PNB revises FD rates effective today, promises up to 8.05% to these customers

pnb fd rates

The bank will continue to offer an interest rate of 3.50% on fixed deposits maturing within the next 7 to 45 days, while PNB will continue to offer an interest rate of 4.50% on deposits maturing in the next 46 to 179 days. PNB will keep its current interest rate of 5.50% for deposits of 180 days to 270 days and 5.80% for deposits of 271 days to less than one year.

Deposits maturing in 1 year to 443 days will still fetch 6.80% interest, while deposits maturing in 444 days will now fetch 7.25% interest from 6.80% earlier. The bank will continue to offer an interest rate of 6.80% on term deposits maturing in 445 days to 665 days, and PNB has reduced its interest rate on deposits maturing in 666 days to 7.05% from 7.25%.

For tenures from 667 days to 2 years and above 2 years and up to 3 years, PNB will continue to offer an interest rate of 6.80% and 7% respectively. Deposits that mature in more than three years and up to ten years will continue to pay 6.50% interest rate.

On domestic deposits of less than Rs. 2 crore, senior citizens who are 60 years and above (up to and including 80 years) will get an additional interest rate of 50 basis points (bps) on the applicable card rates and 80 bps for tenors up to 5 years. Additional for a period of more than 5 years. Additionally, very senior citizens who are 80 years and above will get an interest rate of 80 basis points over the applicable card rate for all maturity periods.

On 19 May, Punjab National Bank (PNB) released its Q4FY23 results, revealing a net profit of Rs. 1,158 crore, up significantly by 474.7% YoY 201.6 crore in the same period last year. The net non-performing assets (NPAs) for the state-owned entity fell to 2.72 per cent in the January-March quarter or Q4FY23 as compared to 4.80 per cent in Q4FY22.