Punjab National Bank: In a surprising move at the start of the new financial year, Punjab National Bank (PNB) has cut interest rates on fixed deposits (FDs), affecting crores of customers.
PNB offers FD options ranging from 7 days to 10 years. The interest rates for regular customers now range between 3.50% and 7.10%, while senior citizens get between 4% and 7.60%.
These new rates came into effect from April 10 and apply to FDs of up to ₹3 crore.
After the RBI reduced the repo rate, several banks, including PNB, have started lowering their FD rates.
PNB’s Latest Interest Rates for FDs Below ₹3 Crore
7 to 14 days:
General public – 3.50%
Senior citizens – 4.00%
15 to 29 days:
General public – 3.50%
Senior citizens – 4.00%
30 to 45 days:
General public – 3.50%
Senior citizens – 4.00%
46 to 60 days:
General public – 4.50%
Senior citizens – 5.00%
61 to 90 days:
General public – 4.50%
Senior citizens – 5.00%
91 to 179 days:
General public – 5.50%
Senior citizens – 6.00%
180 to 270 days:
General public – 6.25%
Senior citizens – 6.75%
271 to 299 days:
General public – 6.50%
Senior citizens – 7.00%
300 days:
General public – 6.50%
Senior citizens – 7.00%
301 to 302 days:
General public – 6.50%
Senior citizens – 7.00%
303 days:
General public – 6.40%
Senior citizens – 6.90%
304 days to less than 1 year:
General public – 6.50%
Senior citizens – 7.00%
1 year:
General public – 6.80%
Senior citizens – 7.30%
Above 1 year to 389 days:
General public – 6.80%
Senior citizens – 7.30%
390 days:
General public – 7.10%
Senior citizens – 7.60%
400 days:
General public – 7.10%
Senior citizens – 7.60%
401 to 505 days:
General public – 6.80%
Senior citizens – 7.30%
506 days:
General public – 6.70%
Senior citizens – 7.20%
507 days to 2 years:
General public – 6.80%
Senior citizens – 7.30%
Above 2 years to 3 years:
General public – 6.75%
Senior citizens – 7.25%
More than 3 years up to 1203 days:
General public – 6.25%
Senior citizens – 6.75%
1204 days:
General public – 6.40%
Senior citizens – 6.90%
1205 days to 5 years:
General public – 6.15%
Senior citizens – 6.75%
5 years to 1894 days:
General public – 6.00%
Senior citizens – 6.80%
1895 days:
General public – 5.85%
Senior citizens – 6.65%
5 to 10 years:
General public – 6.00%
Senior citizens – 6.80%.
