PNB revises interest rates on Non-Resident deposits

New Delhi, Jan 2: Punjab National Bank today announced a revision in the rates of interest on FCNR (B) and NRE deposits from yesterday.

The rate of interest on dollar deposits has been revised to 5.33 per cent for maturity of one year to less than two years; 5.16 per cent for two years to less than three years; 5.08 per cent for three years to less four years; 5.07 per cent for four years to less than five years and 5.09 per cent for five years.

While on pound deposits the interest rates has been revised to 5.58 per cent for 5.53 per cent; 5.51 per cent for third maturity; 5.47 per cent for fourth and 5.41 per cent for fifth maturity.

The interest on Euro deposits has been revised to 4.02 per cent for first maturity, 4.12 per cent for second maturity, 4.13 per cent for third maturity, 4.11 per cent for fourth maturity and 4.12 per cent for the fifth maturity.

The applicable rate of interest on NRE Term deposits for January, 2007 is 6.33 per cent for maturities of one year to less than two years; 6.16 per cent for maturities of two year to less than three years and 6.08 per cent for maturities of three years to five years.

UNI