PNB Cuts Interest Rates On Domestic Deposits

Posted By:
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Government owned Punjab National Bank (PNB) cut interest rates on domestic term deposits of less than Rs 1 crores in maturity period of 5-10 years to 8.25 pct from 8.50 pct.

     PNB Cuts Interest Rates On Domestic Deposits
    This follows a slew of other banks which have cut their deposit rates in recent times. The Reserve Bank of India it maybe recalled held interest rates earlier this month and coerced banks to cut their interest rates, following 2 successive repo rate cuts by the Reserve Bank of India (RBI). Banks however have been reluctant to cut interest rates on loans and deposits.

    The stock of PNB was trading with gains of 1 per cent on the NSE.

    GoodReturns.in

    Read more about: pnb interest rates
    Story first published: Friday, April 17, 2015, 12:58 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more