One of the major public sector banks, PNB has increased its FD interest rates on the terms plans valuing less than ₹2Cr. So, with this revision, the bank has revised the interest rates by 45 bps for the term plan of 444 days. On the other hand, for a term plan of 666 days the return rate is decreased by 20 bps. So, by investing in an FD plan for 444 days you will get a maximum return rate of 7.25 per cent for the normal-age investor and 7.75 per cent for senior citizens and 8.05 per cent for the super senior citizen.
Revised PNB FD Rates 2023
“The bank will maintain its interest rate of 3.50% on fixed deposits that reach maturity within the next 7 to 45 days. On the other hand, PNB will retain its interest rate of 4.50% for deposits maturing in the next 46 to 179 days. For deposits with a term of 180 days to 270 days, PNB will continue offering an interest rate of 5.50%. Furthermore, PNB will also maintain its interest rate of 5.80% for deposits with a term of 271 days to less than a year.”
“Deposits with a maturity period of 1 year to 443 days will continue to earn interest at a rate of 6.80%. However, deposits maturing in 444 days will now earn interest at an increased rate of 7.25%, compared to the previous rate of 6.80%. The bank will maintain its interest rate of 6.80% for fixed deposits maturing in 445 days to 665 days. In contrast, PNB has decreased its FD interest rates from 7.25% to 7.05% for deposits maturing in 666 days.”
“PNB will maintain its interest rate of 6.80% for tenors ranging from 667 days to 2 years. Additionally, for tenors exceeding 2 years and up to 3 years, PNB will continue to offer an interest rate of 7%. Deposits with a maturity period of more than three years and up to ten years will continue to earn interest at a rate of 6.50%.”
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For domestic deposits below Rs. 2 crores, elderly individuals who are between 60 and 80 years old, inclusive, will receive an additional interest rate of 50 basis points (bps) above the respective card rates for terms up to 5 years. For deposit periods exceeding 5 years, they will receive an additional interest rate of 80 bps. Moreover, super senior citizens who are 80 years old and above will receive an interest rate that is 80 basis points higher than the applicable card rate for all maturity tenures.
