Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) have revised interest rates on foreign currency non-resident (banks) deposit scheme with effect from December 1 this year.

For both these banks, the interest rates on US dollar deposits for maturity of one year to less than two year stands reduced from 3.89 per cent to 3.71 per cent.

In the case of British pound deposits, for maturity of one year to less than two years, the interest rate has been reduced to 5.30 per cent from 5.4 per cent. For euro deposits with maturity of one year to less than two years, the interest rate has been increased from 3.86 per cent to 3.94 per cent. Interest rates have been reduced for other maturities as well in respect of US dollar, Canadian dollar, Australian dollar, euro and British pound deposits.

Meanwhile, OBC said that it has revised upwards the interest rates on exchange earners’ foreign currency (EEFC) deposits

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