Punjab National Bank today increased interest rate

New Delhi, June 3, 2007
Col Sant Singh

Punjab National Bank today increased interest rate on Foreign Currency Non-Resident (B) Deposit Scheme for the US dollar, British pound, euro and Canadian and Australian dollar with effect from 1 June. PNB follows same rate as of State Bank of India.

State Bank of India hikes NRI term deposit interest rates

New Delhi, June 1, 2007
Col Sant Singh

On Friday, SBI, State Bank of India revised the interest rates on Non Resident Indian (NRI) deposits

On Foreign Currency Non Resident (FCNR) accounts in dollars with maturity of:

• One year to less than two years------------------ 4.64 per cent
• Two years to less than three years--------------- 4.57 per cent
• Three years to less than four years--------------- 4.55 per cent
• Four years to less than five years-----------------4.55 per cent
• Five years--------------------------------------- 4.57 per cent

On non resident external (NRE) rupee term deposit:

• One year to less than two years------------------ 5.39 per cent from 5.30 per cent
• Two years to less than three years--------------- 5.32 per cent from 5.06 per cent
• Three years to less than five years--------------- 5.30 per cent from 5.01 per cent

Euro, Great Britain Pound, Canadian Dollars, Australian Dollar and Japanese Yen also made Similar upward revisions

PNB raises interest on N-R deposits

NEW DELHI, June 2:
The interest rate on US dollar deposits have been hiked to 4.64 per cent for a maturity of one year to less than two years and to 4.57 per cent for a maturity of two years to less than three years, PNB said in a release.
For tenor of three to less than five years, the interest rate has been increased to 4.55 per cent as compared to 4.26 per cent and to 4.57 per cent for five years maturity.
On NRE term deposits, the applicable rate of interest for June is 5.39 per cent for maturities of one year to less than two years and 5.30 per cent for maturity in between 2-3 years, the release said. SNS & PTI