Punjab National Bank (PNB) has increased interest rates on FD deposits of less than 2 crores for the second time in a week, the new rates have come into effect from today i.e. Wednesday, October 26.
Punjab National Bank (PNB) has increased the interest rate on Fixed Deposit (FD) for the second time in a row in the last one week. The bank has increased these interest rates on FD deposits of less than 2 crores. The bank said that the new rates have come into effect from today i.e. Wednesday 26 October. Punjab National Bank will now pay 4.5 per cent interest on FDs with a tenure of 46 to 90 days, which is 0.75 per cent more than before. At the same time, the bank will now pay 5.50 percent interest on FDs with a period of 180 days to one year, which was 5 percent till now.
The bank said that the interest rate on FD deposits with a period of one year to 599 days has now been increased to 6.30 percent, which was 5.70 percent till now. Whereas FD deposits with more than 600 days bank will now give 7% return to investors.
The bank said in a statement, “Senior citizens between the age of 60 years to 80 years will get 0.50 per cent more interest than the applicable rates on FDs with a tenure of up to 5 years. Whereas, on FD deposits of more than 5 years, they will get 0.80 per cent interest.” Additional rate of interest will be given. On the other hand, bank members and retired senior citizen employees will get an additional interest of 1.50 per cent on deposits up to 5 years and 1.80 per cent on FDs of more than 5 years.
The bank also said that super senior citizens above the age of 80 years will get an interest rate of 0.80 per cent more than the existing rates on all FDs. On the other hand, retired employees, who have now become super senior citizens, will get 1.80 percent higher interest rate. The new interest rates on Punjab National Bank’s FD deposits below Rs 2 crore are given below-
- 7 days to 14 days – For general public – 3.50 per cent; For senior citizens – 4.00 percent
- 15 days to 29 days – For general public – 3.50 per cent; For senior citizens – 4.00 percent
- 30 days to 45 days – For general public – 3.50 per cent; For senior citizens – 4.00 percent
- 46 days to 90 days – For general public – 4.50 per cent; For senior citizens – 5.00 percent
- 91 days to 179 days – For general public – 4.50 per cent; For senior citizens – 5.00 percent
- 180 days to 270 days – For general public – 5.50 per cent; For senior citizens – 6.00 percent
- 271 days to less than 1 year: – For general public – 5.50 per cent; For senior citizens – 6.00 percent
- 1 year – For general public – 6.30 per cent; For senior citizens – 6.80 percent
- more than 1 year up to 599 days – For general public – 6.30 per cent; For senior citizens – 6.80 percent
- 600 days – For general public – 7.00 per cent; For senior citizens – 7.50 percent
- 601 days to 2 years – For general public – 6.30 per cent; For senior citizens – 6.80 percent
- 2 years to more than 3 years – For general public – 6.25 per cent; For senior citizens – 6.75 percent
