The country’s second largest government bank PNB-Punjab National Bank (PNB-Punjab National Bank) has made a big announcement. The new changes are effective from 1st September.
If your bank account is in the country’s second largest government bank PNB, then this news is very important for you. Because the bank has changed the interest rates on the savings bank account. The new rates will be applicable from 1st September. Oriental Bank of Commerce and United Bank of India have been merged into Punjab National Bank. Only last year these two banks merged with Punjab National Bank. Now both these bank branches are working as branches of PNB.
According to information received from the official website of PNB, the interest rates on the bank’s savings account have been reduced by 0.10 percent. The new interest rate will be 2.90 percent per annum. Which is currently 3 percent per annum. According to PNB, the new interest rates will be applicable to the existing and new account holders of the bank.
Punjab National Bank is the second largest public sector bank in the country. The first is State Bank of India and the interest on SBI savings account is 2.70 percent annually. At the same time, the interest rate on Kotak Mahindra Bank and IndusInd Bank savings account is 4-6% per annum.
If we talk about private banks, then 3 to 6.75 percent in DCB Bank, 4.25 to 6.25 percent in RBL Bank, 3 percent to 6 percent in Bandhan Bank, 4 percent to 5.5 percent in IndusInd Bank and 4 percent to 5.25 percent in Yes Bank. Are getting.
Money is deducted from the savings account and invested on a fixed date of the month. Savings account holders can open a 3-in-1 investment, trading and demat account to invest in stocks. Investing in PPF, FD, Insurance and other investment products can also be done through Internet Banking.
Savings bank account can be used by an individual as his cash management system. With its help, payment of electricity-water bills, payment of tax, EMI of loan and insurance premium can be given easily. Many internet banking portals provide snapshots to the customers. In this, all the investments related to his account can be seen. Bank account can be linked with payment application like BHIM, Google Play, or Paytm to make payment.
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