Public sector lender, Punjab National Bank has revised the interest rates on savings account deposits and fixed deposits, with effect from September 1.
As per the bank’s latest notification, savings account with a balance up to Rs 5 lakh will get 3.25 percent per annum, while savings accounts with balance more than Rs 5 lakh to Rs 50 lakh and savings account with a balance above Rs 50 lakh will get an interest of 3.80 percent.
Post the Reserve Bank last month cut repo rate by 35 basis points, several banks have been revising their fixed deposit rates.
As compared to the general public on fixed deposits, PNB offers 50-basis-point higher interest rates to senior citizens.
PNB latest Fixed Deposit rates from Seven days to One year (less than Rs 2 crore)
PNB is offering an interest rate of 4.5 percent on 7-45 day fixed deposits and it goes up 5.5 percent on 46 to 179 day FDs. On 180 days to 270 days FDs, PNB is paying 6 percent, 271 days to less than 1 year 6.25 percent, 333 days 6.30 percent and 1 year 6.6 percent.
7 to 14 days 4.50 percent
15 to 29 days 4.50 percent
30 to 45 days 4.50 percent
46 to 90 days 5.50 percent
91 to 179 days 5.50 percent
180 days to 270 Days 6.00 percent
271 days to less than 1 year 6.25 percent
333 days 6.30 percent
1 year 6.60 percent
PNB latest FD rates from 444 days to 3 years
PNB is offering 6.6 percent on 444-day and 555-day maturity FDs. On 1 year to 3 years, PNB is offering 6.5 percent.
444 days 6.60 percent
555 days 6.60 percent
above 1 year and up to 3 years 6.50 percent
PNB latest FD rates from 3 years to 10 years
On FDs between 3 years and up to 10 years, PNB is offering 6.5 percent interest.
Above 3 year and up to 5 years 6.50 percent
Above 5 years and up to 10 years 6.50 percent
PNB latest FD rates for senior citizens
PNB latest FD rates for senior citizens
7 to 14 days 5 percent
15 to 29 days 5 percent
30 to 45 days 5 percent
46 to 90 days 6 percent
91 to 179 days 6 percent
180 days to 270 Days 6.5 percent
271 days to less than 1 year 6.75 percent
333 days 6.80 percent
1 year 7.10 percent
444 days 7.10 percent
555 days 7.10 percent
Above 1 year and up to 3 years 7 percent
Above 3 year and up to 5 years 7 percent
Above 5 years and up to 10 years 7 percent
The government last week announced four new sets of amalgamations in the public sector banking arena. PNB, Oriental Bank of Commerce and United Bank of India will be merging to form India’s second-largest lender.
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