PNB hikes FD interest rates by up to 30 bps; check latest fixed deposit rates

Punjab National Bank (PNB) has increased interest rates of select fixed deposits (FDs) tenures by up to 30 basis points (bps). The new interest rates will be applicable for fixed deposits of less than Rs 2 crore. The increased interest rates on the FDs are effective from February 20, 2023, according to the PNB website.

PNB fixed deposit interest rates
The interest rate hike ranges between 5 and 30 bps. For deposits maturing between 271 days and less than 1 year, the bank has hiked the interest rate by 30 bps to 5.80% from 5.50% for regular citizens. FDs maturing between one year and 665 days, will be increased by 5 bps to 6.80%. Similarly, deposits maturing between 667 days and 2 years will earn an interest rate of 6.80 %, a 5 bps hike from the earlier interest rate.


Punjab National Bank has increased FD rates by 25 bps for deposits maturing between two years and three years to 7% from 6.75%.

Also read: Latest Bank Fixed Deposit (FD) Interest Rates in India for 2023

PNB FD interest rate for senior citizens
For senior citizens with tenures ranging from 271 days to less than one year, the bank has increased the interest rate by 30 basis points to 6% from 6.30%. The bank has raised the interest rate on deposits maturing between one year and 665 days by 5 basis points to 7.30%. The interest rate of deposits maturing between 667 days and 2 years has been hiked by 5 basis points to 7.30%.

PNB has raised the interest rate of fixed deposits maturing between two years and three years to 7.50% from 7.25%.

PNB FD interest rate for super senior citizens
The bank has increased the interest rate for super senior citizens with tenures ranging from 271 days to less than one year by 30 basis points, to 6.30% from 6.60%. The bank increased the one-year to 665 days and 667 days to two-year tenure rates by 5 basis points to 7.60%.

For fixed deposits ranging between more than two years and up to three years, Punjab National Bank has increased the interest rate to 7.80% from 7.55%.

It should be noted that senior citizens are people aged 60 to 80 years old, whereas super senior citizens are people aged 80 and up.

Period	Rates For Public W.E.F. 20.02.2023	Rates For Senior Citizens W.E.F. 20.02.2023	Rates For Super Senior Citizens W.E.F. 20.02.2023
7 to 14 days	3.5	4	4.3
15 to 29days	3.5	4	4.3
30 to 45 days	3.5	4	4.3
46 to 90 days	4.5	5	5.3
91 to 179 days	4.5	5	5.3
180 days to 270 Days	5.5	6	6.3
271 days to less than 1 year	5.8	6.3	6.6
1 year	6.8	7.3	7.6
above 1 year to 665 days	6.8	7.3	7.6
666 days	7.25	7.75	8.05
667 days to 2 years	6.8	7.3	7.6
above 2 year & upto 3 years	7	7.5	7.8
above 3 year & upto 5 years	6.5	7	7.3
above 5 years & upto 10 years	6.5	7.3	7.3