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Punjab National Bank has decided to realign the interest rates with the prevailing market rates.
The rate of interest on single domestic term deposit of less than Rs 1 crore has been revised from 7.5 per cent to 8.75 per cent for maturity period of 180 days to less than one year with effect from March 1, 2013.
Further for the senior citizens the additional rate of interest has been reduced to 25 bps against the existing rate of 50 bps.
The bank has also revised the interest rates on FCNR(B) Deposits with effect from today.
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