• By Aditya Pratap Singh
  • Thu, 11 Jan 2024 01:51 PM (IST)
  • Source:JND

PNB Latest Rate Hike On FDs:  India's second-largest public sector bank 'Punjab National Bank' (PNB) has hiked interest rates on its fixed deposit (FD) for the second time this month. The revised interest rate will be applicable for deposits below 2 crore.

Earlier the PSU bank had hiked interest rates, which became effective from January 1 and now PNB has hiked rates on select term deposits, which is in effect from January 8.

This time, the public sector lender has raised rates by 80 basis points (bps) in the same period. Earlier On January 1, the bank raised rates by up to 45 basis points (bps) in some tenures and cut rates in others.

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PNB Latest FD Rates for General Citizens

After the revision, PNB offers 3.5% to 7.25% on deposits maturing in 7 days to 10 years to common citizens.

PNB Interest rate for 7 to 14 Days is 3.50%

PNB Interest rate for 15 to 29 Days is 3.50%

PNB Interest rate for 30 to 45 Days is 3.50%

PNB Interest rate for 46 to 60 Days is 4.50%

PNB Interest rate for 61 to 90 Days is 4.50%

PNB Interest rate for 91 to 178 Days is 4.50%

PNB Interest rate for 180 to 270 Days is 6.00%

PNB Interest rate for 271 to 299 Days is Days 6.25%

PNB Interest rate for 300 Days is 7.05%

301 Days to less than a year is 6.25%

The interest rate for 1 Year is 6.75%

365 days to 399 days - 6.80%

Interest Rate for 400 Days is 7.25%

The interest rate for 401 Days to 2 Years - 6.80%

For the period above 2 years  and up to 3 years- 7.00%

For the period above 3 years and up to 5 years - 6.50%

For the period above 5 years and up to 10 years -6.50%

PNB's Latest FD Rates for Senior Citizens after the recent revision now range from 4% to 7.75% for FDs with having maturity period between seven days to ten years. For super senior citizens, the interest rate ranges from 4.3% to 8.05%.

This is the second time PNB has hiked the interest rate on fixed deposits in January. Earlier, On January 2, state-owned Punjab National Bank reported a 13.5 per cent rise in December quarter profit to ₹9.72 lakh crore.

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