The PNB has decreased the interest rates by up to 0.50 percentage point on select maturities, according to the public sector bank's website -- pnbindia.in.

Making a premature withdrawal from your fixed deposit may seem to be the best option when you need quick funding for a short period, be it to pay for an unplanned medical treatment or undertake urgent home repair work. However, a premature withdrawal has certain negative consequences, due to which most financial experts advise against it.

Following the footsteps of the State Bank of India, Axis Bank has also increased its Fixed Deposit rates which will come to effect from June 1, 2018.