In view of the changed market scenario, Punjab National Bank (PNB) has reduced interest rate on Domestic Term deposits effective from 08.01.2015 by 25 to 50 basis points as under:
a) Domestic term deposits of less than Rs. 1 crore:
i) In the maturity bucket of 271days – <1 year, from 8.25% to 7.75%.
ii) In the maturity bucket of 1-3 years, from 9.00% to 8.75%.
iii) In the maturity bucket of >5 -10 years, from 8.75% to 8.50%.
b) Domestic term deposits of Rs. 1 crore to Rs 10 Crore:
i) In the maturity bucket of 91-179 days, from 8.00% to 7.50%.
ii) In the maturity bucket of 180-270 days, from 8.00% to 7.75%.
iii) In the maturity bucket of 271days – <1 year, from 8.50% to 8.25%.
iv) In the maturity bucket of >1-3 years, from 8.75% to 8.50%.
Besides above, in some other maturity buckets, the interest rates have been realigned with the market interest rates.
The above rates shall also be applicable to NRE term deposits.
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