Wednesday, February 8, 2023

PNB hikes FD Rates: General public is getting up to 7.25% interest

PNB hikes FD Rates: PNB has already given gifts to its customers before the new year. The bank has increased the interest rates on fixed deposits. This decision was taken after RBI’s increase in the repo rate. All other banks are also raising interest rates on fixed deposits. If you have a savings account in Punjab National Bank, you can get good returns by investing your money in a fixed deposit account. You can now open a Fixed Deposit online in a few steps with Rs 5,000 only.

PNB hikes FD Rates

After increasing the repo rate by RBI, Punjab National Bank will give interest at the rate of 3.50% to 7.25% for a period of 7 days to 10 years to all its general customers. The bank currently offers an interest rate of 3.50% on fixed deposits maturing in 7 to 45 days and 4.50% on those maturing in 46 to 179 days. PNB offers a 5.50% interest rate on FDs maturing in 180 to less than 1 year and a 6.30% interest rate on FDs maturing in 1 year to 599 days. Punjab National Bank has increased the rate of all its fixed deposit schemes bank offers an interest rate of 7% on fixed deposits maturing in 600 days.

On FDs maturing in 601 days to 665 days, the bank is now offering an interest rate of 6.30%, and on those maturing in 666 days, PNB is now offering an interest rate of 7.25% each.

Must Read this: – HSBC Bank hikes FD Rates: General Public is getting up to 7% Interest.

PNB Bank FD Interest Rates for Domestic Below Rs. 2 crore – General Public (PNB hike FD Rates)

PNB hikes FD Rates
PNB hikes FD Rates: According to the announcement, PNB will begin offering a maximum interest rate of 7.25% for the general public on deposits that mature in 666 days.
PeriodGeneral Public Rates (p.a.)
7 – 45 days3.50%
46 – 179 days4.50%
180 to less than 1 year5.50%
1 year to 599 days6.30%
600 days7.00%
601 – 665 days6.30%
666 days7.25%
667 days to 2 years6.30%
Above 2 years and up to 3 years6.25%
Above 3 years and up to 5 years6.50%
Above 5 years and up to 10 years6.50%

Interest rates are subject to change from time to time. Applicable interest rates will be given on the date/time or receipt of the funds by the bank.

Features and Benefits of PNB hikes FD Rates

If you want to open your Fixed Deposit account in PNB, then you should know about the features and benefits of PNB hikes FD Rates.

  • Returns are guaranteed on the money kept in Fixed Deposit.
  • If you have a savings account with Punjab National Bank, you can open your Fixed Deposits account easily.
  • If you reinvest your money, then you get the benefits of compound interest.
  • Due to the current interest rate, you can double your investment very quickly.
  • The money invested under Fixed Deposits is not exposed to market risk.
  • Within Fixed Deposits, you get a tax saving Fixed Deposits scheme, in which you get an income tax rebate under Section 80C.

Fixed deposits are widely preferred by many as it offers guaranteed returns. When you invest money in fixed deposits, you can grow your savings for a financially secure future. At Punjab National Bank, you can enjoy attractive FD interest rates that give you guaranteed returns regardless of market risk.

Open Axis Bank Saving Account Online Link:

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