PNB revises interest rates on NRE

New Delhi, Sept 2: Punjab National Bank has said it has revised the rates of interest on FCNR deposits scheme for USD, GBP, EURO, AUD and CAD deposits with effect from September 1, 2007.

The rate of interest on dollar deposits has been revised to 4.53 per cent for maturity of one year to less than two years (1st maturity), 4.15 per cent for two years to less than three years (2nd maturity), 4.16 per cent for three years to less four years (3rd maturity), 4.20 per cent for four years to less than 5 years (4th maturity) and 4.26 per cent for five years only (5th maturity).

The rate of interest on GBP deposits has been revised to 5.82 per cent for 1st maturity, 5.46 per cent for 2nd maturity, 5.36 per cent for 3rd maturity, 5.29 per cent for 4th and 5.23 per cent for 5th maturity.

The applicable rate of interest on NRE Term deposits for September, 2007 is 5.28 per cent for maturities of one year to less than two years, 4.90 per cent for maturities of two year to less than three years and 4.91 per cent for maturities of three years to five years.

UNI