PNB hikes fixed deposit rates: Public sector Punjab National Bank (Punjab National Bank) has given a big gift to its customers. PNB has increased the interest rates of select Fixed Deposits (FDs). The new interest rates will be applicable to deposits of less than Rs 2 crore. According to PNB’s website, the new rates have come into effect from 20 February 2023.
FD rates hiked by 5 to 30 bps
According to the bank’s website, Punjab National Bank (PNB) has increased interest rates on select FDs by up to 30 basis points (bps). Interest rates have been increased in the range of 5 to 30 bps. For deposits maturing between 271 days and less than 1 year, the bank has increased the interest rate for regular citizens by 30 bps from 5.50% to 5.80%.
Interest rate on FD of 2 to 3 years increased by 25 bps
FDs maturing in one year to 665 days were increased by 5 bps to 6.80%. Similarly, the interest rate on FDs with maturity in 667 days and 2 years has been increased by 5 bps to 6.80%. Punjab National Bank has increased the FD rates maturing between 2 years and 3 years by 25 bps and the interest rate has increased from 6.75% to 7%.
PNB FD interest rate for senior citizens
PNB has increased the interest rate by 30 basis points from 6% to 6.30% for senior citizens with tenure of 271 days to less than 1 year. The bank has increased the interest rate on deposits maturing in 1 year and 665 days by 5 bps to 7.30%. FDs maturing in 667 days and 2 years increased the interest rate by 5 bps to 7.30%. PNB has increased the interest rate on fixed deposits maturing between 2 years to 3 years from 7.25% to 7.50%.
Interest rate on FD for super senior citizens
The bank has increased the interest rate by 30 bps from 6.30% to 6.60% for super senior citizens with tenure of 271 days to less than 1 year. The bank increased the deposit rates for 1 year to 665 days and 667 days to 2 years by 5 bps to 7.60%. Punjab National Bank has increased the interest rate from 7.55% to 7.80% on FDs of more than 2 years and up to 3 years. Let us tell you that people in the age group of 60 to 80 years are senior citizens, while people of 80 years and above are super senior citizens.
