PNB Raises FCNR(B) USD Deposit Rates Up to 6.10% for NRIs
· Free Press Journal
Punjab National Bank (PNB) has announced enhanced interest rates of up to 6.10% per annum on its FCNR(B) USD deposits, offering Non-Resident Indians (NRIs) an opportunity to grow their overseas earnings while hedging against currency fluctuations.
Under the revised scheme, USD deposits will earn interest as follows: 6.00% p.a. for tenures of three to less than four years, 6.05% p.a. for four to less than five years, and 6.10% p.a. for five-year deposits. Deposits of USD 1 million or more may be eligible for preferential rates on a negotiated basis.
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The FCNR(B) deposit scheme allows NRIs to maintain funds in designated foreign currencies, protecting them from exchange rate volatility while earning attractive, tax-free returns in India, subject to applicable regulations. The scheme is available in all major foreign currencies and provides liquidity and flexibility.
The offer is valid until 30 September 2026. Interested customers can contact PNB’s NRI Cell in Delhi, email [email protected], or visit pnb.bank.in for details.