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The interest rate on US dollar deposits has been reduced to 2.33 per cent for a maturity of 1-2 years from 2.50 per cent. For the maturity of 2-3 years, the rate has been brought down to 2.35 per cent against 2.56 per cent, PNB said in a statement.
For a tenure of 3-4 years, the interest rate is trimmed to 2.99 per cent from 3.17 per cent and on 4-5 years term deposit, the new rate is 3.45 per cent.
The fixed deposit for five years would now invite lower interest rate of 3.79 per cent against 4 per cent, it said.
On NRE term deposits, the applicable rate of interest form September 1 is 3.08 per cent for maturities of 1 year to less than 2 years while 3.10 per cent for maturities of 2 years to less than 3 years.
The interest rate on 3-5 year foreign deposit is 3.74 per cent.
(PTI) bl
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