 4 years, in US Dollar terms, the revised interest rates are 4.30% as compared to 4.11% previous rates effective from January 1, 2015.  For FCNR (B) deposits of 4 years to less than 5 years, in US Dollar terms, the revised interest rates are 4.57% as compared to 4.43% previous rates effective from January 1, 2015. For FCNR (B) deposits of 5 years only, in US Dollar terms, the revised interest rates are 4.77% as compared to 4.67% previous rates effective from January 1, 2015.  For FCNR (B) deposits of 2 years to less than 3 years, in US Dollar terms, the revised interest rates are 2.89 % as compared to 2.71 % previous rates effective from January 1, 2015.

For FCNR (B) deposits of 1 year to less than 2 years, in US Dollar terms, the revised interest rates are 2.45 % as compared to 2.35% previous rates effective from January 1, 2015.

About Dena Bank

In its platinum jubilee year, Dena Bank was founded on May 26, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd. Dena Bank is amongst the first nationalised banks to enter equity market in November 1996.  It offers the entire gamut of banking services including Retail Banking, Corporate Banking, International Banking, Services, Priority & SME Banking amongst others. The Bank is the first public sector bank to introduce Tele-Banking facilities for its customers at selected metropolitan centers. Dena Bank offers minor savings scheme, credit card in rural India and customer rating system for rating the bank services. The Bank posted a Total Income of Rs. 2,539.74 crore and a Net Profit of Rs. 125.67 crore as of the quarter ended March 31, 2013.

For interest rates table, click here