Centurion Bank of Punjab reduces Interest Rates on deposits for select maturities
Mumbai, November 1, 2007: Centurion Bank of Punjab, at its ALCO meeting held yesterday decided to revise their deposit rates in two maturities with effect from November 5 2007. The interest rate on deposits for a term of 1 year & above to 2 years has been reduced from 8.50% to 8.00% & for a term of 13 months 15 days the rate has been reduced from 9.25% to 9.00%. The rate revision is in line with the prevailing decreasing interest rate trends in the market.
Centurion Bank of Punjab continues to offer the most attractive deposit rates amongst all banks. This current reduction is mainly a reflection of similar rate revision throughout the industry.
The Bank is offering 8.00% for resident Indians for a period of 5 years and above with an effective yield at 9.72% and 8.50% p.a. to senior citizens for the same period, the effective yield working out to 10.46%.
About Centurion Bank of Punjab:
Centurion Bank of Punjab is one of the leading new generation private sector banks in India. The bank serves individual consumers, small and medium businesses and large corporations with a full range of financial products and services for investing, lending and advice on financial planning. The bank offers its customers an array of wealth management products such as mutual funds and life and general insurance and has established a leadership 'position'. The bank is also a strong player in foreign exchange services, personal loans, mortgages and agricultural loans. Additionally the bank offers a full suite of NRI banking products to overseas Indians.
On 29th August 2007, Centurion Bank of Punjab merged with Lord Krishna Bank (LKB), post obtaining all requisite statutory and regulatory approvals. This merger has further strengthened the geographical reach of the Bank in major towns and cities across the country, especially in the State of Kerala, in addition to its existing dominance in the northern part of the country. Centurion Bank of Punjab is planning to build upon the strong brand attributes of both banks in their respective geographies.
Centurion Bank of Punjab now operates on a strong nationwide franchise of 394 branches and 452 ATMs in 180 locations across the country, supported by employee base of over 7,500 employees. In addition to being listed on the major Indian stock exchanges, the Bank’s shares are also listed on the Luxembourg Stock Exchange.
For more information log on to http://www.centurionbop.co.in/
For further information, please contact:
Pushkar Gupta
Centurion Bank of Punjab
Tel.: (022) 67540888
Radha Sajnani / Kirby Furtado / Supriya Sonde
Vaishnavi Corporate Communications
Tel.: (022) 6656 8787
Mobile: (0) 98214 35679 / 98216 74905 / 98670 35854
Email: rsajnani@vccpl.com / kirbyw@vccpl.com / ssonde@vccpl.com
Mumbai, November 1, 2007: Centurion Bank of Punjab, at its ALCO meeting held yesterday decided to revise their deposit rates in two maturities with effect from November 5 2007. The interest rate on deposits for a term of 1 year & above to 2 years has been reduced from 8.50% to 8.00% & for a term of 13 months 15 days the rate has been reduced from 9.25% to 9.00%. The rate revision is in line with the prevailing decreasing interest rate trends in the market.
Centurion Bank of Punjab continues to offer the most attractive deposit rates amongst all banks. This current reduction is mainly a reflection of similar rate revision throughout the industry.
The Bank is offering 8.00% for resident Indians for a period of 5 years and above with an effective yield at 9.72% and 8.50% p.a. to senior citizens for the same period, the effective yield working out to 10.46%.
About Centurion Bank of Punjab:
Centurion Bank of Punjab is one of the leading new generation private sector banks in India. The bank serves individual consumers, small and medium businesses and large corporations with a full range of financial products and services for investing, lending and advice on financial planning. The bank offers its customers an array of wealth management products such as mutual funds and life and general insurance and has established a leadership 'position'. The bank is also a strong player in foreign exchange services, personal loans, mortgages and agricultural loans. Additionally the bank offers a full suite of NRI banking products to overseas Indians.
On 29th August 2007, Centurion Bank of Punjab merged with Lord Krishna Bank (LKB), post obtaining all requisite statutory and regulatory approvals. This merger has further strengthened the geographical reach of the Bank in major towns and cities across the country, especially in the State of Kerala, in addition to its existing dominance in the northern part of the country. Centurion Bank of Punjab is planning to build upon the strong brand attributes of both banks in their respective geographies.
Centurion Bank of Punjab now operates on a strong nationwide franchise of 394 branches and 452 ATMs in 180 locations across the country, supported by employee base of over 7,500 employees. In addition to being listed on the major Indian stock exchanges, the Bank’s shares are also listed on the Luxembourg Stock Exchange.
For more information log on to http://www.centurionbop.co.in/
For further information, please contact:
Pushkar Gupta
Centurion Bank of Punjab
Tel.: (022) 67540888
Radha Sajnani / Kirby Furtado / Supriya Sonde
Vaishnavi Corporate Communications
Tel.: (022) 6656 8787
Mobile: (0) 98214 35679 / 98216 74905 / 98670 35854
Email: rsajnani@vccpl.com / kirbyw@vccpl.com / ssonde@vccpl.com
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