PNB Hikes FD Interest Rates By Up To 30 Basis Points; Check Latest Rates

Punjab National Bank (PNB) has increased interest rates of select fixed deposits (FDs) tenures by up to 30 basis points (bps). The new interest rates will come into effect from February 20, 2023. The new interest rates will be applicable for fixed deposits of less than Rs 2 crore.

PNB fixed deposit interest rates

The interest rate hike ranges between 5 and 30 bps. For deposits maturing between 271 days and less than 1 year, the bank has increased the interest rate by 30 bps to 5.80 per cent for regular citizens. Earlier, it was at 5.50 per cent. The interest rate yield for FDs maturing between one year and 665 days has increased by 5bps to 6.80 per cent.

Deposits maturing between 667 days and 2 years will earn an interest rate of 6.80 per cent, a 5 basis point increase over the previous rate.

Additionally, for FDs maturing between two and three years, the interest rates have been increased by 25 bps to 7 per cent from 6.75 per cent.

PNB fixed deposit interest rates for senior citizens

For senior citizens putting their money into PNB FDs from 271 days to less than one year, the bank has increased the interest rate by 30 basis points to 6 per cent from 6.30 per cent. The bank has raised the interest rate on deposits maturing between one year and 665 days by 5 basis points to 7.30 per cent.

The interest rate of deposits maturing between 667 days and 2 years has been hiked by 5 basis points to 7.30 per cent.

The interest rate for FDs maturing between two and three years has been increased from 7.25 per cent to 7.50 per cent.

PNB FD interest rate for super senior citizens

Interest rates for money deposited in PNB FDs from 271 days to less than one year has been increased by 30 basis points for super senior citizens.

The interest rate has increased from 6.30 per cent to 6.60 per cent.

The bank increased the one-year to 665 days and 667 days to two-year tenure rates by 5 basis points to 7.60 per cent.

For FDs maturing between two and three years, the interest rates have been increased to 7.80 per cent from 7.55 per cent.

It is important to note that senior citizens are people aged 60 to 80 years old, whereas people over the age of 80 are considered super senior citizens.