PNB Raises Interest Rates On Fixed Deposits; Those Over 80 Years To Now Collect 8.05% | Popgen Tech

State-owned Punjab National Bank has revised up its interest rate offer on selected mandates, effective Monday, December 19. The lender will now offer 7.25 percent on deposits for 666 days to the general public, compared to 6.30 percent previously. It also increased FD interest rates by 40 basis points each on ‘above 3 years and up to 5 years’ and ‘above 5 years and up to 10 years’ deposit to 6.50 in a hundred each.

“Senior citizens aged 60 years and up to 80 years shall get an additional interest rate of 50 bps on card rates applicable for a period of 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, maximum rate of interest to be allowed on the applicable paper rate shall be 150 bps for a period of up to 5 years and 180 bps for a period of more than 5. years,” according to the PNB website.

It added that super senior citizens aged above 80 years shall get an additional interest rate of 80 bps over the applicable note 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.

Therefore, super senior citizens will be eligible to get up to 8.05 percent annual interest on deposits for 666 days.

Here are the revised interest rates on fixed deposits below Rs 2 crore in Punjab National Bank (per annum) effective from December 19:

7 days to 14 days: For the General Public – 3.50 percent; For Seniors – 4.00 percent

15 days to 29 days: For the General Public – 3.50 percent; For Seniors – 4.00 percent

30 days to 45 days: For the General Public – 3.50 percent; For Seniors – 4.00 percent

46 days to 90 days: For the General Public – 4.50 percent; For Seniors – 5.00 percent

91 days to 179 days: For the General Public – 4.50 percent; For Seniors – 5.00 percent

180 days to 270 days: For the General Public – 5.50 percent; For Seniors – 6.00 percent

271 days to less than a year: For the General Public – 5.50 percent; For Seniors – 6.00 percent

1 year: For the General Public – 6.30 percent; For Seniors – 6.80 percent

Over a year to 599 days: For the General Public – 6.30 percent; For Seniors – 6.80 percent

600 days: For the General Public – 7.00 percent; For Seniors – 7.50 percent

601 days to 665 days: For the General Public – 6.30 percent; For Seniors – 6.80 percent

666 days: For the General Public – 7.25 percent; For Seniors – 7.75 percent

667 days to 2 Years: For the General Public – 6.30 percent; For Seniors – 6.80 percent

More than 2 to 3 years: For the General Public – 6.25 percent; For Seniors – 6.75 percent

More than 3 years to 5 years: For the General Public – 6.50 percent; For Seniors – 7.00 percent

More than 5 years to 10 years: For the General Public – 6.50 percent; For Seniors – 7.30 percent.

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