Panjab National Bank (PNB)
Panjab National Bank (PNB)
Punjab National Bank (PNB) offers Fixed Deposit for interest rates lying within the range of 3.50% p.a. and 7.25% p.a. Punjab National Bank (PNB) offers Fixed Deposit for interest rates lying within the range of 3.50% p.a. and 7.25% p.a. for the general public. The highest PNB FD interest rate is 7.25% p.a. for deposits of less than Rs.2 crore.
Senior citizens get an additional 50 bps interest over the prevailing interest rates for deposits of less than Rs.2 crore. The FD schemes come with a tenure ranging from 7 days to 10 years.
Punjab National Bank (PNB) has recently adjusted it’s FD interest rates for amounts below Rs.2 crore, implementing increases of up to 50 basis points on specific tenures, effective from 1 January 2024. Notably, the bank raised interest rates on selected durations, including a 50 bps hike for the 180 to 270 days tenure, offering a 6% rate for general citizens. Additionally, for the 271 days to less than 1-year tenure, PNB increased FD rates by 45 bps to 7.25% for general citizens.
45 bps increase was applied to the 400 days maturity period, resulting in a 7.25% rate. The revised overall interest range for general customers now extends from 3.5% to 7.25% on deposits maturing in 7 days to ten years. In comparison, the State Bank of India (SBI) recently raised interest rates on FDs below Rs.2 crore, offering rates between 3.5% and 7% for deposits maturing in seven days to ten years, with an additional 50 bps for senior citizens. Conversely, the Bank of Baroda increased interest rates on retail term deposits by 10 to 125 bps, presenting a range of 4.25% to 7.255% for general customers and 4.75% to 7.75% for senior citizens on deposits maturing in seven days to ten years.
| Tenure | Regular FD Rates (P.A) | Senior Citizen FD Rates |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 29 days | 3.50% | 4.00% |
| 30 Days to 45 Days | 3.50% | 4.00% |
| 46 Days to 60 Days | 4.50% | 5.00% |
| 61 Days to 90 Days | 4.50% | 5.00% |
| 91 Days to 179 Days | 4.50% | 5.00% |
| 180 Days to 270 Days | 6.00% | 6.50% |
| 271 Days to 299 Days | 6.25% | 6.75% |
| 300 Days | 7.05% | 7.55% |
| 301 days to 1 year | 6.25% | 6.75% |
| Above 1 year to 399 days | 6.80% | 7.30% |
| 400 Days | 7.25% | 7.75% |
| 401 days to 2 years | 6.80% | 7.30% |
| Above 2 Years to 3 years | 7.00% | 7.50% |
| Above 3 years to 1203 days | 6.50% | 7.00% |
| 1204 days | 6.40% | 6.90% |
| 1205 days to 5 year | 6.50% | 7.00% |
| above 5 years to 1894 days | 6.50% | 7.30% |
| 1895 days | 6.35% | 7.15% |
| 1896 days to 10 years | 6.50% | 7.30% |
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