Now you will get more interest than before on some FDs of special tenure of PNB. The bank has increased the interest rates on these FDs by half percent.
This benefit will be available to common people, senior and super senior citizens on deposits of less than Rs 2 crore. These new FD rates will be applicable from November 1st. At present, Punjab National Bank is offering the highest rate of 7.25 percent to the common people, which is available for a period of 444 days.
What are the new changes
The bank has informed that it has increased the interest rate on FD for the period of 180 to 270 days for the common people by half a percent and has increased the rates from 5.5 percent to 6 percent. Whereas for the period of more than 271 days and less than one year, FD rates have been increased by 0.45 percent and it has been increased from 5.8 percent to 6.25 percent.
According to the bank’s website, senior citizens i.e. Indian citizens above 60 years and below 80 years will get half percent extra on FD for tenure less than 5 years and 0.8 percent extra on FD for tenure more than 5 years. This increase will be applicable on domestic deposits up to a limit of less than Rs 2 crore.
On this basis, the interest rate on FD for senior citizens for a period of 180 to 270 days has increased from 6 percent to 6.5 percent. Whereas for the period of more than 271 days and less than one year, the FD rate has been increased from 6.3 percent to 6.75 percent.
Whereas for Super Senior Citizens, the interest rate on FD for period of 180 to 270 days has increased from 6.3 percent to 6.8 percent. Whereas for the period of more than 271 days and less than one year, the FD rate has been increased from 6.6 percent to 7.05 percent.
What are the interest rates of Punjab National Bank?
Punjab National Bank is currently offering FD options for a period of 7 days to 10 years in which interest ranging from 4 percent to 7.75 percent is being offered. The highest interest is available on FD of 444 days, here the investor is getting interest up to 7.75 percent.
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