Money & Banking

PNB launches two deposit schemes for NRIs

PTI Kochi | Updated on January 08, 2011 Published on January 08, 2011

Mr C.M. Yadav, Chief Manager, International Banking Division, Punjab National Bank, New Delhi, addressing a seminar on NRI accounts in Tiruchi City.   -  Business Line

Punjab National Bank (PNB) has launched two new deposit schemes-FCNR premium linked deposit scheme and NRI rupee flexible deposit scheme for the benefit of NRI customers.

Under the premium linked deposit scheme, NRIs will get better returns by taking benefit of forward premium, said a bank press release. The scheme applies for term deposit accounts with a maturity period of One year and in currency viz US Dollar, Euro, GBP, CAD and AUD only.

NRE Rupee flexible deposit scheme provides flexibility to the NRI customers by facilitating the partial withdrawal of the principal amount in NRE FD without attracting the penalty on the remaining deposit.

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Published on January 08, 2011
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