PNB INCREASES INTEREST
RATES ON NON- RESIDENT DEPOSITS
Punjab National Bank (PNB) has revised interest rates on its Foreign Currency Non-Residents (Banks) Scheme for USD, GBP, EURO, AUD and CAD deposits w.e.f. 1st March 2006.
In case of FCNR (B) deposits, the rate of interest on USD deposits has been increased from 4.69% to 4.90% for maturities of 1 year to less than 2 years (1st maturity), from 4.67% to 4.88% for 2 years to less than 3 years (2nd maturity) and from 4.66% to 4.86% for maturities of 3 years to less than 4 years (3rd maturity). For 4 years to less than 5 years (4th maturity) and for 5 years only (5th maturity) it has been increased from 4.68% to 4.86% and from 4.70% to 4.86% respectively.
The rate of interest on GBP Deposits has been revised from 4.43% to 4.42% for 1st maturity and from 4.45% to 4.46%, 4.46% to 4.48% and 4.45% to 4.47% for 2nd, 3rd and 4th maturities respectively. For 5 years only it has been increased from 4.43% to 4.45. For EURO deposits, the interest rates have been increased from 2.66% to 2.73%, from 2.90% to 2.99%, 3.01% to 3.08%, 3.08% to 3.16% for 1st, 2nd, 3rd and 4th maturities respectively. For 5 years only interest rates have been increased from 3.15% to 3.21%. For AUD deposits, the interest rates have been revised from 5.43% to 5.42% from 5.41% to 5.39%, 5.45% to 5.41%, 5.51% to 5.47% for 1st, 2nd, 3rd and 4th maturities respectively. For 5 years only interest rates have been increased from 5.53% to 5.48%.
For CAD deposits, the interest rates have been increased from 3.81% to 3.96%, from 3.88% to 4.01%, 3.96% to 4.06%, 4.02% to 4.11% for 1st, 2nd, 3rd and 4th maturities respectively. For 5 years only interest rates have been increased from 4.09% to 4.15%.
The
rate of interest on Global Rupee term deposits have also been increased
from 5.70% to 5.90% p.a. effective from March 1, 2006, for maturities of
1 year to 5 years. On NRE saving accounts, the interest rate offered by
the Bank is 3.50 %.