PNB reduces non-resident deposit ratesPunjab National Bank (PNB) has cut down the interest rates on various non-resident deposits schemes on Sep 2.
02 Sep 2008
Punjab National Bank (PNB) has cut down the interest rates on various non-resident deposits schemes on Sep 2.
For FCNR (B) Scheme for dollar deposits with maturity ranging from one to two years, the interest rates has been slashed to 2.46 percent from 2.50 percent.
The interest rates for dollar deposits with maturities between
2-3 years, 3-4 years and 4-5 years have been brought down to 2.56 per cent,
2.88 per cent and 3.10 percent respectively.
For one to two years Euro deposits, interest rate has been slashed to 4.58 percent from 4.62 percent.
The interest rate for
NRE deposit schemes with maturity of one to two year has been reduced to 3.21
per cent whereas three to five year deposits will attract an interest rate of
3.63 per cent.