PNB hikes fastened deposit rates of interest on these tenors: Details inside

On fastened deposits under ₹2 crore, the general public sector lender Punjab National Bank (PNB) has elevated rates of interest. According to the financial institution’s official web site, the revised charges are in impact as of 17.08.2022. The financial institution raised rates of interest on fastened deposits with maturities of 1 yr to a few years, and 5 years and extra, and as much as ten years in response to the rate of interest modification.

PNB FD Rates

The financial institution will proceed to supply an rate of interest of three.25% on fastened deposits maturing in 46 to 90 days and an rate of interest of three.00% on fastened deposits maturing in 7 to 45 days. Fixed deposits with maturities between 91 and 179 days will proceed to pay 4.00% curiosity, whereas time period deposits with maturities between 180 days and fewer than a yr will proceed to pay 4.50% curiosity. PNB elevated the rate of interest on fastened deposits maturing in 1 yr by 20 foundation factors (bps), from 5.30% to five.50%, whereas the financial institution elevated the rate of interest on fastened deposits maturing in a yr and as much as two years by 5 bps, from 5.45% to five.50%.

PNB elevated the rate of interest on fastened deposits maturing in additional than two years and as much as three years by 10 foundation factors, from 5.50% to five.60%. PNB will proceed to pay 5.75% curiosity on fastened deposits maturing in over 3 years and as much as 5 years, and the financial institution has elevated rates of interest on time period deposits maturing in over 5 years and as much as 10 years by 5 foundation factors, from 5.60% to five.65%. The financial institution will proceed to supply fastened deposits with maturities in 1111 days at an rate of interest of 5.75%.

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PNB FD Rates (pnbindia.in)

For the good thing about senior residents, PNB has talked about on its web site that “The Senior residents shall get a further charge of curiosity of fifty bps over relevant card charges for all maturities on home deposits of lower than Rs. 2 Crore. In case of employees members in addition to retired employees members who’re additionally Senior Citizens, most charge of curiosity to be allowed over relevant card charge shall be 150 bps besides in case of PNB Tax Saver Fixed deposit scheme, the place the utmost charge of curiosity to be allowed over relevant card charge is 100 bps.”

“The revised rates of interest will probably be relevant to recent Deposits and renewal of present deposits with impact from 17.08.2022,” stated PNB on its web site.

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