PNB Housing Finance says that now the company will pay a maximum interest of 7.25 percent on fixed deposits of less than 5 crores.
New Delhi. After the increase in the policy rate by the Reserve Bank of India (RBI), the process of increasing interest rates continues. With the increase in loan rates, banks are increasing the interest rates on Fixed Deposits. Many banks in the country have announced an increase in the rate of their FDs. There are also finance companies in this episode. Now PNB Housing Finance has changed the interest rates given on FD.
New rates effective from August 10, 2022
PNB Housing Finance says that now the company will pay a maximum interest of 7.25 percent on fixed deposits of less than 5 crores. The new rates of the company have come into effect from August 10, 2022.
FD rates of PNB Housing Finance
After the change, the company will pay an interest of 6.50 percent on the cumulative FD made on maturity of 12 to 23 months. The company offers 6.55 per cent on FDs of 24 to 35 months, 7.25 per cent on FDs of 36 to 47 months, 7.15 per cent on FDs of 48 to 59 months, 7.30 per cent on FDs made for 7 to 71 days and 72 to 84 per cent. Interest of 7.25 percent will be given on FD of months. The company will now pay an interest of 7.25 percent on FDs made for 120 months. The company will now pay a monthly interest of 6.1 percent to 7.02 percent on non-community FDs of 12 to 120 months.
RBI hikes repo rate by 0.5 per cent to 5.4 per cent
It is worth noting that recently the Reserve Bank of India (RBI) increased the repo rate by 0.5 percent to 5.4 percent. The repo rate has reached a 3-year high.
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