PSB hikes interest rates on foreign currency from Nov 1, 06

New Delhi, Nov 6 (UNI) Punjab and Sind Bank today hiked its interest rates on foreign currency, non-resident bank deposits, and NRE term deposits with effect from November 1, 2006.

Interest rates on US dollar deposits have been hiked from 5.3 per cent per annum to 5.34 per cent per annum for one year to less than 2 years and from 5.09 per cent to 5.17 per cent for two years to less than three years.

Interest rates on US dollar deposits have been further hiked from 5.01 per cent to 5.11 per cent per annum for three years to less than five years, and from 5.04 per cent to 5.12 per cent for five years.

The bank's interest rate on pound deposits have been hiked from 5.27 per cent to 5.44 per cent per annum for one year to less than two years, from 5.18 per cent to 5.37 per cent for two years to less that three years and from 5.13 per cent to 5.33 per cent for three years to less than four years.

Rates have further been hiked from 5.10 per cent to 5.27 per cent for four years to less than five years and from 5.06 per cent to 5.22 per cent for five years.

Interest rates on the Euro have also been increased from 3.71 per cent to 3.86 per cent per annum for one year to less than two years, from 3.78 per cent to 3.94 per cent per annum for two years to less than three years, from 3.77 per cent to 3.94 per cent for three years to less than four years, from 3.78 per cent to 3.93 per cent for four years to less than five years and from 3.8 per cent to 3.93 per cent for five years.

Interest on Canadian and Australian dollar deposits have also increased. Interest rates on NRE term deposits have been hiked to 6.34 per cent for maturities of one year to less than two years, 6.17 per cent for two years to less than three years and 6.11 per cent for three years.

UNI RA CS VV1749