PNB launches 'floating rate fixed deposit scheme'

New Delhi, Apr 18 (UNI) Country's second largest PSU bank Punjab National Bank (PNB) today announced the launch of 'Floating rate fixed deposit scheme', under which the interest rate on the fixed deposits will change automatically with revision in fixed deposit card rates.

The changes in the rate of interest will be made applicable automatically without fixed deposit receipt, the bank statement said.

A number a facilities like pre-mature withdrawal of deposit, demand loan/overdraft facility is also available under the scheme, it added.

The fixed deposit can be opened with a minimum deposit of Rs 1,000 or in multiples thereof for any period from seven days to maximum 10 years, including incomplete quarters.

UNI