As you have asked about the payment of interest on Foreign Currency Non-Resident (FCNR) (Banks) Accounts in Punjab national bank, I am giving you information about it, check below for the details

Payment of Interest

Interest on FCNR (B) deposits is being paid on the basis of 360 days to a year.
However, depositor is eligible to earn interest applicable for a period of one year if the deposit has completed a period of 365 days.

For deposits upto one year, interest at the applicable rate will be paid without any compounding effect.
In respect of deposits for more than one year, interest can be paid at intervals of 180 days each and thereafter for remaining actual number of days.
However, depositor will have the option to receive the interest on maturity with compounding effect in case of deposits of over one year.

Non-Resident Indians can open accounts under this scheme.
The account should be opened by the non-resident account holder himself and not by the holder of power of attorney in India.

These deposits can be maintained in 5 designated currencies i.e.
U.S. Dollar (USD),
Pound Sterling (GBP) and
Euro,
Australian Dollar (AUD) &
Canadian Dollar (CAD)

These accounts can only be maintained in the form of terms deposits for maturities of minimum 1 year to maximum 5 years.