Public sector bank, Punjab National Bank has announced a hike up in interest rates on fixed deposits under 2 crore rupees. The higher interests will come into effect today on the 19th of August 2022.
This is the second time this week that the bank increased the interest rates and can avail an interest rate of 5.50% on fixed deposits maturing in over 1 year and up to 404 days, 6.10% on fixed deposits maturing in 405 days, and 5.50% on fixed deposits maturing in 406 days to 2 years.
Earlier, the bank had assured an interest rate of 5.50% on fixed deposits maturing in over 1 year to 2 years.
After today’s revision, PNB is now offering a maximum interest rate of 6.10% to the general public and 6.60% to senior citizens on fixed deposits maturing in 405 days.
On tax-saving deposits of 5 years, PNB is now providing interest rates of 5.75% to the general public and 6.25% for senior citizens.
On fixed deposits maturing in 7 days to 1111 days, PNB will now give an interest rate extending from 3.00% to 5.75% for the general public and 3.50% to 6.25% for senior citizens.
For all maturities on domestic deposits below Rs. 2 crores, senior citizens would receive an additional rate of interest of 50 basis points over the applicable card rates.
