Punjab National Bank cuts fixed deposit rate by up to 0.50 per cent


State-owned Punjab National Bank on Wednesday reduced interest rate on fixed deposits on select maturities by up to 0.50 per cent.

“Interest rate on domestic term deposits has been reduced between 0.10 per cent and 0.50 per cent on select maturities with effect from August 10″, PNB said in a statement.

The bank had last cut rate on fixed deposit in June.

The reduction comes a day after RBI kept benchmark rate unchanged in the monetary policy review.

RBI kept repo rate (the short-term lending rate) unchanged at 7.25 per cent and other policy tools such as cash reserve ratio (CRR) and statutory liquidity ratio (SLR) unchanged at 4 per cent and 21.5 per cent, respectively.

Related Posts Plugin for WordPress, Blogger...
Nagaraju Tadakaluri
Nagaraju Tadakaluri is a Professional Web Designer, Freelance Writer, Search Engine Optimizer (SEO), Online Marketer, Multi Level Marketer (MLM) and Business Promoter. Have developed Latest Updates in hopes to educate, inform and inspire.

Now Open A Bank Account in Minutes Through Just a Mobile App

Previous article

Hyundai India revise features list for the Xcent and Eon

Next article

You may also like


Comments are closed.

More in Finance