Punjab and Sind Bank hikes FCNR (B) and NRE interest rates

New Delhi, Jan 2 (UNI) Punjab and Sind Bank has hiked the interest rates on Foreign Currency, non-resident bank and NRE deposits with effect from yesterday.

Interest rates on dollar deposits have been hiked from 5.24 per cent to 5.33 per cent per annum for one year to less than two years; from five per cent to 5.16 per cent for two years to less than three years; from 4.91 per cent to 5.08 per cent for three years to less than four years; from 4.89 per cent to 5.07 per cent for four years to less than five years and 4.9 per cent to 5.09 per cent for five years.

Interest rate on pound/sterling have been hiked from 5.43 per cent to 5.58 per cent per annum for one year to less than two years; from 5.36 per cent to 5.53 per cent for two years to less than three years; from 5.32 per cent from 5.51 per cent for three years to less than four years; from 5.28 per cent to 5.47 per cent for four years to less than five years and from 5.22 per cent 5.41 per cent for five years.

Interest rates on NRE deposits is 6.33 per cent for maturities of one year to less than two years; 6.16 per cent for two years to less than three years and 6.08 per cent for three years.

UNI