PNB Raises FD Rates for the Second Time in 10 Days (Current FD Interest Rates)

Punjab National Bank (PNB) has once again increased its Fixed Deposit (FD) interest rates, marking the second hike within a span of 10 days.

This move follows a trend of several banks revising their FD rates in the past month. PNB has specifically raised the interest rate by 80 basis points under a special period scheme, focusing on the 300-day deposits.

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Key Points:

PNB’s 300-day FD interest rate increased from 6.25% to 7.05% as of January 8, 2024.

Other existing interest rates for various durations remain unchanged.

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PNB offers 6.75% interest on one-year deposits, 7.25% on 400-day deposits, and 7% on FDs ranging from 2 to 3 years.

SBI continues its special FD offer with an interest rate of 7.10% per annum for a 400-day tenure, extended until March 31, 2024.

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Experts recommend exploring high-interest rates offered by banks for strategic investments.

Interest Rates from Other Banks:

SBI (State Bank of India): 6.80% per annum on one-year FD, 7% on FDs with a maturity of 2 to 3 years.

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HDFC Bank: Offers interest rates from October 1, 2023, providing 6.6% on one-year FD and 7.15% on FDs between 2 years 11 months to 35 months.

Bank of Baroda: New interest rates implemented from December 29, 2023, offering 6.85% per annum on FDs between one and two years and 7.25% on FDs of 2 to 3 years.


Other FDs: Various maturities yield an annual interest of 7% at Bank of Baroda.

With changing FD interest rates, customers are advised to stay informed about the latest updates and consider investment options that align with their financial goals.



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