PNB FD Interest Rates: According to PNB’s website, the interest rate has been cut on FDs of less than Rs 2 crore. The new rates have come into effect from June 1 i.e. today.
The thing which was being speculated for the last few days, has started taking concrete form. The effect of Rs 2000 notes reaching the banks has already started. As the liquidity of banks is increasing, the interest on deposits has also started getting affected. The name of Punjab National Bank has appeared first in this list.
PNB has announced a cut in its FD interest rates. Which is an indication that due to the arrival of Rs 2000 notes in the banks, its liquidity has increased, now it does not need more rupees. In such a situation, the bank will no longer pay much interest on the deposit. This means that people investing in FDs may have to be more disappointed in the coming days. According to PNB’s website, the interest rate has been cut on FDs of less than Rs 2 crore. The new rates have come into effect from June 1 i.e. today. Last month, PNB had increased the interest rates on FDs for certain tenures.
Reduced interest rate on this FD
For general people, the bank gives interest between 3.05 per cent to 7.25 per cent for a period ranging from 7 days to 10 years. The bank gives the highest return of 7.25% on FD of 444 days. On 1 year FD, the bank has cut the interest rate by 5 basis points for regular customers. After which the interest rate of this FD has come down from 6.80 percent to 6.75 percent. Last month, the bank had reduced the interest rate of FD of 666 days from 7.25 per cent to 7.05 per cent.
How much interest will senior citizens get
For senior citizens, PNB will get 4% to 7.75% interest on FDs of 7 days to 10 years. The highest interest of 7.75 per cent is given on FD of 444 days. The bank has reduced the one year FD interest rate for senior citizens. Earlier, 7.30 percent interest was available on this FD, which has become 7.25 percent. Last month, the bank had reduced the interest rate on FDs of 666 days from 7.75 per cent to 7.55 per cent.
Interest for Super Senior Citizen
For super senior citizens, the bank offers interest ranging from 4.30 per cent to 8.05 per cent for FDs between 7 days and 10 years. The highest interest of 8.05 per cent is given on FD of 444 days. The bank has cut 5 basis points on one year FD. After which the interest rate has been reduced from 7.60 percent to 7.55 percent. Last month, the bank had reduced the interest rate on FDs of 666 days from 8.05 per cent to 7.85 per cent.
