NEWS & ADVICE : FIXED DEPOSITS
PNB revises NRI rates
By Neelima Shankar
Mar 4, 2009
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State-run, Punjab National Bank (PNB) has raised its interest rates on Foreign Currency Non-Resident deposit for various denominations with effect from March 1st.

The revised interest rates under various currencies stand as follows:

Tenure

    USD

    GBP

    EUR

     AUD

     CAD

1 year to less than 2 years

3.12%

3.38%

3.04%

5.01%

3.25%

2 years to less than 3 years

2.69%

3.30%

3.08%

4.21%

2.15%

3 years to less than 4 years

3.07%

3.59%

3.38%

4.63%

2.55%

4 years to less than 5 years

3.40%

3.88%

3.61%

5.01%

2.81%

5 years

3.66%

4.10%

3.80%

5.19%

3.00%

These interest rates are applicable only on fresh deposits and on renewal of deposits maturing on or after March 1st, 2009.

The interest rate on NRE deposits have been 3.87% for maturity period of one year to less than 2 years. Interest rate on tenure ranging between 2 years to less than 3 years and 3 years to 5 years are revised up to 3.44% and 3.82% respectively.

 


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