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PNB Fixed Deposit Interest Rates Hiked by 20 bps for This Tenure; Check New Rates Here

By: Swastika Das Sharma

News18.com

Last Updated: August 18, 2022, 18:19 IST

New Delhi, India

The new PNB FD interest rates have become effective nearly 15 days after the Reserve Bank of India hiked its repo rates. (Image: Shutterstock)

The new PNB FD interest rates have become effective nearly 15 days after the Reserve Bank of India hiked its repo rates. (Image: Shutterstock)

The PNB FD rates are applicable on deposits below Rs 2 crore and have become effective from August 17, Monday.

PNB Fixed Deposit Interest Rate: State-owned lender Punjab National Bank has hiked its fixed deposit interest rates by up to 20 basis points. The new PNB FD rates are applicable on deposits below Rs 2 crore and have already come into effect. The PNB FD interest rates have been applied to fixed deposits with tenors of one year and up to 10 years. No new rate hike has been announced for its special 1111 days FD scheme.

PNB FD rates for deposits maturing in a year have been hiked by 20 bps to 5.50 per cent, up from the earlier 5.30 per cent. For deposits between tenures of over one year and up to two years, the PNB FD rates have been increased by 5 bps to 5.50 per cent. For deposits maturing in two years and up to three years, PNB FD interest rates have been hiked to 5.60 per cent, up by 10 bps. PNB has increased interest rates on fixed deposits maturing in over five years and up to 10 years by 5 basis points to 5.65 per cent Other rates have been kept unchanged by the Punjab National Bank.

Here are the revised interest rates on fixed deposits below Rs 2 crore at the Punjab National Bank (per annum) effective from August 17: 

7 days to 14 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

15 days to 29 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

30 days to 45 days: For General Public – 3.00 per cent; For Senior Citizens – 3.50 per cent

46 days to 90 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent

91 days to 179 days: For General Public – 4.00 per cent; For Senior Citizens – 4.50 per cent

180 days to 270 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

271 days to less than 1 year: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

1 year: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

Above 1 year to 2 years: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

Above 2 Years to 3 Years: For General Public – 5.60 per cent; For Senior Citizens – 6.10 per cent

Above 3 years to 5 years: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent

Above 5 years to 10 years: For General Public – 5.65 per cent; For Senior Citizens – 6.15 per cent

1111 days: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent

“The Senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than Rs. 2 Crore. In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 150 bps except in case of PNB Tax Saver Fixed deposit scheme, where the maximum rate of interest to be allowed over applicable card rate is 100 bps,” said the PNB on its website.

The new PNB FD interest rates have become effective nearly 15 days after the Reserve Bank of India hiked its repo rates by 50 basis points to tackle inflation.

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first published:August 18, 2022, 18:19 IST
last updated:August 18, 2022, 18:19 IST