PNB revises interest rates on non-resident deposits

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PNB revises interest rates on non-resident deposits

PNB revises interest rates on non-resident deposits

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Punjab National Bank has revised the rates of interest on FCNR (B) Deposits Scheme for USD, GBP, EURO, AUD and CAD deposits w.e.f. 1st May , 2007. The rate of interest on USD deposits has been revised to 4.55% for maturity of 1 year to less than 2 years (1^st maturity), 4.31% for 2 years to less than 3 years  (2^nd maturity), 4.26% for 3 years to less 4 years (3^rd maturity), 4.26% for 4 years to less than 5 years (4^th maturity) and 4.29 % for 5 years only (5^th maturity). The rate of interest on GBP deposits has been revised to 5.23% for 1^st maturity, 5.12%for 2^nd maturity, 5.08% for 3^rd maturity, 5.03% for 4^th and 4.98% for 5^th maturity. The rate of interest on EURO deposits has been revised to 3.55% for 1^st maturity, 3.64% for 2^nd maturity, 3.64% for 3^rd maturity, 3.64% for 4^th maturity and 3.64% for the 5th maturity. The rate of interest on CAD (Canadian Dollars) deposits has been revised to 3.68% for 1^st maturity, 3.69% for 2^nd maturity, 3.71% for 3^rd maturity, 3.72% for 4^th maturity and 3.74%for 5th maturity. The rate of interest on AUD (Australian Dollars) deposits has been revised to 5.82% for 1^st maturity, 5.75% for 2^nd maturity, 5.76% for 3^rd maturity, and 5.79% for 4^th   maturity   & 5.77% for 5th maturity.    

The applicable rate of interest on NRE Term deposits for May , 2007 is 5.30% for maturities of 1 year to less than 2 years, 5.06% for maturities of 2 year to less than 3 years and 5.01% for maturities of 3 years to 5 years.

Sourced from: Punjab National Bank