PNB raises NRI deposits rates by 0.50%

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New Delhi, Oct 16 (UNI) Punjab National Bank, the country's second largest public sector bank, today announced a hike of 50 basis points (bps) in its non-resident deposits in foreign currencies, including Euro, British Pound, US dollar, Canadian and Australian dollar, with immediate effect.

The interest rate on US dollar deposits has been revised to 4.21 per cent for 1-2 years (1st maturity), 3.52 per cent for 2-3 years (2nd maturity), 3.81 per cent for 3-4 years (3rd maturity), 3.95 per cent for 4-5 years (4th maturity) and 4.14 per cent for five years (5th maturity).

The interest rate on British Pound deposits has been revised to 6.77 per cent for 1st maturity, 5.57 per cent for 2nd maturity, 5.50 per cent for 3rd maturity, 5.46 per cent for 4th maturity and 5.43 per cent for 5th maturity.

The rate of interest on EURO deposits has been revised to 5.74 per cent for 1st maturity, 4.87 per cent for 2nd maturity, 4.84 per cent for 3rd maturity, 4.87 per cent for 4th maturity and 4.87 per cent for the 5th maturity.

On Canadian Dollars deposits, the interest rate has been revised to 5.05 per cent for 1st maturity, 3.27 per cent for 2nd maturity, 3.42 per cent for 3rd maturity, 3.55 per cent for 4th maturity and 3.67 per cent for 5th maturity.

The interest rate on Australian Dollars deposits has been revised to 8.05 per cent for 1st maturity, 6.55 per cent for 2nd maturity, 6.56 per cent for 3rd maturity, 6.61 per cent for 4th maturity and 6.59 per cent for 5th maturity.

UNI MP SG GC1837

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