New Delhi: Punjab National Bank (PNB) has made changes in the interest rate on fixed deposits (FD). Recently, banks like Kotak Mahindra Bank, Equitas, Shivalik Small Finance Bank, Yes Bank, and Canara Bank changed their interest rates on their FD plans. PNB has reduced FD interest rates on select periods for deposits less than Rs 3 crore.
The interest rates of Punjab National Bank for fixed deposits for a period of 7 days to 10 years for general citizens range between 3.50 per cent to 7.10 per cent. The public sector bank is giving the highest interest rate of 7.10 per cent on FD schemes with a period of 390 days. Earlier, the lender was offering the highest interest rate of 7.25 per cent on FD tenure of 400 days.
PNB has made changes on its returns on fixed deposit schemes for several tenures. The interest rate for a period of 300 days has been reduced from 7.05 per cent to 6.50 per cent. The FD plan with tenure of 303 days, will fetch an interest rate of 6.40 per cent. Earlier, it was 7 per cent
PNB has reduced the interest rate for fixed deposits with a tenure of more than 2 years and up to 3 years from 7 percent to 6.75 percent. The interest rate for a FD tenure of 1204 days has been reduced from 6.40 percent to 6.25 percent. The Punjab National Bank has slashed interest rate on fixed deposits with a tenure of more than 5 years and up to 1894 days from 6.50 percent to 6 percent.
The public sector lender has increased the interest rate for a FD tenure of 1895 days. It has hiked the rate of interest from 5.85 percent to 6.35 percent. At the same time, the interest rate for FDs from 1896 days to 10 years has been reduced from 6.50 percent to 6 percent.
Senior citizens above 60 years and below 80 years of age are entitled to receive an additional interest rate of 50 bps on the applicable card rates for a period of up to 5 years on domestic deposits less than Rs 3 crore. The lender is giving an additional interest rate of 80 bps for a period of more than 5 years. For senior citizens, the public sector bank offers interest rates ranging from 4 percent to 7.60 percent. Super senior citizens above 80 years of age are eligible to receive an additional interest rate of 80 bps on the applicable card rate in all FD schemes.
Punjab National Bank (PNB) has announced changes to its fixed deposit (FD) interest rates, primarily reducing rates on select tenures for deposits under Rs 3 crore. The highest interest rate is now 7.10 per cent (390 days), down from 7.25%. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
