PNB or Punjab National Bank has hiked its FD interest rates for specific tenures. The hiked FD rates will be applicable for the worth of the tenured scheme below ₹2 Cr, effective from July 4, 2022. After the hike, the interest rates of FDs with tenure of 1-3 years will be increased by 10 to 20 bps. Further mentioned on PNB’s official page, there is no change in the rates of other tenures. PNB’s move to hike the FD interest rates comes after ICICI Bank, State Bank of India and HDFC Bank had already increased their FD rates.
PNB FD Interest Rates After Hike
FD rates for the tenures of over one year and up to 2 years have increased by the bank by 10 to 5.30 per cent from earlier of 5.20 per cent. For FDs maturing in two years and up to three years, the investors will get 5.50 per cent interest rates after the hike of 20 bps. As for other FDs, the bank has remained neutral in terms of interest rates.
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“The Senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities 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 except in the case of the PNB Tax Saver Fixed deposit scheme, where the maximum rate of interest to be allowed over applicable card rate is 100 bps,” said bank’s website.