Punjab National Bank Increased Interest Rates on FD (Current Interest Rates)

In a festive start to the new year, Punjab National Bank (PNB) has unveiled an exciting gift for its customers by raising the interest rates on Fixed Deposits (FDs).

The increased rates, effective from January 1, 2024, are designed to offer more lucrative returns to depositors.

New Rates Overview

PNB has boosted FD interest rates by 45 basis points, or 0.45 percent, across various tenures.

While this move brings joy to many, it’s important to note that some FD rates have undergone a slight reduction.

The bank caters to common citizens with FD options ranging from 7 days to 10 years, providing interest rates between 3.50% to 7.25%.

Highlighted Changes

PNB Bank increased interest on these FDs:

1. 180 days to 270 days: General public – Increased from 5.50% to 6%
2. 271 days to less than 1 year: General public – Increased from 5.80% to 6.25%
3. 400 days: Increased from 6.80% to 7.25%
4. 444 days: Reduced by 0.45%, now offering 6.80% (previously 7.25%)

For Detailed rates, see below

Interest Rates on FDs Less Than Rs 2 Crore

• 7 days to 14 days: General public – 3.50%; Senior citizens – 4.00%
• 15 days to 29 days: General public – 3.50%; Senior citizens – 4.00%
• 30 days to 45 days: General public – 3.50%; Senior citizens – 4.00%
• 46 days to 90 days: General public – 4.50%; Senior citizens – 5.00%
• 91 days to 179 days: General public – 4.50%; Senior citizens – 5.00%
• 180 days to 270 days: General public – 5.50%; Senior citizens – 6.00%

271 days to less than 1 year: General public – 5.80%; Senior citizens – 6.30%

1 year: General public – 6.75%; Senior citizens – 7.25%

• More than 1 year to 443 days: General public – 6.80%; Senior citizens – 7.30%
• 444 days: General public – 6.80%; Senior citizens – 7.30%
• 445 to 2 years: General public – 6.80%; Senior citizens – 7.30%
• More than 2 years to 3 years: General public – 7.00%; Senior citizens – 7.50%
• More than 3 years to 5 years: General public – 6.50%; Senior citizens – 7.00%

5 years to 10 years: General public – 6.50%; Senior citizens – 7.30%

This strategic move by Punjab National Bank aims to benefit depositors and encourage financial growth in the upcoming year.