PNB hikes FD rates up to 95 bps, now up to 8.05% on this tenor | Popgen Tech

PNB FD Rates

The bank is offering an interest rate of 3.50% on deposits that mature in the next 7 to 45 days, while PNB will continue to give an interest rate of 4.50% on deposits that mature in the 46 to 179 days to come. On deposits that mature in 180 days to less than a year, PNB will continue to offer an interest rate of 5.50%, and on deposits that mature in one year to 599 days, PNB will continue to offer an interest rate of 6.30%.

The interest rate on deposits maturing in 600 days will remain at 7.00%, while the interest rate on deposits maturing in 601 days to 665 days will remain at 6.30%. The bank increased the interest rate on deposits maturing in 666 days by 95 basis points from 6.30% to 7.25%, while PNB will continue to give an interest rate of 6.30% on deposits maturing in 667 days for two years.

PNB will continue to pay interest of 6.25% on deposits maturing in more than 2 years and up to 3 years, but increased the interest rate on deposits maturing in more than 3 years and up to 10 years by 40 basis point, from 6.10% to 6.50%.

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On the PNB Tax Saver Scheme, the general public will get an interest rate of 6.10%, senior citizens will get an interest rate of 6.60%, staff members will get an interest rate of 7.10 % and retired seniors will get an interest rate of 7.10%. The PNB mentioned on its website that “In case of staff members as well as retired staff members who are also Seniors, the maximum interest rate to be allowed is 100 bps on the applicable card rates. In case of PNB Tax Saver fixed deposit scheme, staff members as well as retired staff members who are also Senior Citizens, the maximum rate of interest payable on the card rate applicable is 100 bps.”

On domestic deposits of less than Rs. 2 crore, senior citizens aged 60 years and above (up to 80 years) get an additional interest rate of 50 basis points (bps) over the prevailing standard rates for a term of up to 5 years and 80 bps for a term above 5 years. The highest rate of interest that can be charged over the standard rate appropriate for existing employees and retired employees who are also senior citizens shall be 150 bps for a term of up to 5 years and 180 bps for a term of more than 5 years . The PNB mentioned on its website that “Furthermore, Super Seniors aged above 80 years shall get an additional interest rate of 80bps on the card rate applicable 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.”