PSB reduces interest rate on deposits over Rs 1 cr

The bank has,however,hiked the interest rate for 31-45 days maturities to 7.25 per cent,it said.

Written by: Agencies

1 min readNew DelhiApr 19, 2011 04:22 PM IST First published on: Apr 19, 2011 at 04:22 PM IST

State-run Punjab & Sind Bank has reduced the interest rate by up to 1.25 per cent on domestic term deposits of above Rs 1 crore.

“Keeping in view eased liquidity and sluggish credit oftake Punjab & Sind Bank has reduced the rate of interest on domestic term domestic of above Rs 1 crore to 5 crore ranging from 25 basis points to 125 basis points with effect from April 18,2011,” the bank said in a statement.

# deposit rates