Punjab

New Delhi, July 4 (UNI) The Punjab and Sind Bank today said it has hiked the interest rates on Foreigh currency, Non-Resident Bank Deposits and NRE term deposits with effect from July 1, 2006.

Interest rates on US dollar deposits have been hiked from 5.43 per cent per annum to 5.69 per cent per annum for 1 year to less than 2 years, from 5.42 per cent to 5.69 for two years to less than 3 years, from 5.45 per cent to 5.68 per cent for 3 years to less than 4 years.

Further interest rates have been hiked from 5.47 per cent to 5.70 per cent for 4 years to less than 5 years and from 5.50 per cent to 5.72 per cent for 5 years.

Interest rates on pound deposits have been hiked from 4.94 per cent to 5.01 per cent per annum for 1 year to less than 2 years, from 5.03 per cent to 5.13 per cent for two years to less than 3 years, from 5.08 per cent 5.19 per cent for 3 years to less than 4 years, from 5.10 per cent to 5.21 per cent for 4 years to less than 5 years and 5.09 per cent to 5.21 per cent for 5 years.

Interest rates on Euro, Canadian and Australian dollar deposits have also been hiked.

Interest rates on NRE term deposits have been hiked to 6.70 per cent from 1 year to 3 years, from the present 6.43 per cent for maturity of 1 year to less than 2 years, 6.42 per cdnt for 2 years to less than 3 years, 6.45 per cent for 3 years.

UNI RA PV BD1713