PNB, SBI hike interest rates for FDs less than Rs 2 cr; details here
PNB has hiked interest rates for fixed deposits for one to ten years amounting to less than Rs 2 crore, whereas SBI has also hiked interest rates on FDs across select tenures. Check latest interest rates here.
- Jun 14, 2022,
- Updated Jun 14, 2022 12:26 PM IST
Public lender Punjab National Bank (PNB) has hiked interest rates for fixed deposits for one to ten years amounting to less than Rs 2 crore, as per its website. For the general public, interest rates for FDs lasting one year and for those lasting more than a year and up to two years have been raised to 5.20 per cent.
PNB hiked interest rates for FDs from more than two years to up to three years to 5.30 per cent whereas interest rates for FDs lasting more than three years to five years were hiked to 5.50 per cent.
Interest rates for FDs lasting 5 to 10 years were hiked to 5.60 per cent. The public lender has rolled out a new tenure of 1,111 days were hiked to 5.50 per cent.
The website read, “The revised interest rates will be applicable to fresh deposits and renewal of existing deposits with effect from 14.06.2022.” It further stated that interest rates for FDs amounting Rs 2 crore to Rs 10 crore will not be loaded with additional interest rate for senior citizens and staff accounts among others.
In case of senior citizens, the bank provides an interest rate of 5.70 per cent for FDs maturing in a year and those maturing in more than a year to up to two years.
PNB provides an interest rate of 5.80 per cent for FDs maturing in more than two years to up to three years and an interest rate of 6 per cent for FDs maturing in more than three years to up to five years.
The public lender provides interest rate of 6.10 per cent on FDs maturing five to ten years and an interest rate of 6 per cent for FDs maturing in the new tenure of 1,111 days.
Interest rates for FDs maturing in 7-14 days, 15-29 days, 30-45 days, 91-179 days, 180-270 days and 271 days to less than a year continue to remain unchanged. PNB provides interest rate of 3 per cent for general public and 3.50 per cent for senior citizens on FDs maturing in 7-14 days, 15-29 days and 30-45 days.
As of now, PNB provides an interest rate of 3.25 per cent to general public and 3.75 per cent to senior citizens on FDs maturing in 46-90 days. While the bank provides an interest rate of 4 per cent to general public and 4.50 per cent to senior citizens on FDs maturing in 91-179 days, it provides an interest rate of 4.50 per cent to general public and 5 per cent to senior citizens on deposits maturing in 180-270 days and 271 days to less than a year.
Meanwhile, the State Bank of India (SBI) has also hiked interest rates for fixed deposits amounting to less than Rs 2 crore across select tenures by 15-20 basis points. SBI has hiked interest rates for FDs maturing in 211 days to less than one year from 4.40 per cent to 4.60 per cent.
Interest rate for FDs maturing in a year to less than two years stands at 5.30 per cent whereas the interest rate for FDs maturing in two to three years stand at 5.35 per cent. These changes will come into effect from today.
Public lender Punjab National Bank (PNB) has hiked interest rates for fixed deposits for one to ten years amounting to less than Rs 2 crore, as per its website. For the general public, interest rates for FDs lasting one year and for those lasting more than a year and up to two years have been raised to 5.20 per cent.
PNB hiked interest rates for FDs from more than two years to up to three years to 5.30 per cent whereas interest rates for FDs lasting more than three years to five years were hiked to 5.50 per cent.
Interest rates for FDs lasting 5 to 10 years were hiked to 5.60 per cent. The public lender has rolled out a new tenure of 1,111 days were hiked to 5.50 per cent.
The website read, “The revised interest rates will be applicable to fresh deposits and renewal of existing deposits with effect from 14.06.2022.” It further stated that interest rates for FDs amounting Rs 2 crore to Rs 10 crore will not be loaded with additional interest rate for senior citizens and staff accounts among others.
In case of senior citizens, the bank provides an interest rate of 5.70 per cent for FDs maturing in a year and those maturing in more than a year to up to two years.
PNB provides an interest rate of 5.80 per cent for FDs maturing in more than two years to up to three years and an interest rate of 6 per cent for FDs maturing in more than three years to up to five years.
The public lender provides interest rate of 6.10 per cent on FDs maturing five to ten years and an interest rate of 6 per cent for FDs maturing in the new tenure of 1,111 days.
Interest rates for FDs maturing in 7-14 days, 15-29 days, 30-45 days, 91-179 days, 180-270 days and 271 days to less than a year continue to remain unchanged. PNB provides interest rate of 3 per cent for general public and 3.50 per cent for senior citizens on FDs maturing in 7-14 days, 15-29 days and 30-45 days.
As of now, PNB provides an interest rate of 3.25 per cent to general public and 3.75 per cent to senior citizens on FDs maturing in 46-90 days. While the bank provides an interest rate of 4 per cent to general public and 4.50 per cent to senior citizens on FDs maturing in 91-179 days, it provides an interest rate of 4.50 per cent to general public and 5 per cent to senior citizens on deposits maturing in 180-270 days and 271 days to less than a year.
Meanwhile, the State Bank of India (SBI) has also hiked interest rates for fixed deposits amounting to less than Rs 2 crore across select tenures by 15-20 basis points. SBI has hiked interest rates for FDs maturing in 211 days to less than one year from 4.40 per cent to 4.60 per cent.
Interest rate for FDs maturing in a year to less than two years stands at 5.30 per cent whereas the interest rate for FDs maturing in two to three years stand at 5.35 per cent. These changes will come into effect from today.