PNB reduces FD interest rate on this tenure

Punjab National Bank (PNB) in a surprising move has reduced fixed deposit interest rate on single tenure for amounts below Rs 2 crore, according to the PNB website. The new rates are effective from June 1, 2023.

Last month, PNB had increased interest rates of select fixed deposits (FDs) on certain tenures and had reduced rates on certain tenures.

Punjab National Bank latest FD rates

For general citizens, PNB offers FD interest rates between 3.05% to 7.25% for tenure ranging between 7 days to 10 years. The highest interest rate of 7.25% is offered on tenure of 444 days.


For deposits maturing in 1 year, the bank has cut the interest rate by 5 bps from 6.80% to 6.75% for regular citizens. Last month, the bank decreased the interest rate on FDs maturing in 666 days to 7.05% from 7.25%.

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. The highest interest rate of 7.75% is offered on tenure of 444 days.

The bank decreased the interest rate by 5 bps on deposits maturing in 1 year to 7.75% from 7.25% from 7.30% for senior citizens.
Last month, the bank decreased the interest rate on FDs maturing in 666 days to 7.55% from 7.75%.

Punjab National Bank latest FD rates for super senior citizen
For super senior citizens, PNB offers FD interest rates between 4.30% to 8.05% for tenure ranging between 7 days to 10 years. The highest interest rate of 8.05% is offered on tenure of 444 days.

For deposits maturing in 1 year, the bank has cut the interest rate by 5 bps to 7.55% from 7.60% for super senior citizens.
Last month, the bank decreased the interest rate on FDs maturing in 666 days to 7.85% from 8.05%.

Latest PNB FD rates

Domestic/NRO Fixed Deposit Scheme
Sl. No	Period	Existing Rates For Public W.E.F. 18.05.2023	Revised Rates For Public W.E.F. 01.06.2023	*Existing Rates For Senior Citizens W.E.F. 18.05.2023	*Revised Rates For Senior Citizens W.E.F. 01.06.2023	#Existing Rates For Super Senior Citizens W.E.F. 18.05.2023	#Revised Rates For Super Senior Citizens W.E.F. 01.06.2023
1	7 to 14 days	3.5	3.5	4	4	4.3	4.3
2	15 to 29days	3.5	3.5	4	4	4.3	4.3
3	30 to 45 days	3.5	3.5	4	4	4.3	4.3
4	46 to 90 days	4.5	4.5	5	5	5.3	5.3
5	91 to 179 days	4.5	4.5	5	5	5.3	5.3
6	180 days to 270 Days	5.5	5.5	6	6	6.3	6.3
7	271 days to less than 1 year	5.8	5.8	6.3	6.3	6.6	6.6
8	1 year	6.8	6.75	7.3	7.25	7.6	7.55
9	above 1 year to 443 days	6.8	6.8	7.3	7.3	7.6	7.6
10	444 days	7.25	7.25	7.75	7.75	8.05	8.05
11	445 days to 665 days	6.8	6.8	7.3	7.3	7.6	7.6
12	666 days	7.05	7.05	7.55	7.55	7.85	7.85
13	667 days to 2 years	6.8	6.8	7.3	7.3	7.6	7.6
14	above 2 year & upto 3 years	7	7	7.5	7.5	7.8	7.8
15	above 3 year & upto 5 years	6.5	6.5	7	7	7.3	7.3
16	above 5 years & upto 10 years	6.5	6.5	7.3	7.3	7.3	7.3

Source: Bank website