PNB revises interest rates on NRE, FCNR accounts

Kozhikode, July 5: One of the commercial banking majors Punjab National Bank (PNB) has announced an upward revision of interests on NRE and FCNR(B) deposit schemes with effect from July two.

The revised rates on USD deposits were 4.68 per cent for maturity of one year to less than two years, 4.68 per pent for maturity of two years to less than three years, 4.71 per cent for three years to less than four years, 4.75 per cent for four years to less than five yars and 4.79 per cent for five years, according to a PNB release here today.

For British Pound the rates would be 5.57 per cent for first maturity and 5.55 per cent for second maturity.

Revised rates for Euro would be 3.78, 3.96, 4.00, 4.01 and 4.03 per cent from first to fifth maturities and for Candian dollar it would be 4.10, 4.19, 4.25, 4.29 and 4.41 per cent. Australian dollar deposits would have 6.02, 6.06, 6.14, 6.22 and 6.22 per cent rates from first till fifth maturities, the release added.

The revised interest rate on NRE rupee term deposits (PNB Global Rupee Desposit Scheme) for July 2007 was 5.43 per cent for one to less than two years deposits, while it was 5.43 per cent for two to less than three years deposits and 5.46 per cent for three to five years deposits, the release added.

UNI