PNB increases FD rates before Diwali; know latest rates
Since the decision of the Reserve Bank of India to increase the repo rate, all the banks have been continuously increasing their deposit rates such as Fixed Deposit Rates (FD Rates), Recurring Deposits Rates and Savings. The interest rates of the account are increasing. Now the names of two big public sector banks i.e. Punjab National Bank and Union Bank have also been included in this list. The country’s second largest public sector bank i.e. PNB has increased by 50 basis points on FDs of less than Rs 2 crore. After this increase, now the bank is offering a maximum interest rate of 6.50% to the common people and 7.00% to the senior citizens. At the same time, the bank is offering a maximum interest rate of 7.30% to super senior citizens (above 80 years). The new rates of the bank have been implemented from 19 October 2022.
PNB new FD rates October 2022
Punjab National Bank is now offering 0.50% higher interest rate to its ordinary citizens on FDs ranging from 7 days to 10 years. The bank is giving returns ranging from 3.50% to 6.50% in this period. If you open a FD in PNB for 7 days to 45 days, then you will get returns of up to 3.50%. Whereas, 3.75% interest is being given on FD’s with maturity from 46 days to 90 days, 3.75% from 91 days to 179 days, 5.70% on FDs from 180 days to less than 1 year, 5.70% to customers on FDs of 1 year to 404 days.
On the other hand, PNB is 6.10% for general citizens on 405 days FD, 5.70% on 406 days to 599 days FD, 6.50% on 600 days FD, 5.70% from 601 days to 2 years, 2 years to 5 years It is offering 5.80% interest rate on FDs and 5.85% on FDs of 5 to 10 years.
