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PNB raises interest rates on non-resident deposits

PNB raises interest rates on non-resident deposits
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First Published: Sat, Jun 02 2007. 03 57 PM IST
Updated: Sat, Jun 02 2007. 03 57 PM IST
New Delhi: Punjab National Bank on 2 May increased interest rate on Foreign Currency Non-Resident (B) Deposit Scheme for dollar, British pound, euro and Canadian and Australian dollar with effect from 1 June.
The interest rate on US dollar deposits have been hiked to 4.64% for a maturity of one year to less than two years and to 4.57% for a maturity of two years to less than three years, PNB said in a release.
For tenor of 3 to less than 5 years, interest rate has been increased to 4.55% as compared to 4.26% and to 4.57% for 5 years maturity.
On NRE Term deposits, the applicable rate of interest for June is 5.39% for maturities of one year to less than two years and 5.30% for maturity in between 2-3 years, it said.
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First Published: Sat, Jun 02 2007. 03 57 PM IST
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