SBI vs PNB FD Rate: After the increase in FD interest rates last week, Punjab National Bank (PNB) once again increased the interest on FD.
SBI vs PNB FD Rate: After the increase in FD interest rates last week, Punjab National Bank (PNB) once again increased the interest on FD. Recently, the country’s largest public sector bank SBI increased the interest rates on FD. After increasing the repo rate of RBI, banks have increased the interest on both loans and deposits in the country. Here you are telling the difference of interest on FDs of two public sector banks of the country, how much interest they are paying on FDs of different maturities.
Now these rates are on FD of PNB
The bank was paying an interest of 5.70 percent earlier on deposits ranging from one year to 599 days, which has been increased to 6.30 percent. PNB is offering 7 per cent interest on deposits maturing in 600 days. Offering additional interest of 50 bps on FDs up to 5 years to senior citizens of 60 years and up to 80 years. Here are the revised interest rates on Punjab National Bank deposits below Rs 2 crore, applicable from October 26.
- 7 days to 14 days: for general public – 3.50 percent; For Senior Citizen – 4.00 percent
- 15 days to 29 days: for general public – 3.50 percent; For Senior Citizen – 4.00 percent
- 30 days to 45 days: for general public – 3.50 percent; For Senior Citizen – 4.00 percent
- 46 days to 90 days: for general public – 4.50 percent; For Senior Citizen – 5.00 percent
- 91 days to 179 days: for general public – 4.50 percent; For Senior Citizen – 5.00 percent
- 180 days to 270 days: for general public – 5.50 percent; For Senior Citizen – 6.00 percent
- 271 days to less than 1 year: for general public – 5.50 percent; For Senior Citizen – 6.00 percent
- 1 year: for general public – 6.30 percent; For Senior Citizen – 6.80 percent
- more than 1 year up to 599 days: for general public – 6.30 percent; For Senior Citizen – 6.80 percent
- 600 days: for general public – 7.00 percent; For Senior Citizen – 7.50 percent
- 601 days to 2 years: for general public – 6.30 percent; For Senior Citizen – 6.80 percent
- Above 2 years but less than 3 years: For general public – 6.25 percent; For Senior Citizen – 6.75 percent
- Above 3 years but less than 5 years: For general public – 6.10 percent; For Senior Citizen – 6.60 percent
- From 5 years to 10 years: for general public – 6.10 percent; For Senior Citizen – 6.60 percent.
FD rates of SBI
On deposits maturing in 7 days to 45 days, the bank has increased the interest rate from 2.90% to 3.00% i.e. 10 bps by 0.10 percent. Also, the interest rate on FDs maturing in 46 days to 179 days has been increased from 3.90 to 10 bps. That is, now an interest of 4 percent will be available on it. FDs maturing in 180 days to 210 days will get interest at the rate of 4.65%. Earlier the interest on this was 4.55%. Now deposits maturing in less than 1 year in 211 days will now get 4.70% interest, which was 4.60% earlier.
Interest on these FDs also increased
SBI has increased the interest rate on deposits maturing in 1 year by 15 bps or 0.15 percent. The bank has increased the interest rate on deposits maturing in 2 years by 15 bps from 5.50% to 5.65%. The bank has reduced the rate on deposits maturing in 3 years from 5.60% to 5.80%. In this, 0.20 percent interest has been increased directly. Deposits maturing in 5 years have been reduced from 5.65% to 5.85%. In this also 0.20 percent interest has been increased.
