Date:31/03/2006 URL: http://www.thehindubusinessline.com/2006/03/31/stories/2006033104450600.htm

Back PNB hikes FCNR(B) deposit rates

Our Bureau

New Delhi , March 30

Punjab National Bank (PNB) has revised interest rates on its foreign currency non-residents (banks) scheme for the US dollar, pounds sterling, euro and Canadian dollar deposits with effect from March 29.

A statement issued by the bank said that the interest rate on US dollar deposits has been increased from 4.90 per cent to 5.15 per cent per annum for maturities of one year to less than 2 years (1st maturity) and from 4.88 per cent to 5.13 per cent for 2 years to less than 3 years (2nd maturity).

For maturities of 3 years to less than 4 years (3rd maturity), for 4 years to less than five years (4th maturity) and for five years only (5th maturity) it has been increased from 4.86 per cent to 5.11 per cent per annum.