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PNB Revises Interest Rates On Domestic Term Deposits

New Delhi, November 18, 2004

Punjab National Bank (PNB) has increased interest rates on domestic Term Deposits w.e.f. November 22, 2004.

The interest rate has been increased by 25 basis points from 4.00% to 4.25% p.a for maturities of 30-45 days, from 4.25% to 4.50% p.a. for 46-90 days, from 4.50% to 4.75% p.a. for 91-179 days, from 4.75% to 5.00% for 180 days to less than one year, from 5.00% to 5.25% p.a. from one year to less than two years, from 5.25% to 5.50% p.a. for two years to less than three years and from 5.50% to 5.75% for three years to less than 5 years.

The interest rate has been increased by 50 basis points from 5.50% to 6.00% p.a. for maturities of 5 years and above. The rates for maturities of 7-14 days and 15-29 days shall remain the same at 3.00% and 4.00% p.a. respectively.

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