May 22, 2024

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PNB hikes rates of interest on fastened deposits: Check new charges right here

2 min read

On fastened deposits under ₹2 crore, the general public sector lender Punjab National Bank (PNB) has elevated rates of interest. The financial institution’s official web site states that the brand new charges are efficient as of July 20, 2022. PNB elevated the rates of interest on varied tenors of fastened deposits in response to the adjustment.

PNB Latest FD Rates

The financial institution has saved its rates of interest on fastened deposits maturing in 7 to 45 days fixed at 3 per cent, whereas PNB will proceed to offer an rate of interest of three.25 per cent on time period deposits maturing in 46 to 90 days. Fixed deposits with maturities between 91 and 179 days will proceed to pay a fee of 4 per cent, whereas time period deposits with maturities between 180 days and fewer than a 12 months will proceed to pay a fee of 4.50 per cent. On fastened deposits maturing in a single 12 months, PNB will proceed to supply an rate of interest of 5.30 per cent.

On deposits maturing above one 12 months and as much as two years, PNB has elevated the rate of interest by 15 foundation factors (bps) to five.45 per cent from 5.30% earlier. The financial institution will proceed to offer an rate of interest of 5.50 per cent on deposits maturing in additional than two years and as much as three years, however it has elevated the rate of interest on deposits maturing in additional than three years and as much as 5 years from 5.50 per cent to five.75 per cent, a 25 foundation level improve.

The rate of interest for deposits maturing in additional than 5 years and as much as 10 years will stay at 5.60 per cent, whereas PNB has elevated the rate of interest on fastened deposits maturing in 1111 days from 5.50 per cent to five.75 per cent, a 25 foundation level improve.

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PNB FD Rates (pnbindia.in)

“The revised rates of interest can be relevant to contemporary Deposits and renewal of current deposits with impact 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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