PNB Announced New FD Interest Rates: PNB has raised its fixed deposit interest rates. View the specifics of the new rates here

PNB Announced New FD Interest Rates: PNB has raised its fixed deposit interest rates. View the specifics of the new rates here

PNB Announced New FD Interest Rates: PNB has raised its fixed deposit interest rates. View the specifics of the new rates here

Punjab National Bank raised their interest rates significantly for a limited time starting on January 8. Prior to this, on January 1st, the bank raised the rates on a few deposits with certain terms.

Punjab National Bank gave its investors a present of two interest rate increases in less than a month. The bank raised rates by 0.8 percent for a limited time in the second statement. The effective date of this rate adjustment is January 8. Prior to this, the bank has raised rates by 0.45 percent for a certain amount of time. Rates were reduced at a few other occasions, however.

Where did you get the rate increase gift?

The bank has provided information indicating that interest rates on deposits for a 300-day period have risen by 0.8 basis points in comparison to the rates that were published on January 1, 2024. On deposits made for 300 days, interest at a rate of 7.05 percent will be accessible as of January 8. Interest was being paid throughout this time at a rate of 6.25 percent, following the rates that were released on January 1. Seniors will get 7.55 percent interest for this time, up from 6.75 percent about a week ago. Super elderly folks will now get 7.85 percent interest instead of the previous 7.05 percent with this increase.

What are PNB's other rates?

For the average person, PNB is now providing interest rates ranging from 3.5 percent to 7.25 percent. At present, the 400-day deposit offers the greatest interest rate. 7.25 percent interest is being paid on FD during this time. Seniors get 7.75 percent interest during this time, while super seniors receive 8.05 percent interest. For a lengthy period, meaning five to ten years, the bank is giving interest at a rate of 6.5 percent. In addition, interest at the rate of seven percent is paid for terms longer than two years but less than three years.