Punjab National Bank (PNB) has recently revised the interest rates on fixed deposits (FDs), starting from this month. The lender offers various FDs across different tenures, ranging from 7 days to 10 years.
PNB provides an interest rate of 3% on FDs with maturity between 7 days to one-and-half months, 3.25% for 46 days to three months.
For FDs maturing in more than three month one day to less than six months, the bank gives a 4% interest rate after the latest revision. For deposits maturing in six months to nine months, the bank will give 4.40% interest rate.
Deposits maturing in nine months one day to less than a year, will fetch an interest rate of 4.5%. PNB offers an interest of 5.10% for deposits maturing in a year to less than three years. Long-term Deposits maturing in three years one day to 10 years will get you an interest rate of 5.25%.
Senior Citizens FD rates
PNB offers a higher rate to senior citizens on select maturities. For maturity of FDs between 7 days to 45 days, the interest rate will be 3.5% for elderly people. For deposits maturing in 46 days to 90 days, PNB offers an interest of 3.75%. FDs maturing between 91 days to 179 days, will fetch an interest of 4.5%.
PNB gives 4.9% interest rates for fixed deposits maturing in six months to nine months. For deposits maturing in nine months one day to less than a year, the interest will be 5%. For FDs maturing in a year to up to three years, the bank provides an interest rate of 5.6% to senior citizens.
PNB will offer 5.75% to senior citizens for FDs maturing in more than three years to up to 10 years. The interest are applicable on deposit of up to Rs 2 crore.
The senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than Rs 2 crore, the bank said.
Another private sector lender Axis Bank has revised interest rates on FDs with effect from May 6. ICICI Bank has also revised fixed deposit interest rates on than Rs 2 crore, effective from May 13.