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PNB revises Non-resident Deposits rates upward

Punjab National Bank has revised the rate of interest on FCNR (B) Deposit Scheme for USD, GBP, EURO, AUD, and CAD deposits with effect from September 1, 2007.

Apnaloan.com Research Bureau

10 Sep 2007

Punjab National Bank has revised the rate of interest on FCNR (B) Deposit Scheme for USD, GBP, EURO, AUD, and CAD deposits with effect from September 1, 2007. the rate of interest on USD has been revised to 4.53 per cent for maturity of 1 year to less than 2 years (1st maturity), 4.15 per cent for 2 years to less than 3 years (2nd maturity), 4.16 per cent for 3 years to less than 4 years (3rd maturity), 4.20 per cent for 4 years to less than 5 years (4th maturity) and 4.26 per cent for 5 years only. (5th maturity).

The rate of interest on GBP deposits has been revised to 5.82 per cent for 1st maturity, 5.46 per cent for 2nd maturity, 5.36 per cent for 3rd maturity, 5.29 per cent for 4th maturity and 5.23 per cent for 5th maturity.

The rate of interest on EURO deposit has been revised to 4.03 per cent for 1st maturity, 3.78 per cent for 2nd maturity, 3.81 per cent for 3rd maturity, 3.80 per cent for 4th maturity and 3.81 per cent for 5th maturity.

The rate of interest on CAD deposits has been revised to 4.24 per cent for 1st maturity, 4.06 per cent for 2nd maturity, 4.10 per cent for 3rd maturity, 4.11 per cent for 4th maturity and 4.12 per cent on 5th maturity.

The rate of interest on AUD has been revised to 6.36 per cent for 1st maturity, 6.08 per cent for 2nd maturity, 6.07 per cent for 3rd maturity, 6.11 per cent for 4th maturity and 6.08 per ce3nt for 5th maturity. The applicable rate of interest on NRE Term Deposit for Sept 2007 is 5.28 per cent for maturities of 1 year to less than 2 years, 4.90 per cent for maturities of 2 years to less than 3 years and 4.19 per cent for maturities of 3 years to 5 years.