Punjab National Bank (PNB) today increased interest rate on Foreign Currency Non-Resident (B) Deposit Scheme for dollar, British pound, euro and Canadian and Australian dollar with effect from June 1.The interest rate on US dollar deposits have been hiked to 4.64% for a maturity of one year to less than two years and to 4.57% for a maturity of two years to less than three years, PNB said in a release.For tenor of 3 to less than 5 years, interest rate has been increased to 4.55% as compared to 4.26% and to 4.57% for 5 years maturity.On NRE term deposits, the applicable rate of interest for June is 5.39% for maturities of one year to less than two years and 5.30% for maturity in between 2-3 years, it said.
