PNB revises interest rates on non-resident deposits

Punjab National Bank revised interest rates on Foreign Currency Non-Resident deposit schemes for dollar, British pound and euro, effective from today.      

The interest rate on US dollar deposits has been slashed to 2.89 per cent for a maturity of 1-2 years from 2.97 per cent. For the maturity of 2-3 years, the rate has been increased to 2.49 per cent against 2.4 per cent, PNB said in a statement.      

For tenure of 3-4 years, the interest rate has been raised to 2.89 per cent from 2.7 per cent, and on 4-5 years term deposit, the new rate is 3.23 per cent.      

The fixed deposit for five years would now invite higher interest rate of 3.49 per cent against 3.23 per cent, it said.      

On NRE Term deposits, the applicable rate of interest form May 1 is 3.64 per cent for maturities of 1 year to less than 2 years while 3.24 per cent for maturities of 2 years to less than 3 years.      

The interest rate on 3-5 year foreign deposit is 3.64 per cent.