INVC,,
Delhi,,
- In response to changing liquidity conditions in the system, inflation, other macroeconomic factors and monetary measures undertaken by the Reserve Bank of India, Punjab National Bank has been aligning its deposit rates from time to time.
- In view of high inflation, tight liquidity and in line with the concern shown by the Governor, RBI and the Stance of the Government, taking note of low deposit growth of the banks vis-à-vis growth in the credit, PNB has decided to raise interest rates on domestic term deposits by 25 to 50 bps in some selected maturity buckets. With this revision, the peak rate on single domestic retail term deposit will remain unchanged at 9.25% for maturity period of 1111days.
- As a part of our social responsibility, Senior citizens will continue to get an additional benefit of 50 bps over and above the rates given under.
- The revision in deposit rates w.e.f 01.03.2011 effected in selected buckets are given as under:
| Less than Rs.1 cr. | |
| Period | ROI % p.a. |
| 91 to 179 days | 7.00 |
| 180 to 270 days | 8.00 |
| 1 year | 9.00 |
| >1 yr to 554 days | 9.00 |
| 556 days to < 2 yrs | 9.00 |
| 2 year to 999 days | 9.00 |
| 1001 days to <3 Yrs | 9.00 |
