Punjab National Bank (PNB) has elevated interest rates of fixed deposits (FD) for quantities lower than Rs 2 crore. The financial institution has hiked fixed deposit interest rates by 10 to twenty foundation factors for maturities of 1 to 2 years and as much as three years. It has stored the interest rates of different FD tenures unchanged.

The new interest rates are efficient from July 4, 2022, in keeping with the PNB web site.

PNB fastened deposit interest rates

PNB has raised the interest charge of 1 to 2 yr FDs by 10 foundation factors to five.30 %. On deposits having a period of greater than two years and as much as three years, the financial institution will now provide an interest charge of 5.50 %, a rise of 20 foundation factors.

PNB-july-FD

Earlier, the financial institution had revised FD interest rates on varied tenors with impact from June 14, 2022.


Senior residents FD interest charge


For all maturities on home deposits beneath Rs 2 crore, senior individuals will obtain a further 50 foundation factors over the relevant card rates, in keeping with the financial institution’s web site. Employees and retired workers who’re additionally senior residents are eligible for a most charge of interest of 150 bps over the relevant card charge.

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