PNB revises interest rates on domestic retail deposits

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PNB revises interest rates on domestic retail deposits
Country's leading public sector lender Punjab National Bank on Monday announced hike in the interest rate on single domestic term deposit of Rs. 1 crore and above up to Rs. 10 crore, from 7 per cent to 7.25 per cent for maturity period of 46 days to 90 days, with effective from August 26, 2013.

"The Bank has decided to increase the interest rate on single domestic term deposit of Rs. 1 crore and above up to Rs. 10 crore, from 7.00 per cent to 7.25 per cent for maturity period of 46 days to 90 days w.e.f. August 26, 2013," PNB said in a filing to Bombay Stock Exchange.

Further, for senior citizens the additional rate of interest has been increased to 50 bps as against existing rate of 25 bps, it added.

Dion Global Solutions Ltd.

Read more about: punjab national bank
Story first published: Monday, August 26, 2013, 9:10 [IST]
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