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PNB revises interest rates on NRE deposits

New Delhi, 21 November, 2005

Punjab National Bank (PNB) has increased interest rates on its NRE Term Deposits w.e.f. 18th November 2005. Bank has also revised interest rates on NRE Savings effective from November 18, 2005.

In case of NRE term deposits, the rate of interest has been increased from 5.20% to 5.50% per annum for maturities of 1 year to less than 2 years and from 5.30% to 5.60% per annum for maturities 2 years to less than 3 years. For maturities of 3 years to 5 years the rate of interest has been revised from 5.40% to 5.60% per annum. 

On NRE saving deposits, the rate offered by the Bank is 3.50 % per annum.

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