PNB FD: Punjab National Bank is providing its customers an opportunity to earn more on savings amid rising inflation. PNB has increased the interest rates on FD. The bank has offered 8.05% interest on deposits for 666 days to its super senior citizen customers.
Punjab National Bank (Punjab National Bank – PNB), which is included in the country’s big public sector banks, has increased the interest rates of Fixed Deposits (FD) of less than Rs 2 crore. According to the official website of the bank, the new rates have come into effect from December 19, 2022.
After this change, the bank has reduced the interest rate on FD of 666 days to 7.25 percent. Earlier it was 6.30 percent. The bank has increased the rate of 40 basis points on fixed deposits ranging from 3 years to 10 years. With this announcement of PNB, the customers will get a big relief in the midst of costlier loans.
According to PNB, 666 days FD will get interest at the rate of 7.25 per cent for general public, 7.75 per cent for senior citizen customers and 8.05 per cent for super senior citizens.
Interest rates on deposits below Rs 2 crore have been hiked. Earlier on 26 October 2022, the bank had increased the interest on fixed deposits. Now the bank has changed it once again. The bank has increased the interest rates on deposits of 666 days from 6.30 per cent to 7.25 per cent. For this tenure, the bank is offering 8.05 per cent interest to the super senior citizens. The bank is now paying interest at the rate of 3.50 per cent on FDs maturing in 7 days to 45 days. While senior citizens will get interest at the rate of 4 percent.
Interest rate on FD for senior citizens
According to the bank’s website, senior citizens between 60 years and 80 years get an interest of 50 basis points more than the normal. While elders above 80 years are offered 80 basis points more interest than normal customers.
