PNB increases FD interest rates on these tenors: Check latest rates
Earlier, the bank had revised FD interest rates by up to 60 basis points on various tenors with effect from May 7, 2022. Here is the look at the latest PNB FD interest rates with effect from June 14, 2022.
The Punjab National Bank (PNB), a public sector bank, has raised fixed deposit (FD) interest rates on various tenors. The increase will be effective from June 14, 2022.
PNB latest FD interest rates PNB has increased the interest rate on one-year and two-year deposits to 5.20 percent, up from 5.10 percent earlier.
The bank will now offer a 5.30 percent interest rate on deposits with a maturity of more than 2 years and up to 3 years. PNB will now offer a 5.50 percent interest rate on deposits of more than 3 years and up to 5 years, up from 5.25 percent, representing a 25 basis point rise.
PNB will now pay 5.60 percent interest on deposits of 5 years or more and up to ten years, up from 5.25 percent. While other tenures remained unchanged.
Source: PNB website
Earlier, the bank had revised FD interest rates by up to 60 basis points on various tenors with effect from May 7, 2022.
On June 8, 2022, the Reserve Bank of India (RBI) raised repo rates by 50 basis points at its monetary policy meeting. In just over a month, the central bank has raised rates by a total of 90 basis points. In the coming few months, more banks are likely to raise FD rates, which is excellent news for FD investors.
Latest PNB FD interest rates after it raises FD rate on one tenor, cuts for another
