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PNB hikes fastened deposit rates of interest twice in every week: Now rise up to six.10%

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Punjab National Bank (PNB), a public sector lender, has as soon as extra introduced an increase within the rates of interest for fastened deposits beneath ₹2 crore. The larger rates of interest on fastened deposits will take impact on August 19, 2022, based on the financial institution’s official web site. Earlier, on August 17, 2022, PNB elevated the rates of interest on fastened deposits over a spread of tenors by 5 to twenty bps. The financial institution has upped its fastened deposit charges twice this week and now gives as much as 6.10% after in the present day’s hike. As of in the present day, PNB will provide an rate of interest of 5.50% on fastened deposits maturing in over 1 12 months and as much as 404 days, 6.10% on fastened deposits maturing in 405 days, and 5.50% on fastened deposits maturing in 406 days to 2 years. Previously, the financial institution had promised an rate of interest of 5.50% on deposits maturing in over 1 12 months to 2 years. “The revised rates of interest might be relevant to recent Deposits and renewal of current deposits with impact from 19.08.2022,” PNB has said on its website.

PNB FD Rates

After today’s adjustment, PNB is now offering a maximum interest rate of 6.10% to the general public and 6.60% to senior citizens on fixed deposits maturing in 405 days. On tax-saving deposits of 5 years, PNB is now offering an interest rate of 5.75% to the general public and 6.25% for senior citizens. On fixed deposits maturing in 7 days to 1111 days, PNB will now offer an interest rate ranging from 3.00% to 5.75% for the general public and 3.50% to 6.25% for senior citizens. For all maturities on domestic deposits below Rs. 2 crores, senior citizens would receive an additional rate of interest of 50 basis points over the applicable card rates.

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PNB FD Rates (pnbindia.in)

“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,” mentioned PNB on its web site.

Today, PNB additionally adjusted the rate of interest on the “PNB UTTAM FIXED DEPOSIT SCHEME,” a non-callable deposit scheme. With impact from 19.08.2022, PNB will provide an rate of interest on Uttam Deposit Accounts with maturities between 91 and 1111 days that vary from 4.05% to five.80%. Investors will now obtain a most rate of interest of 6.15% when the PNB Uttam Deposit Scheme matures in 405 days.

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