The Hindu Business Line : PNB revises FCNR (B) deposit rates

PUNJAB National Bank (PNB) has revised interest rates on foreign currency non-resident (Banks) scheme for US dollar, Great Britain pound and euro deposits with effect from February 9.

The new rate on dollar deposits has been revised from 1.22 per cent to 1.12 per cent for one year to less than two years, from 1.69 per cent to 1.89 per cent for two years to less than three years, and from 2.27 per cent to 2.49 per cent for maturities of three years only.

The rate of interest on pound deposits has been revised from 4.19 per cent to 4.28 per cent for one year to less than two years, from 4.29 per cent to 4.44 per cent for two years to less than three years, and from 4.44 per cent to 4.58 per cent for maturities of three years only.

For euro deposits, the interest rate has been revised from 1.99 per cent to 1.93 per cent for maturity of one year to less than two years, and from 2.67 per cent to 2.66 per cent for maturities of three years only. Interest rate for two years to less than three years remains the same at 2.3 per cent.

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