PNB Reduces Rate of Interest on Fixed Deposit w.e.f. 08.01.2015

Sarkaritel
By Sarkaritel January 8, 2015 10:11

PNB Reduces Rate of Interest on Fixed Deposit w.e.f. 08.01.2015


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.

Sarkaritel
By Sarkaritel January 8, 2015 10:11