PNB slashes non-resident deposit rates

PNB slashes non-resident deposit rates

2 Sep, 2008, 2114 hrs IST, PTI

NEW DELHI : Public sector lender Punjab National Bank on Tuesday reduced the interest rates on various non-resident deposits schemes.

Interest rate on FCNR (B) Scheme for dollar deposits with maturity ranging from one to two years has been reduced to 2.46 per cent from 2.50 per cent.

The interest rates for dollar deposits with maturities between 2-3 years, 3-4 years and 4-5 years have been slashed to 2.56 per cent, 2.88 per cent and 3.10 per cent respectively.

Interest rate on one to two years Euro deposits has been reduced to 4.58 per cent from 4.62 per cent.

For NRE deposit schemes, the interest rate for one to two year deposits has been reduced to 3.21 per cent. The deposits with maturity of three to five years will attract an interest rate of 3.63 per cent.


Source: http://economictimes.indiatimes.com