The bank offers 6 percent interest on investments for 180 to 270 days and 6.25 percent interest rate on investments for 271 days to less than one year.
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Punjab National Bank (PNB) has increased interest rates on deposits below Rs. 2 crore. Recently, the fixed deposit rate has been increased by up to 50 basis points. It is reported that the new interest rates have come into effect in the bank from November 1, 2023. Currently, under-60s are getting interest rates ranging from 3.05 to 7.25 percent with this bank for investments with tenures of seven days to ten years. It is reported that the interest rate on fixed deposits with tenors of 180 to 270 days has been increased by 50 basis points. As a result, the rate for that period reached 6 percent. Meanwhile, the bank authority has increased 45 basis points in terms of tenor from 271 days to one year. 6.25 percent is available during that period.
Interest rate on fixed deposits
At present, this state-owned bank offers 3.5 percent interest rate on investments for a period of seven to 45 days. Investing for 46 to 179 days will earn 4.5 percent. The bank offers 6 percent interest on investments for 180 to 270 days. 6.25 percent interest rate on investments for 271 days to less than one year. This bank is offering 6.75 percent on investments for a period of one year. Investments for 1 day to 443 days in a year will earn 6.8 percent interest. The bank is offering 7.25 percent to under 60s for a tenure of 444 days. If you invest for a period of 445 days to two years, you will get 6.8 percent interest. Investments from two years one day to three years will earn 7 percent interest. Three years one day to ten years investment will get 6.5 percent interest rate.
Interest rates for seniors
In this state-owned bank, senior citizens in their 60s will get 4 percent interest on investments for seven to 45 days. 5 percent on fixed deposits for 46 to 179 days. An investment of 180 to 270 days will earn an interest rate of 6.5 percent. The bank offers 6.75 percent on investments for 271 to 364 days. The investment will earn 7.25 percent interest rate for a period of one year. The bank offers 7.3 percent for a period of one year to 443 days. 7.75 percent interest is available on fixed deposits for 444 days.
Interest rates for 80+
7.05 per cent is available in this bank for 271 days to less than one year. This bank is offering 7.55 percent interest for a period of one year. But you will get 8.05 percent on fixed deposit for 444 days.
Source: PNB website
(Please visit bank branches for details)
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