PNB REVISES INTEREST RATES ON NON –RESIDENT DEPOSITS

INVC,,

Delhi,,

Punjab National Bank has revised the rates of interest on FCNR (B) Deposits Scheme for USD, GBP, EURO, CAD and AUD deposits w.e.f. 1^st Nov, 2010. The rate of interest on USD deposits has been revised to  1.76  % for maturity of 1 year to less than 2 years (1^st maturity), 1.53  % for 2 years to less than 3 years (2^nd maturity),  1.78  % for 3 years to less 4 years        (3^rd maturity),  2.12  % for 4 years to less than 5 years (4^th maturity) and 2.47  % for 5 years only (5^th maturity). The rate of interest on GBP deposits has been revised to  2.48   % for                1^st maturity,   2.32 % for 2^nd maturity, 2.58  % for 3^rd maturity, 2.88 % for 4^th maturity and   3.16 % for 5^th maturity. The rate of interest on EURO deposits has been revised to 2.51   % for 1^st maturity,  2.60  % for 2^nd maturity,   2.81 % for 3^rd maturity, 3.00   % for 4^th maturity and      3.20 % for the 5th maturity. The rate of interest on CAD (Canadian Dollars) deposits has been revised to  2.85   % for 1^st maturity, 2.54 % for 2^nd maturity, 2.70 % for 3^rd maturity,  2.89  % for 4^th maturity and 3.09    % for 5th maturity. The rate of interest on AUD (Australian Dollars) deposits has been revised to  6.59 % for 1^st maturity, 6.19   % for 2^nd maturity, 6.27 % for       3^rd maturity,  6.47 % for 4^th maturity and 6.57  % for 5th maturity.

2.  The revised interest rates are as under:

(% per annum)

* Existing                  ** Revised

The applicable rate of interest on NRE Term deposits for the period 1.11.2010 to 30.11.2010 is 2.51   % for maturities of 1 year to less than 2 years, 2.28   % for maturities of 2 year to less than    3 years and  2.53 % for maturities of 3 years to 5 years.

3.      The details of existing and revised interest rates under Global Rupee Deposit Scheme are as under: –

(Percent per annum)