PNB has announced changes in interest rates on fixed deposits of less than Rs 2 crore. However, there has been no change in the interest rate of deposits maturing in 46 to 90 days. The new rates have come into effect from May 7.
Public sector Punjab National Bank (PNB) has announced changes in interest rates on fixed deposits (FDs) of less than Rs 2 crore. After this decision of the bank, now you will get 3 percent interest rate instead of 2.9 percent on fixed deposits maturing in 7 to 45 days. The new rates of the bank have come into effect from May 7.
However, there has been no change in the interest rate of fixed deposits maturing in 46 to 90 days. For this period, you will get only 3.25 percent interest. At the same time, fixed deposits maturing in 91 to 179 days will now get 4 percent interest rate instead of 3.8 percent.
The interest rate on fixed deposits maturing in 180 days to less than 1 year has been increased by 10 basis points from 4.4 per cent to 4.5 per cent. Similarly, the maturity bucket between 1 year to 2 years will now get interest at the rate of 5.1 percent instead of 5 percent. The interest rate on deposits maturing more than 2 years and up to 3 years in the bank has remained stable at 5.1 percent. Similarly, the interest rate on fixed deposits maturing in 3 to 10 years has remained stable at 5.25 per cent.
PNB is offering 3% interest rate on fixed deposits maturing in 7 to 14 days. The bank will get 3 percent interest on FDs of 15 to 29 days, 30 to 45 days. 3.25 percent interest on FDs of 46 to 90 days, 4 percent interest on FDs of 91 to 179 days. For a period of 180 to 270 days and 271 to less than 1 year, 4.5 percent interest will be available.
At the same time, for 1 year and more than 1 year to 2 years, for more than 2 years to 3 years, interest will be available at the rate of 5.1 percent. At the same time, 5.25 percent interest is being given for more than 3 years to 10 years. Let us tell you that .5 percent additional interest is given to senior citizens on fixed deposits of almost all tenors.
