PNB increases saving accounts and FD interest rates
If your account is in Punjab National Bank then this news is very important for you. The bank has increases its Fixed deposit rates by up to 50 basis points over various tenors. Apart from this, PNB has increased the interest rate on savings accounts by 25 basis points.
Leading public sector lender, Punjab National Bank (PNB) has hiked interest rates on savings accounts and fixed deposit accounts (PNB FD) below Rs 2 crore. The new rates have come into effect from January 1, 2023, according to the bank’s official website. After the implementation of the new rates, there has been an increase of 25 basis points on PNB Savings Account, while customers of fixed deposits will see an increase of up to 50 basis points.
Pnb savings account interest rates 2023
The interest rate of 2.70% per annum will continue to be available on the savings account balance of less than Rs.10 lakh. For savings account balance above Rs 10 lakh and less than Rs 100 crore, PNB is offering an interest rate of 2.75%. PNB will give 3.00% p.a. interest on savings account of Rs 100 crore and above.
New Pnb FD rates
Deposits maturing in 7 to 45 days will continue to fetch 3.50% interest, while deposits maturing in 46 to 179 days will fetch 4.50% interest. The bank will continue to offer an interest rate of 5.50% on deposits maturing in 180 days to less than 1 year. The bank has increased the interest rate on deposits maturing in 1 year to 665 days by 45 basis points to 6.75% from 6.30%.
FDs maturing in 666 days will continue to fetch an interest rate of 7.25%, but FDs maturing in 667 days to 2 years will fetch an interest rate of 6.75%. Earlier it used to get interest at the rate of 6.30%. The bank has increased interest rates on fixed deposits (FDs) of more than two years and up to three years by 50 basis points. Now instead of these 6.25% interest will be 6.75%. FDs maturing in more than three years will continue to earn 6.50% interest.
