PNB raises 3- to 5-yr FCNR(B) deposit rates by 40 bps to 6.40-6.50% from Thu
This story was originally published at 13:36 IST on 19 June 2026
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--PNB raises 3-5 year FCNR(B) deposit rates by 40 bps, effective Thu
--PNB raises 3-5 year FCNR(B) deposit rates to 6.40-6.50%
MUMBAI – Punjab National Bank has raised its interest rates on foreign currency non-resident dollar-denominated bank deposits for three- to five-year tenors by 40 basis points, effective Thursday. The state-owned lender had last revised the rates on Jun. 11 after the Reserve Bank of India announced a concessional dollar-rupee swap facility for fresh FCNR(B) deposits.
The latest rates, effective Thursday, were revised after the RBI temporarily withdrew the interest rate ceiling on fresh FCNR(B) deposits for three to five years until Sept. 30. Punjab National Bank's revised interest rates on FCNR(B) deposits for three to five years range from 6.40% to 6.50%.
For the March quarter, the bank reported net profit of INR 52.25 billion on total income of INR 363.19 billion. At 1316 IST, shares of the lender were at INR 108.38 on the National Stock Exchange, down 1.1% from Thursday.
Punjab National Bank's FCNR(B) deposit rates for various tenures are as follows:
| Tenure | Revised rate (%) | Previous Rate (%) |
| One- up to two year | 4.99 | 4.99 |
| Two- up to three year | 3.47 | 3.47 |
| Three- up to four year | 6.40 | 6.00 |
| Four- up to five year | 6.45 | 6.05 |
| Five year | 6.50 | 6.10 |
End
US$1 = INR 94.46
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Nandini Sinha
Edited by Akul Nishant Akhoury
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