PNB hikes rates for pound, euro deposits

Punjab National Bank (PNB) has raised interest rates on pound and euro deposits while reducing rates for US dollar deposits effective April 1.

The rates for deposits in pound and euro were raised by up to 28 and 34 basis points, respectively. The rates on term deposits in US dollar were reduced by up to 22 basis points.

The bank also reduced interest rates on non-resident external deposits (money repatriated in foreign currency by NRIs) by 12-22 basis points.