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Punjab National Bank revised the interest rates of NRI deposit

 

New Delhi, April 03, 2007
Ashok Malhotra


On Tuesday, Punjab National Bank revised the interest rates on NRI's foreign currency deposits as (FCNR)(B) schemes for dollar, pound, euro, Australian and Canadian dollars.

US dollar deposits, the interest rate:

  • For the term maturity of less than two years -cut by two basis points to 4.97 per cent
  • For a period of less than three years- cut by three basis points to 4.77 per cent
  • For maturity of four years to less than five years untouched at 4.72 per cent.
  • For maturity period of three to less than four years would invite interest rate of 4.71 per cent from 4.73 per cent
  • Raised for five year deposit by two basis points to 5.76 per cent from 5.74 per cent.

Euro deposits, the interest rate

  • Less than two years- raised to 3.93 per cent from 3.81 per cent.
  • For maturity of less than five years- raised by 14 basis points to 3.99 per cent .

NRE (non-resident external)
  • For maturities of one to less than two years- cut by two basis points to 5.72 per cent from 5.74 per cent.
  • For two years to less than three years - cut by three basis points to 5.52
  • For maturity of three years to five years- cut by two basis points to 5.46

 

 

 

 

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