Punjab National Bank: Punjab National Bank (PNB) is offering an additional 80 basis points (bps) on fixed deposits (FDs) for senior citizens above the age of 80 years.
Additional interest rate is available on all tenors ranging from 7 days to 10 years. Banks usually offer higher interest rates, 50 bps, over the FD rates of the general public to senior citizens (60 years and above). But, PNB is the first bank that is currently offering higher interest rate on fixed deposits to senior citizens.
Giving information on its website, PNB has said that super senior citizens above the age of 80 years will get an additional interest rate of 80 bps on the card rate applicable in all maturity buckets.
It further states that in case of staff members as well as retired staff members who are also super senior citizens, the maximum interest rate on the applicable card rate shall be 180 bps higher than the applicable card rate across all maturity buckets.
PNB Latest FD Rates for Super Senior Citizens
On September 13, PNB had increased the interest rates on fixed deposits for all tenors for super senior citizens. The bank is offering fixed deposits starting from 7 days to a maximum of 10 years. Super senior citizens are getting interest rates ranging from 3.80% to 6.55% on fixed deposits maturing in 7 days to 1111 days.
Special FD Schemes for Senior Citizens
During the Covid-19 pandemic, banks such as State Bank of India (SBI), HDFC Bank, ICICI Bank and Bank of Baroda (BOB) had introduced special fixed deposits for senior citizens, where FDs with tenures at higher interest rates was offered. year and above. Some of these banks are still continuing these schemes.
In an effort to make banking services more accessible, PNB has launched banking services through WhatsApp for both customers and non-customers. The WhatsApp banking service will be available 24×7, including holidays, on both Android and iOS-based mobile phones.
