Bank FD rate hike: Second time in a month PNB raises fixed deposit rates: Check latest interest rates
Punjab National Bank(PNB)has hiked fixed deposit (FD) interest rates on amounts below ₹2 crore for the second time this month. Earlier the bank had hiked rates with effect from January 1, now the PSU lender has again increased rates on select term deposits with effect from January 8.
This time, the bank increased rates by 80 basis points (bps) on a single tenure. On January 1, the bank increased up to 45 basis points (bps) on certain tenures and slashed rates on some.
On deposits maturing in 300 Days, PNB has hiked rates to 7.05% from 6.25%.
After the revision, PNB offers general citizens 3.5% to 7.25%on deposits maturing in 7 days to ten years.
7 to 14 Days 3.50%
15 to 29 Days 3.50%
30 to 45 Days 3.50%
46 to 60 Days 4.50%
61 to 90 Days 4.50%
91 to 179 Days 4.50%
180 to 270 Days 6.00%
271 Days to 299 Days 6.25%
300 Days 7.05%
301 Days to < 1 Year 6.25%
1 Year 6.75%
>1 Year to 399 days 6.80%
400 Days 7.25%
401 Days to 2 Years 6.80%
above 2 years & up to 3 years 7.00%
above 3 years & upto 5 years 6.50%
above 5 years & upto 10 years 6.50%
After the latest revision, PNB offers an interest rate ranging from 4% to 7.75% on FDs maturing in seven days to ten years, and 4.3% to 8.05% to super seniors.
On January 2, state-owned Punjab National Bank said it had posted a 13.5 per cent growth in advances to ₹9.72 lakh crore for the December quarter. Total advances stood at ₹8.56 lakh crore at the end of the third quarter of the last financial year, PNB said in a regulatory filing.
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