PNB revises savings bank account, fixed deposit rates. Latest FD rates here

Public sector lender Punjab National Bank or PNB has revised interest rates on savings account deposits and fixed deposits or FDs with effect from September 1. According to PNB's latest revision, savings account with balance up to ₹5 lakh will fetch 3.25% per annum, while savings accounts with balance more than ₹5 lakh to ₹50 lakh and savings account with balance above ₹50 lakh 3.80%. Many banks have been revising their fixed deposit rates after the Reserve Bank last month cut repo rate by 35 basis points, the fourth rate by the central bank this year. PNB offers 50-basis-point higher interest rates to senior citizens as compared to general public on fixed deposits.

PNB latest FD rates from 7 days to 1 year (less than ₹2 crore)

PNB is offering interest rate of 4.5% on 7-45 day fixed deposits and it goes up 5.5% on 46 to 179 day FDs. On 180 days to 270 days FDs, PNB is paying 6%, 271 days to less than 1 year 6.25%, 333 days 6.30% and 1 year 6.6%.

7 to 14 days 4.50%

15 to 29 days 4.50%

30 to 45 days 4.50%

46 to 90 days 5.50%

91 to 179 days 5.50%

180 days to 270 Days 6.00%

271 days to less than 1 year 6.25%

333 days 6.30%

1 year 6.60%

PNB latest FD rates from 444 days to 3 years

PNB is offering 6.6% on 444-day and 555-day maturity FDs. On 1 year to 3 years, PNB is offering 6.5%.

444 days 6.60%

555 days 6.60%

above 1 year & up to 3 years 6.50%

PNB latest FD rates from 3 years to 10 years

On FDs between 3 years and up to 10 years, PNB is offering 6.5% interest.

above 3 year & up to 5 years 6.50%

above 5 years & up to 10 years 6.50%

PNB latest FD rates for senior citizens

PNB latest FD rates for senior citizens

7 to 14 days 5%

15 to 29 days 5%

30 to 45 days 5%

46 to 90 days 6%

91 to 179 days 6%

180 days to 270 Days 6.5%

271 days to less than 1 year 6.75%

333 days 6.80%

1 year 7.10%

444 days 7.10%

555 days 7.10%

above 1 year & up to 3 years 7%

above 3 year & up to 5 years 7%

above 5 years & up to 10 years 7%

The government last week four new sets of mergers in the public sector banking arena. PNB, Oriental Bank of Commerce and United Bank of India will combine to form the nation's second-largest lender.