PNB revises interest rates on non-resident deposits

New Delhi, June 3 (UNI) Public sector Punjab National Bank (PNB) today said it has revised the rates of interest on FCNR (B) Deposits Scheme for US dollar, British Pound (BP), Euro, Canadian dollar (CAD) and Australian dollar (AUD) deposits, with effect from June 1, 2008.

The rate of interest on USD deposits has been revised to 2.41 per cent for maturity of one year to less than two years (1st maturity), 2.71 per cent for two years to less than three years (2nd maturity), 3.06 per cent for three years to less than four years (3rd maturity), 3.30 per cent for four years to less than five years (4th maturity) and 3.47 per cent for five years (5th maturity), bank said in a statement.

The rate of interest on GBP deposits has been revised to 5.40 per cent for 1st maturity, 5.26 per cent for 2nd maturity, 5.21 per cent for 3rd maturity, 5.12 per cent for 4th maturity and 5.02 per cent for 5th maturity.

Interest rate on Euro deposits has been revised to 4.34 per cent for 1st maturity, 4.23 per cent for 2nd maturity, 4.11 per cent for 3rd maturity, 4.03 per cent for 4th maturity and 3.98 per cent for the 5th maturity.

However, the rate of interest on CAD deposits has been revised to 2.92 per cent for 1st maturity, 2.76 per cent for 2nd maturity, 2.97 per cent for 3rd maturity, 3.10 per cent for 4th maturity and 3.19 per cent for 5th maturity.

Interest rate on AUD deposits has been revised to 7.66 per ent for 1st maturity, 7.08 per cent for 2nd maturity, 6.95 per cent for 3rd maturity, 6.96 per cent for 4th maturity and 6.85 per cent for 5th maturity.

The applicable rate of interest on NRE Term deposits for May 2008 is 3.16 per cent for maturities of one year to less than two years, 3.46 per cent for maturities of two year to less than three years and 3.81 per cent for maturities of three years to five years.

UNI MP SR AS1811