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PNB revises interest on non-resident deposits

Written by: Staff
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New Delhi, Sept 2: Punjab National Bank has revised downwards the interest rates on FCNR (B) Deposits Scheme for USD, GBP, EURO, AUD and CAD deposits effective from this month.

The rate of interest on USD deposits has been revised to 5.41 per cent from 5.54 per cent for maturity of 1 year to less than 2 years (first maturity), 5.24 per cent from 5.44 per cent for 2 years to less than 3 years (second maturity), 5.18 per cent from 5.42 for 3 years to less 4 years (third maturity), 5.20 per cent from 5.43 per cent for 4 years to less than 5 years (fourth maturity) and 5.22 per cent from 5.46 per cent for 5 years only.

The rate of interest on GBP deposits has been revised to 5.24 per cent from 5.04 per cent for 1st maturity, 5.20 per cent from 5.08 per cent for 2nd maturity, 5.18 per cent from 5.11 per cent for 3rd maturity, 5.14 per cent from 5.12 per cent for 4th and remained unchanged at 5.11 per cent for 5th maturity.

The interest rates on EURO deposits has been revised to 3.63 per cent for 1st maturity, 3.75 per cent for 2nd maturity, 3.78 per cent for 3rd maturity, 3.81 per cent for 4th maturity and 3.85 per cent for the 5th maturity.

The rate of interest on Canadian Dollars (CAD) deposits has been revised to 4.34 per cent for 1st maturity, 4.28 per cent for 2nd maturity, 4.29 per cent for 3rd maturity, 4.30 per cent for 4th maturity and 4.34 per cent for 5th maturity.

The rate of interest on Australian Dollars (AUD) deposits has been revised to 6.35 per cent for 1st maturity, 6.25 per cent for 2nd maturity, 6.24 per cent for 3rd maturity, and 6.27 per cent for fourth maturity and 6.26 per cent for fifth maturity.

The applicable rate of interest on NRE term deposits for the month is 6.41 per cent from 6.54 per cent for maturities of 1 year to less than 2 years, 6.24 per cent from 6.44 per cent for maturities of 2 years and to less than three years and 6.18 per cent from 6.42 per cent for maturities of three years to five years.

UNI

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