Good news for PNB FD holders! Punjab National Bank revises fixed deposit rates –Check new PNB FD rates 2022 | Personal Finance News | Popgen Tech
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New Delhi: After the RBI raised the key interest rate by 35 basis points in the first week of December, major banks private and public sector banks in India also followed suit. The latest Bank to follow suit is the Punjab National Bank (PNB) which has revised its FD interest rates effective from today 19 December 2022.
Punjab National Bank has announced a revision in Domestic Term Deposits (Below Rs. 2 Crore) ‘Interest Rates Revised WEF 19.12.2022″. (Also Read: SBI Credit Card new rules from January 2023)
| Domestic/NRO $ Fixed Deposit Scheme | |||||||
|---|---|---|---|---|---|---|---|
| Sl. No | Period | Existing Rates For Public WEF 26.10.2022 | Revised Rates For Public WEF 19.12.2022 | *Existing Rates For Senior Citizens WEF 26.10.2022 | *Revised Rates For Senior Citizens WEF 19.12.2022 | #Existing Rates For Super Senior Citizens WEF 26.10.2022 | #Revised Rates For Super Senior Citizens WEF 19.12.2022 |
| 1 | 7 to 14 days | 3.50 | 3.50 | 4.00 | 4.00 | 4.30 | 4.30 |
| 2 | 15 to 29 days | 3.50 | 3.50 | 4.00 | 4.00 | 4.30 | 4.30 |
| 3 | 30 to 45 days | 3.50 | 3.50 | 4.00 | 4.00 | 4.30 | 4.30 |
| 4 | 46 to 90 days | 4.50 | 4.50 | 5.00 | 5.00 | 5.30 | 5.30 |
| 5 | 91 to 179 days | 4.50 | 4.50 | 5.00 | 5.00 | 5.30 | 5.30 |
| 6 | 180 days to 270 days | 5.50 | 5.50 | 6.00 | 6.00 | 6.30 | 6.30 |
| 7 | 271 days to less than a year | 5.50 | 5.50 | 6.00 | 6.00 | 6.30 | 6.30 |
| 8 | 1 year | 6.30 | 6.30 | 6.80 | 6.80 | 7.10 | 7.10 |
| 9 | over a year for 599 days | 6.30 | 6.30 | 6.80 | 6.80 | 7.10 | 7.10 |
| 10 | 600 days | 7.00 | 7.00 | 7.50 | 7.50 | 7.80 | 7.80 |
| 11 | 601 days to 665 days | 6.30 | 6.30 | 6.80 | 6.80 | 7.10 | 7.10 |
| 12 | 666 days | 6.30 | 7.25 | 6.80 | 7.75 | 7.10 | 8.05 |
| 13 | 667 days to two years | 6.30 | 6.30 | 6.80 | 6.80 | 7.10 | 7.10 |
| 14 | Above 2 years and up to 3 years | 6.25 | 6.25 | 6.75 | 6.75 | 7.05 | 7.05 |
| 15 | Above 3 years and up to 5 years | 6.10 | 6.50 | 6.60 | 7.00 | 6.90 | 7.30 |
| 16 | Above 5 years and up to 10 years | 6.10 | 6.50 | 6.90 | 7.30 | 6.90 | 7.30 |
Also, the rates for PNB Uttam (Non-Callable) Fixed Deposit Scheme (For Deposit above Rs. 15 Lakh) has also been revised by the bank with effect from 19th December.
| Sl. No | Period | Existing Rates For Public WEF 26.10.2022 | Revised Rates For Public WEF 19.12.2022 | *Existing Rates For Senior Citizens WEF 26.10.2022 | *Revised Rates For Senior Citizens WEF 19.12.2022 | #Existing Rates For Super Senior Citizens WEF 26.10.2022 | #Revised Rates For Super Senior Citizens WEF 19.12.2022 |
|---|---|---|---|---|---|---|---|
| 1 | 91 to 179 days | 4.55 | 4.55 | 5.05 | 5.05 | 5.35 | 5.35 |
| 2 | 180 days to 270 days | 5.55 | 5.55 | 6.05 | 6.05 | 6.35 | 6.35 |
| 3 | 271 days to less than a year | 5.55 | 5.55 | 6.05 | 6.05 | 6.35 | 6.35 |
| 4 | 1 year | 6.35 | 6.35 | 6.85 | 6.85 | 7.15 | 7.15 |
| 5 | over a year for 599 days | 6.35 | 6.35 | 6.85 | 6.85 | 7.15 | 7.15 |
| 6 | 600 days | 7.05 | 7.05 | 7.55 | 7.55 | 7.85 | 7.85 |
| 7 | 601 days to 665 days | 6.35 | 6.35 | 6.85 | 6.85 | 7.15 | 7.15 |
| 8 | 666 days | 6.35 | 7.30 | 6.85 | 7.80 | 7.15 | 8.10 |
| 9 | 667 days to two years | 6.35 | 6.35 | 6.85 | 6.85 | 7.15 | 7.15 |
| 10 | Above 2 years and up to 3 years | 6.30 | 6.30 | 6.80 | 6.80 | 7.10 | 7.10 |
| 11 | Above 3 years and up to 5 years | 6.15 | 6.55 | 6.65 | 7.05 | 6.95 | 7.35 |
| 12 | Above 5 years and up to 10 years | 6.15 | 6.55 | 6.95 | 7.35 | 6.95 | 7.35 |
Senior citizens aged 60 years and up to 80 years shall get an additional interest rate of 50 bps on the card rates applicable for a period up to 5 years and 80bps for a period of more than 5 years on domestic deposits of less than Rs. 2 Crore. In case of staff members as well as retired staff members who are also Senior Citizens, the maximum rate of interest to be allowed on the applicable card rate shall be 150 bps for a period up to 5 years and 180bps for a period of more than 5 years, the bank said.
In addition, Super Seniors aged above 80 years shall get an additional interest rate of 80bps over the applicable card rate in all maturity buckets. In case of staff members as well as retired staff members who are also Super Seniors, the maximum rate of interest to be allowed on the applicable card rate shall be 180 bps on the rate of cards applicable in all maturity buckets, PNB added.
On December 7, the Reserve Bank of India raised the key repo rate by 35 basis points to 6.25 percent, the fifth consecutive increase since May. In total, the RBI has raised the benchmark rate by 2.25 percent since May this year. Consequently, the standing deposit facility (SDF) rate is adjusted to 6 percent and the marginal standing facility (MSF) rate and the bank rate to 6.50 percent.
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