This public sector bank cuts interest rates on fixed deposits. Check latest FD rates here
1 min read 02 Jun 2023, 09:34 AM ISTPNB has lowered fixed deposit interest rates on single tenure by 5 basis points, effective June 1, 2023. The bank has also increased its MCLR rates by 10 bps on all tenures
PremiumPunjab National Bank (PNB) has revised its interest rates on fixed deposits of less than ₹2 crore. In a surprising move, the lender has reduced fixed deposit interest rates on single tenure, according to the PNB website. The new rates are effective from June 1, 2023. The bank has cut the interest rate on one-year deposits by 5 basis points (bps). These deposits will now fetch an interest rate of 6.75%
Punjab National Bank latest FD rates for general customers
For general citizens, PNB offers FD interest rates between 3.50% to 7.25% for tenure ranging between 7 days to 10 years.
Punjab National Bank latest FD rates for senior citizens
For senior citizens, PNB offers FD interest rates between 4% to 7.75% for tenure ranging between 7 days to 10 years.
Punjab National Bank latest FD rates for super senior citizens
For super senior citizens, PNB offers FD interest rates between 4.30% to 8.05% for tenure ranging between 7 days to 10 years.
Punjab National Bank latest FD rates (below ₹2 crore) effective 1 June
7 to 14 days 3.50
15 to 29days 3.50
30 to 45 days 3.50
46 to 90 days 4.50
91 to 179 days 4.50
180 days to 270 Days 5.50
271 days to less than 1 year 5.80
1 year 6.75
above 1 year to 443 days 6.80
444 days 7.25
445 days to 665 days 6.80
666 days 7.05
667 days to 2 years 6.80
above 2 year & upto 3 years 7.00
above 3 year & upto 5 years 6.50
above 5 years & upto 10 years 6.50
PNB hikes MCLR rates
Punjab National Bank has hiked its marginal cost of lending rates (MCLR) by 10 bps on all tenures. The new interest rates are effective from June 1, 2023.
As per the PNB website, the bank’s overnight benchmark marginal cost of lending has been increased to 8.10 per The rates for one month, three months, and six months have been hiked to 8.20 per cent, 8.30 per cent, and 8.50 per cent, respectively. The one-year MCLR is increased to 8.60 per cent, while the three-year MCLR has been hiked to 8.90 per cent.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
