PNB Raises FD Interest Rates, Offers Up To 6.9 Percent Return
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PNB Raises FD Interest Rates, Offers Up To 6.9 Percent Return

PNB or Punjab National Bank has raised its FD interest rates for one tenure dedicated to the senior citizens aged 60 or above of our country and all tenures designed for super citizens aged 80 or above of the nation. The latest interest rates, which are hiked up to 30bps, on different FD tenures and are already effective from September 13, 2022, will apply to deposits worth ₹2 Cr or below.

PNB Raises FD Interest Rates

PNB Raises FD Interest Rates For Senior And Super Senior Citizens

Punjab National Bank has raised its FD interest rates for senior citizens by 30bps for the schemes having 5-10 years tenure which has resulted in the final return rates of 6.45 percent to 6.15 percent.

As per PNB, “The senior citizens of age 60 years and up to 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5 years and 80bps for a period above 5 years on domestic deposits of less than Rs 2 crore. In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 150 bps for a period up to 5 years and 180bps for a period above 5 years.”

Moreover, for super senior citizens aged above 80 years, the bank said, “In case of staff members as well as retired staff members who are also Super Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 180 bps over applicable card rate across all maturity buckets.”

Here’s The Revised List of FD Interest Rates Of PNB After Increase For Deposits Below ₹2 Cr Effective From September 13:

FD TenuresInterest Rates For Senior Citizens (%) Interest Rates For Super Senior Citizens (%)
7 days to 14 days3.503.80
15 days to 29 days3.503.80
30 days to 45 days3.503.80
46 days to 90 days3.754.05
91 days to 179 days4.504.80
180 days to 270 days5.005.30
271 days to less than 1 year5.005.30
1 year6.006.30
Above 1 year to 404 days6.006.30
405 days6.606.90
406 days to 2 years6.006.30
Above 2 Years to 3 Years6.106.40
Above 3 years to 5 years6.256.55
Above 5 years to 10 years6.456.45
1111 days 6.256.55

Also read:

Interest Rates On PPF And Other Small Savings Deposits May Rise. Details Here

Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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