Punjab National Bank (PNB) has increased the interest rates on fixed deposits of less than Rs 2 crore. According to the official website of the bank, the new rates have come into effect from 19 December 2022.
Large public sector bank Punjab National Bank (PNB) has increased the interest rates on fixed deposits of less than Rs 2 crore. According to the official website of the bank, the new rates have come into effect from 19 December 2022. Following this change, the bank has increased 666-day FD rates by 95 basis points and fixed deposits by 40 basis points for tenures ranging from 3 years to 10 years. According to the announcement, PNB will pay interest at the rate of 7.25 per cent for general public, 7.75 per cent for senior citizens and 8.05 per cent for super senior citizens. These interest rates are for FDs maturing in 666 days.
New interest rates on FD in PNB
The bank is now paying interest at the rate of 3.50 per cent on FDs maturing in 7 days to 45 days. Whereas, there is an interest rate of 4.50 per cent on FDs maturing in 46 to 179 days. Whereas, FDs with a tenure of 180 days to less than one year will now attract interest at the rate of 5.50 per cent. On the other hand, there is an interest rate of 6.30 per cent on FD of tenure from one year to 599 days.
On the other hand, the interest rate on FDs maturing in 600 days remains at 7.00 per cent. At the same time, interest is being received at the rate of 6.30 percent on fixed deposits maturing in 601 days to 665 days. The bank has increased the interest rate on FDs with a tenure of 666 days from 6.30 per cent to 7.25 per cent. Whereas, FDs of 667 days to 2 years will now get interest at the rate of 6.30 per cent.
Apart from this, let us tell you that Canara Bank has also announced an increase in interest rates on fixed deposits of less than Rs 2 crore. According to the official website of the bank, the new rates will be applicable from tomorrow i.e. December 19, 2022. After the change, Canara Bank has increased the rates of bank FDs by up to 55 basis points in different tenors. Interest rates will be available from 3.25 percent to 6.50 percent for the general public and from 3.25 percent to 7 percent for senior citizens. These rates have been issued for tenure from 7 days to 10 years.
