October 13th, 2008 
Tushar Mathur
Dena Bank a public sector lender on Monday announced interest rate of 10.25 per cent per annum on domestic term deposits of 700 days. A bank press release said senior citizens will be offered interest of 10.75 per cent per annum for the same period.
According to press release bank will also be revising interest rates on NRE rupee term deposits on maturity period of one year and above but less than two years where the new interest rate will be 4.46 per cent as against the earlier 3.17 per cent.
The release also stated that bank has also raised its interest rates on FCNR (B)/RFC term deposits in dollar (USD), Pound (GBP), Euro, Canadian (CAD) and Australian (AUD) dollars for the maturity period of one year and above but less than two years.
Thus the increased interest rate on dollar in this tenure will be 3.71 per cent as against the earlier 2.96 per cent, on GBP it will be 6.27 per cent as against the earlier 5.77 per cent whereas on the Euro it will be 5.24 per cent as against 5.08 per cent.
On CAD, the bank has fixed the at 4.55 per cent as against the earlier 3.42 per cent and on AUD at 7.55 per cent as against the earlier 7.22 per cent.
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