PNB revises FD rates effective from today, promising up to 8.05% to these customers

Customers can now earn up to 8.05% on fixed deposits with Punjab National Bank (PNB), following the revision of interest rates effective from today.

PNB FD Rates for General Public

The interest rates offered by PNB on fixed deposits for general public are as follows:

• For a deposit period of 7 to 45 days, the interest rate is 2.90%.


• For a deposit period of 46 to 90 days, the interest rate is 3.90%.


• For a deposit period of 91 to 179 days, the interest rate is 4.40%.


• For a deposit period of 180 days to less than one year, the interest rate is 4.90%.


• For a deposit period of one year to less than three years, the interest rate is 5.25%.


• For a deposit period of three years to less than five years, the interest rate is 5.30%.


• For a deposit period of five years to up to ten years, the interest rate is 5.40%.

PNB FD Rates for Senior Citizens

The interest rates offered by PNB on fixed deposits for senior citizens are as follows:

• For a deposit period of 7 to 45 days, the interest rate is 3.40%.


• For a deposit period of 46 to 90 days, the interest rate is 4.40%.


• For a deposit period of 91 to 179 days, the interest rate is 4.90%.


• For a deposit period of 180 days to less than one year, the interest rate is 5.40%.


• For a deposit period of one year to less than three years, the interest rate is 5.75%.


• For a deposit period of three years to less than five years, the interest rate is 5.80%.


• For a deposit period of five years to up to ten years, the interest rate is 5.90%.

It is important to note that these rates are applicable to deposits under ₹2 crore. For deposits above ₹2 crore, customers can contact the bank for interest rates.

PNB Fixed Deposit Rates Compared to Other Banks in India

Let us take a look at the fixed deposit rates offered by other Indian banks and compare them to the rates offered by PNB:

• State Bank of India (SBI): For a deposit period of one year to less than two years, SBI offers an interest rate of 5.10% to the general public and 5.60% to senior citizens.


• ICICI Bank: For a deposit period of one year to 389 days, ICICI Bank offers an interest rate of 5.15% to the general public and 5.65% to senior citizens.


• HDFC Bank: For a deposit period of one year to less than two years, HDFC Bank offers an interest rate of 5.10% to the general public and 5.60% to senior citizens.


• Axis Bank: For a deposit period of one year to less than two years, Axis Bank offers an interest rate of 5.15% to the general public and 5.75% to senior citizens.

As we can see, PNB is offering higher interest rates than most other banks for fixed deposits of various tenures.

Conclusion

If you are looking to invest in fixed deposits, it is important to compare the interest rates across different banks and choose the one that offers the best rate for the tenure that suits you. With PNB revising its interest rates for fixed deposits, customers can now earn up to 8.05% on their deposits. However, it is important to note that fixed deposits come with a lock-in period and premature withdrawal may attract a penalty.