PNB Fixed Deposit Interest Rate Update: Punjab National Bank, the second-largest government bank in the country, has made changes to its Fixed Deposit interest rates.
Effective from May 18, 2023, PNB has raised the interest rates on certain tenure FDs while lowering the rates on others. This revision applies to FDs of less than Rs 2 crore.
As per the official website of PNB, the interest rate for a 444-day FD has been increased, whereas the rates for a 666-day FD have been reduced. Customers are advised to check the updated rates to determine the benefits applicable to their deposits.
Interest rates have increased for these tenures:
PNB has increased the interest rates for regular citizens on fixed deposits (FDs) lasting 444 days. The rate has increased from 6.80 percent to 7.25 percent. For senior citizens, the interest rate on the same tenure has increased from 7.30 percent to 7.75 percent. NRE (Non-Resident External) customers will also receive a higher interest rate on this tenure, with an increase from 6.80 percent to 7.25 percent.
Interest rates have been reduced for these tenures
PNB has lowered the interest rates on FDs lasting 666 days. The rate has decreased from 7.25 percent to 7.05 percent. For senior citizens on the same tenure, the interest rate has been reduced from 7.75 percent to 7.55 percent. NRE customers will also receive a lower interest rate on this tenure, with a decrease from 7.25 percent to 7.05 percent.