PNB Revises Interest Rates On Fixed Deposits (W.e.f. 7th May 2022)
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Investment
oi-Vipul Das
Punjab National Bank (PNB), a public sector lender, has announced an interest rate rise on fixed deposits of less than Rs 2 crore. The statement has been issued today, May 7, 2022, and as a result of the modification, the bank is now giving a 3% interest rate on deposits maturing in 7 to 45 days, up from 2.9 per cent before. The interest rate on term deposits maturing in 46 to 90 days has stayed constant at 3.25 per cent. The interest rate on term deposits maturing in 91 to 179 days has been increased by 20 basis points from 3.8 per cent to 4.00 per cent.
The interest rate on term deposits maturing in 180 days to less than one year has been raised by 10 basis points from 4.40 per cent to 4.50 per cent. On deposits maturing in one year to two years, PNB will now give an interest rate of 5.10 per cent, up from 5% previously. The interest rate on deposits maturing in more than two years and up to three years has stayed steady at 5.10 per cent. The interest rate on term deposits maturing in the range of 3 to 10 years has stayed steady at 5.25 per cent.
PNB FD Rates 2022
The bank will provide the following interest rates on fixed deposits of less than Rs 2 crore beginning from May 7, 2022.
| Period | General ROI p.a. in % | For Senior Citizen ROI (% p.a.) |
|---|---|---|
| 7 to 14 days | 3 | 3.5 |
| 15 to 29days | 3 | 3.5 |
| 30 to 45 days | 3 | 3.5 |
| 46 to 90 days | 3.25 | 3.75 |
| 91 to 179 days | 4 | 4.5 |
| 180 days to 270 Days | 4.5 | 4.9 |
| 271 days to less than 1 year | 4.5 | 4.9 |
| 1 year | 5.1 | 5.6 |
| above 1 year & upto 2 years | 5.1 | 5.6 |
| above 2 year & upto 3 years | 5.1 | 5.6 |
| above 3 year & upto 5 years | 5.25 | 5.75 |
| above 5 years & upto 10 years | 5.25 | 5.75 |
| Source: pnbindia.in |
Story first published: Saturday, May 7, 2022, 10:11 [IST]
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