PNB hikes interest rate on domestic deposits of 1-year maturity

Punjab National Bank has hiked the interest rate on single domestic term deposits of less than Rs 1 crore from 8.75 per cent to 9 per cent for a maturity of one year.

The revised rate would be effective from Thursday, the bank said in a filing with the stock exchange in Mumbai.

This rate of 9 per cent will also be applicable to NRE term deposits.

srivats.kr@thehindu.co.in