Punjab National Bank (PNB), one of India’s largest public sector banks, has not yet reduced its Fixed Deposit (FD) interest rates following the recent repo rate cut by the RBI.
The Reserve Bank of India lowered the repo rate by 0.25 percent, bringing it down to 5.25 percent.
Despite this, PNB’s FD rates remain attractive, and you can still earn high fixed interest on deposits.
One of PNB’s most popular FD options can earn you up to ₹23,872 in interest by depositing just ₹1 lakh.
Highest Interest on 390-Day FDs
PNB allows you to open FD accounts for durations ranging from 7 days to 10 years.
The interest rates vary depending on your age and the tenure of the deposit.
390-day FD:
General citizens: 6.50%
Senior citizens: 7.00%
Very senior citizens: 7.30%
3-year FD:
General citizens: 6.40%
Senior citizens: 6.90%
Very senior citizens: 7.00%
How Much Can You Earn?
Here’s an example of returns on a 3-year FD with a deposit of ₹1 lakh:
General citizen: ₹1,20,983 on maturity (₹20,983 interest)
Senior citizen: ₹1,22,781 on maturity (₹22,781 interest)
Very senior citizen: ₹1,23,872 on maturity (₹23,872 interest)
This makes PNB FDs a safe and profitable option, especially for senior and very senior citizens who benefit from higher interest rates.
