Punjab National Bank Fixed Deposit Rates
Punjab National Bank is a leading public-sector bank offering fixed deposit products to customers at varying tenors and competitive rates. Interest rates on fixed deposits, however, are prone to changes in line with market rates. This can make it difficult for potential customers to ascertain maturity amounts and plan investments. To alleviate this, the above table captures all changes made to the banks FD rates. This not only lets customers track holdings but also make real-time comparisons.
PNB Short-Term FD Rates
The interest rate stands at 5.0% on a 30-day deposit. This is a reasonable return for those with near-term liquidity requirements. For schemes with tenors of 60 and 90 days, the rate stands at 6.5% which is enhanced by 0.5% for a tenor of 120 days (at 7%) and by 1.25% for a tenor of 9 months at 7.75%. For deposit periods of 180 days, rates have been further reduced to 7.50% i.e. a 0.25% reduction.
PNB Medium and Long -Term FD Rates
Interest rates on PNB’s fixed deposits for holdings of 1 year and above (up to 5 years) which were constant at 8.50% as of Apr.23rd 2015 have seen changes. Deposits held for 1 to 2 years are reduced by 0.15% while deposits held for 2 to 5 years will see a drop in rates to 8%. For tenures above 5 years, the rate holds steady at 8.5%.
PNB Senior Citizen FD Rates
An increment of 0.5% is offered on all existing FD rates, across tenors, for senior citizens.
PNBs FD rates are comparable to its peers making them attractive investment options for safe and assured returns.
Deposit rate changes are an outcome of RBI cuts in repo rates which has led PNB and many other banks to reduce their base rates.
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