PNB revises interest rates on Non-Resident Deposits

New Delhi, Dec 2 (UNI) Punjab National Bank has revised the rates of interest on FCNR (B) Deposit Scheme for USD, GBP, EURO, AUD and CAD deposits effective from December 1, 2006.

The interest rate on USD deposits has been revised to 5.24 per cent for maturity of one year to less than two years (1st maturity), 5 per cent for two years to less than three years (2nd maturity), 4.91 per cent for three years to less than 4 years (3rd maturity), 4.89 per cent for four years to less than five years (4th maturity) and 4.90 per cent for five years only (5th maturity).

The rate of interest on GBP deposits has been revised to 5.43 per cent for 1st maturity, 5.36 per cent for 2nd maturity, 5.32 per cent for 3rd maturity, 5.28 per cent for 4th maturity, 5.22 per cent for 5th maturity, a PNB statement said today.

For EURO deposits, the interest rates have been revised to 3.86 per cent for 1st maturity, 3.91 per cent for 2nd maturity, 3.89 per cent for 3rd maturity, 3.88 per cent for 4th and 5th maturity.

The applicable rate of interest on NRE deposits for this month is 6.24 per cent for maturities of one year to less than two years, 6 per cent for two years to less than three years and 5.91 per cent for maturities of three to less than five years.

UNI PV PA DS1423