New Delhi. PNB Savings Account. Punjab National Bank has made preparations to give a big blow to its account holders. The bank has made preparations to reduce the savings of its customers.
The bank has decided to change the interest rates of the savings account. Punjab National Bank has decided to reduce savings account interest rates from September 1. According to the information released on the official website of PNB, there is a savings account from September 1, their interest rates will be cut.
Shock to PNB customers
Punjab National Bank has made preparations to shock its customers. Savings account interest rates are going to change from 1st September. The bank has decided to reduce the interest rates. The bank has decided to reduce the interest rates on savings accounts from 3 per cent per annum to 2.90 per cent. This decision of the bank will have an impact on both new and old customers.
After SBI, PNB took the decision
Let us tell you that recently the country’s largest state-owned bank State Bank of India (SBI) had decided to reduce the interest rates of savings account. Now the second largest public sector bank of the bank has cut interest rates. While SBI reduced the interest rate to 2.70 percent annually, now PNB Bank has decided to reduce it to 2.90 percent with effect from September 1, 2021. Whereas Kotak Mahindra and IndusInd Bank give interest ranging from 4 to 6 per cent per annum on savings accounts.
Merger of these banks in PNB
Let us tell you that the central government decided to merge many banks to reduce NPAs and losses. Under this, Oriental Bank of Commerce and United Bank of India were merged with Punjab National Bank last year. After the merger of the bank, customers were asked to get a new check book and passbook.
