New Delhi. Punjab National Bank (PNB) has made preparations to give a big blow to its account holders. The bank has decided to change the interest rates of the savings account. Punjab National Bank has decided to reduce the interest rates of savings account from 1st December. According to the information released on the official website of PNB, there is a savings account from December 1, their interest rates will be cut.
Know how much will be the interest?
According to the official website of the bank, it has been decided to reduce the interest rates on savings accounts from 2.90 per cent per annum to 2.80 per cent. Let us tell you that this decision of the bank will affect both new and old customers.
How much interest will be received on how much balance?
According to Punjab National Bank, from December 1, 2021, the interest rate will be 2.80 percent per annum for savings fund account balance less than Rs 10 lakh in savings account. At the same time, for Rs 10 lakh and above, the interest rate will be 2.85 percent per annum.
Let us tell you that PNB is the second largest government bank in the country, before that there is State Bank of India which is at number one. SBI’s savings account attracts 2.70 percent interest annually. At the same time, the interest rate on Kotak Mahindra Bank and IndusInd Bank savings account is 4-6% per annum.
What are the interest rates in public sector banks
IDBI Bank – 3 to 3.25 percent
Canara Bank – 2.90 percent to 3.20 percent
Bank of Baroda – 2.75 percent to 3.20 percent
Punjab and Sind Bank – getting 3.10 percent interest
Private banks are giving 3 to 5 percent interest
HDFC Bank – 3 to 3.5 percent
ICICI Bank – 3 to 3.5 percent
Kotak Mahindra Bank – 3.5%
IndusInd Bank – 4 to 5 percent
