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PNB revises FCNR, NRE deposit rates
Published on Sat, Dec 02, 2006 at 15:06, Updated on Thu, Jun 21, 2007 at 06:50 in Money » Tax section
Tags: Punjab National Bank, Interest Rates , New Delhi
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New Delhi: Punjab National Bank has revised the rates of interest on Foreign Currency Non-Resident (B) Deposit Scheme for the US dollar, British pound, Euro and the Canadian and Australian dollar with effect from December 1.
The interest rate on US dollar deposits has been revised to 5.24 per cent for a maturity of one year to less than two years and to 5 per cent for a maturity of two years to less than three years, PNB said in a release.
For maturity of three to less than four years the rate has been changed to 4.91 per cent and to 4.89 per cent for four to less than five years.
Rate of interest on US dollar deposits, for a maturity of five years, has been revised to 4.90 per cent, the bank said.
On NRE Term deposits the applicable rate of interest for December is 6.24 per cent for maturities of one year to less than two years and 6 per cent for two to less than three years maturity.
The rate stands at 5.91 per cent for maturities of three to five years, it added.
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