Public sector lender, Punjab National Bank has introduced two new fixed deposit schemes befitting the needs of the non resident customer base. The new products are FCNR Premium linked Deposit scheme and NRI Rupee Flexible Deposit scheme.
The premium linked deposit scheme will earn the customer better returns by allowing forward premium. The scheme is applicable for maturities of 1 year in currencies namely USD, Euro, GBP, CAD and AUD only.
NRE Rupee flexible deposit scheme will offer the customer with flexibility of partial withdrawal of principal amount in NRE FD without any extra penalty being imposed on the remaining deposit.