April 13, 2024

‘Punjab Nationwide Financial institution’ (PNB), India’s second-largest public sector financial institution, has raised rates of interest on its fastened deposit (FD) for the second time this month. The brand new rate of interest will apply to deposits of lower than 2 crore.

Beforehand, the PSU financial institution raised rates of interest, which took impact on January 1, and now PNB has raised charges on sure time period deposits, which take impact on January 8.

The general public sector lender elevated charges by 80 foundation factors (bps) in the identical interval. Earlier The financial institution hiked charges by as much as 45 foundation factors (bps) in some tenures and lowered charges on others on January 1.

PNB Newest FD Charges for Basic Residents

Following the change, PNB presents unusual residents 3.5% to 7.25% on deposits due in 7 days to 10 years.

  • PNB Rate of interest for 7 to 14 Days is 3.50%
  • PNB Rate of interest for 15 to 29 Days is 3.50%
  • PNB Rate of interest for 30 to 45 Days is 3.50%
  • PNB Rate of interest for 46 to 60 Days is 4.50%
  • PNB Rate of interest for 61 to 90 Days is 4.50%
  • PNB Rate of interest for 91 to 178 Days is 4.50%
  • PNB Rate of interest for 180 to 270 Days is 6.00%
  • PNB Rate of interest for 271 to 299 Days is Days 6.25%
  • PNB Rate of interest for 300 Days is 7.05%
  • PNB Rate of interest for 301 Days to lower than a 12 months is 6.25%
  • PNB Rate of interest for 1 Yr is 6.75%
  • PNB Rate of interest for three hundred and sixty five days to 399 days – 6.80%
  • PNB Rate of interest for 400 Days is 7.25%
  • PNB Rate of interest for 401 Days to 2 Years – 6.80%
  • PNB Rate of interest the interval above 2 years and as much as 3 years- 7.00%
  • PNB Rate of interest the interval above 3 years and as much as 5 years – 6.50%
  • PNB Rate of interest the interval above 5 years and as much as 10 years -6.50%

Following a current modification, PNB’s newest FD charges for senior residents at present vary from 4% to 7.75% for FDs with maturities starting from seven days to 10 years. The rate of interest for tremendous aged folks ranges from 4.3% to eight.05%.

In January, PNB raised the rate of interest on fastened deposits for the second time. Beforehand, state-owned Punjab Nationwide Financial institution reported a 13.5% enhance in December quarter earnings to 9.72 lakh crore on January 2.


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