Punjab National Bank increases the interest rates on NRI deposits
By Neelima Shankar
Aug 21, 2013
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Punjab National Bank has recently increased the interest rates on NRI deposits by one percent according to the reliable sources. The increase in interest rates is applicable to NRI deposits for more than 3 years. The amplified interest rates would be valid on fixed deposits overseas currency Non-resident Bank by NRI in the pounds, US dollar, euro, Canadian dollar, Japanese yen and Australian dollars. According to the PNB sources the new rates would come into effect from the close of the commerce on 14th August 14. The interest rates on fixed deposits of US dollar between 3 years and 4 years would be 4.78 percent when compared to 3.78 per cent. In the same way, the fixed deposits between 4 years and 5 years would fetch an interest of 5.17 percent in opposition to 4.17 percent, the bank sources said.

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