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PNB hikes Interest Rates on Fixed Deposits of 1 to 10 Years (See Latest Rates)

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New Delhi :

On fixed deposits below 2 crore, the public sector lender Punjab National Bank (PNB) has increased interest rates.

The bank’s official website states that the new rates are effective as of July 20, 2022.

PNB increased the interest rates on various tenors of fixed deposits in response to the adjustment.

PNB Latest FD Rates

The bank has kept its interest rates on fixed deposits maturing in 7 to 45 days constant at 3 per cent, while PNB will continue to give an interest rate of 3.25 per cent on term deposits maturing in 46 to 90 days.

Fixed deposits with maturities between 91 and 179 days will continue to pay a rate of 4 per cent,

while term deposits with maturities between 180 days and less than a year will continue to pay a rate of 4.50 per cent.

On fixed deposits maturing in one year, PNB will continue to provide an interest rate of 5.30 per cent.

On deposits maturing above one year and up to two years, PNB has increased the interest rate by 15 basis points (bps) to 5.45 per cent from 5.30% earlier.

The bank will continue to give an interest rate of 5.50 per cent on deposits maturing in more than two years and up to three years,

but it has increased the interest rate on deposits maturing in more than three years and up to five years from 5.50 per cent to 5.75 per cent, a 25 basis point increase.

The interest rate for deposits maturing in more than 5 years and up to 10 years will remain at 5.60 per cent,

while PNB has increased the interest rate on fixed deposits maturing in 1111 days from 5.50 per cent to 5.75 per cent, a 25 basis point increase

PNB FD Rates

“The revised interest rates will be applicable to fresh Deposits and renewal of existing deposits with effect from 20.07.2022,”

PNB has mentioned on its website.

PNB has stated on its website that –

“The Senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than Rs. 2 Crore.

In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate,

shall be 150 bps except in case of PNB Tax Saver Fixed deposit scheme, where the maximum rate of interest to be allowed over applicable card rate is 100 bps.”

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