Punjab National Bank or PNB has again increased its FD interest rates this month for the deposit valued less than ₹2 Cr. These revised FD rates are applicable from October 26, 2022, as per PNB’s official website.
PNB Hiked FD Interest Rates Again
Before the hike of October 26, 2022, PNB increased its FD rates for the first time this month on October 19, 2022.
After being in effect, PNB will offer “an interest rate of 4.50% on deposits maturing in 46 days to 90 days, an increase of 75 bps. On deposits maturing in 180 days to less than one year, the bank will now offer an interest rate of 5.50% from 5%.”
As per PNB’s FD interest rate list, on deposits maturing between one year to 599 days, the bank has granted a hike of 60 bps. Whereas, a 7 per cent interest rate is applicable on deposits having a tenure of 600 days.
The rate of interest on FDs maturing in two to three years after the hike is now 6.25 per cent from 5.80 per cent. And 6.10 per cent of interest rate will be offered to those who will invest in FDs having a maturity period between three years to ten years.
PNB Deposit Rates For Senior And Super Senior Citizens
As per PNB’s official website, “Senior citizens will receive an additional 50 basis points over the normal card rates for any domestic deposit maturity of less than Rs 2 crore.”
For the FDs maturing in between 7 days to 10 years the interest rates range between 4 per cent to 7.50 per cent. On the other hand, a 4.30 per cent to 7.80 per cent rate is offered to super senior citizens from PNB on a tenure of 600 days.
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“The Senior citizens of 60 years and up to 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5 years and 80bps for a period above 5 years on domestic deposits of less than Rs. 2 Crore. In the case of staff members as well as retired staff members who are also Senior Citizens, the maximum rate of interest to be allowed over the applicable card rate shall be 150 bps for a period upto 5 years and 180bps for a period above 5 years”, mentioned on PNB’s official website.
