PNB Reduces FD Interest Rates for Select Tenures: Check Details:

PNB Reduces FD Interest Rates for Select Tenures: Check Details Punjab National Bank (PNB) has lowered its fixed deposit (FD) interest rates for certain time periods on deposits less than Rs 3 crore. PNB follows other banks that recently cut rates, including Yes Bank, Canara Bank, Kotak Mahindra Bank, Equitas, and Shivalik Small Finance Bank.

Latest PNB FD Interest Rates Now Available

After these changes, Punjab National Bank now offers interest rates between 3.50% and 7.10% for regular customers who open FDs lasting between 7 days and 10 years. The best rate you can get is 7.10% if you choose the 390-day deposit period. Previously, the bank's highest rate was 7.25%, which was available on 400-day deposits. This means the top rate has dropped by 0.15%.

Changes to Multiple Deposit Time Periods

PNB has changed rates for many different deposit periods. The 300-day FD rate has dropped from 7.05% to 6.50% (a 0.55% decrease). The 303-day FD now pays 6.40%, down from 7.00% (a 0.60% decrease). For FDs between 2 and 3 years, the rate has been reduced from 7.00% to 6.75% (a 0.25% decrease). The 1204-day deposit rate was cut from 6.40% to 6.15% (a 0.25% decrease). For deposits lasting between 1205 days and 5 years, the rate is now 6.25%, down from 6.50% (a 0.25% decrease). If you choose a deposit period longer than 5 years but less than 1894 days, you'll get 6.00% instead of the previous 6.50% (a 0.50% decrease). Interestingly, the 1895-day period has seen a surprising change; the rate has decreased markedly from 6.35% to 5.85% (a 0.50% decrease). For very long deposits between 1896 days and 10 years, the rate has been reduced from 6.50% to 6.00% (a 0.50% decrease).

Special Rates for Senior Citizens

If you're a senior citizen between 60 and 80 years old, PNB offers you better rates than regular customers. You'll get an extra 0.50% (or 50 basis points) on top of the normal rates for deposits up to 5 years. For deposits longer than 5 years, you get an even better deal with an additional 0.80% (or 80 basis points). After these new changes, senior citizens can now earn between 4.00% and 7.60% on their fixed deposits. This means that even with the rate cuts, seniors still get preferential treatment to help their savings grow faster.

Even Better Rates for Super Senior Citizens

PNB offers the best rates to super senior citizens who are 80 years or older. These customers get an extra 0.80% (or 80 basis points) on top of the regular rates for all deposit periods. With the latest rate changes, super senior citizens can now earn between 4.30% and 7.90% on their fixed deposits. This higher interest rate is designed to provide more financial security to the oldest customers, who may be fully dependent on interest income from their savings.

Period	Revised Rates for Public	Revised Rates for Senior Citizens	Revised Rates for Super Senior Citizens
7 to 14 Days	3.50%	4.00%	4.30%
15 to 29 Days	3.50%	4.00%	4.30%
30 to 45 Days	3.50%	4.00%	4.30%
46 to 60 Days	4.50%	5.00%	5.30%
61 to 90 Days	4.50%	5.00%	5.30%
91 to 179 Days	5.50%	6.00%	6.30%
180 to 270 Days	6.25%	6.75%	7.05%
271 Days to 299 Days	6.50%	7.00%	7.30%
300 Days	6.50%	7.00%	7.30%
301 Days to 302 Days	6.50%	7.00%	7.30%
303 Days	6.40%	6.90%	7.20%
304 Days to < 1 Year	6.50%	7.00%	7.30%
1 Year	6.80%	7.30%	7.60%
> 1 Year to 389 Days	6.80%	7.30%	7.60%
390 Days	7.10%	7.60%	7.90%
391 Days to 399 Days	6.80%	7.30%	7.60%
400 Days	6.80%	7.30%	7.60%
401 Days to 505 Days	6.80%	7.30%	7.60%
506 Days	6.70%	7.20%	7.50%
507 Days to 2 Years	6.80%	7.30%	7.60%
> 2 Years to 3 Years	6.75%	7.25%	7.55%
> 3 Years to 1203 Days	6.25%	6.75%	7.05%
1204 Days	6.15%	6.65%	6.95%
1205 Days to 5 Years	6.25%	6.75%	7.05%
> 5 Years to 1894 Days	6.00%	6.80%	6.80%
1895 Days	5.85%	6.65%	6.65%
1896 Days to 10 Years	6.00%	6.80%	6.80%

Even though the overall rates have been reduced, super senior citizens still receive the bank's most favourable interest rates across all deposit options.