PNB new interest rates on Fixed Deposits, effective from January 1, 2018
New Delhi : Punjab National Bank has increased their term deposit/fixed deposit interest rates by up to 1.25 percent for different maturity tenures. The new interest rates will be effective from January 1, 2018.
FOR DOMESTIC TERM DEPOSITS LESS THAN RS 1 CRORE
For short-term deposit of less than 30 days, the PNB will now give you 5.25% instead of old 4%. For tenure of 30-45 days, the interest rates have been revised from 4.50% to 5.25%.
For the tenure of 46 to 90 days, the interest would be up from 5.50% to 6.25%. In the maturity bucket of 91 to 179 days, the rate is up from 6 to 6.25%.
FOR DOMESTIC TERM DEPOSIT OVER RS 1 CRORE, BUT LESS THAN 10 CRORES
For short-term deposits of less than 45 days, the bank will give 4.8% interest instead of old 4%. Similarly, for 46 to 179 days, the rate is increased from 4% to 4.90%. In the maturity bucket of 180 days to less than one year, the rate went up from 4.25% to 5%.
For 1-year term, PNB has increased the rate from 5% to 5.7% on bulk term deposits.
For the maturity term of more than 1 year to 3 years, the rate would be up from 5% to 5.5%.
In the maturity buckets of 3 years to 10 years, the rate has been increased from 5% to 5.25% from Monday.