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  #1  
16th February 2016, 11:40 AM
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NRE Account PNB

Can you tell me in detail about the Interest Rates for Non Resident (External) Accounts Deposit Scheme (NRE) offered by PNB or Punjab National Bank?
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  #2  
16th February 2016, 11:42 AM
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Join Date: May 2012
Re: NRE Account PNB

Non-Resident Indians can open accounts under Non Resident (External) Accounts Deposit Scheme (NRE). The account must be opened by the non-resident account holder only and not by the holder of power of attorney in India.

NRE accounts can be opened by payment from abroad in any exchangeable currency or from transfer of funds from existing NRE/FCNR accounts held by a person with any Bank in India. These accounts can be opened at all branches of Punjab National Bank.

These accounts can be maintained under Savings/Current/Recurring and Term Deposit Schemes.

The interest rates on NRE Deposits in PNB or Punjab National Bank are applicable only on fresh deposits and on renewal of deposits maturing on or after 1st January, 2016. The interest rates are valid for the period 1st January, 2016 to 31st January, 2016.

The interest rates are applicable to RFC Deposits for the maturity period of 1 to 5 years:

Interest rates on NRE Deposits

Duration USD GBP EUR AUD CAD JPY


1 year to less than 2 years 1.88 1.73 0.95 3.25 1.93 1.13
-1.8 -1.66 -0.91 -3.19 -1.89 -1.13

2 years to less than 3 years 2.16 2.1 0.99 3.22 1.84 1.13
-2 -1.95 -0.89 -3.19 -1.9 -1.12

3 years to less than 4 years 2.43 2.31 1.09 3.27 1.96 1.12
-2.26 -2.12 -0.95 -3.25 -1.99 -1.12

4 years to less than 5 years 2.62 2.47 1.19 3.5 2.07 1.14
-2.45 -2.27 -1.05 -3.47 -2.1 -1.14

5 years only 2.75 2.59 1.33 3.62 2.2 1.18
-2.59 -2.4 -1.18 -3.58 -2.23 -1.18

Interest rates on NRE Deposits




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