PNB Savings Schemes: The Reserve Bank of India did not announce any change in the repo rate in an important meeting of the MPC held in August. However, before this, the Reserve Bank of India (RBI) has cut the repo rate by 1.00 percent. RBI had reduced the repo rate by 0.25 percent in February, 0.25 percent in April and then 0.50 percent in June. After reducing the repo rate by 1.00, banks also reduced the interest rates of FD. Public sector Punjab National Bank i.e. PNB is now offering interest ranging from 3.25 percent to 7.40 percent on FD accounts.
PNB is giving the highest interest on FD of 390 days
FD account can be opened in PNB for a period of 7 days to 10 years. Punjab National Bank is giving the highest interest on FD of 390 days. This government bank is giving 6.60 percent interest to general citizens, 7.10 percent to senior citizens and 7.40 percent to super senior citizens (elderly people above 80 years of age) on FD of 390 days. Apart from this, Punjab National Bank is giving 6.40 percent interest to general citizens, 6.90 percent to senior citizens and 7.20 percent to super senior citizens on FD of 2 years duration.
If you deposit Rs 2 lakh in 2-year FD, you will get fixed interest of Rs 30,681
If Rs 2 lakh is deposited in 2-year FD scheme in Punjab National Bank (PNB), then general citizens will get a total of Rs 2,27,080 on maturity, which includes fixed interest of Rs 27,080. Similarly, if you are a senior citizen and deposit Rs 2 lakh in a 2-year FD in PNB, you will get a total of Rs 2,29,325, which includes a fixed interest of Rs 29,325. Similarly, if you are a super senior citizen and deposit Rs 2 lakh in a 2-year FD in PNB, you will get a total of Rs 2,30,681, which includes a fixed guaranteed interest of Rs 30,681.
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