The Punjab National Bank (PNB) has reduced the interest rate on its savings account for balances below Rs 10 lakh to 2.80 per cent per annum. The bank has also reduced the interest rates on savings account for balances above Rs 10 lakh to 2.85 per cent. The public sector bank has reduced the savings rate by 10 bps and 5 bps on accounts having less than Rs 10 lakh and more than Rs 10 lakh, respectively.
The revised domestic and NRI savings account interest is applicable from today, December 1, 2021, to both existing and new customers.
Domestic & NRI Saving Account Interest Rates from December 1, 2021 are as follows:
Saving Fund Account Balance below ₹10 Lakh -2.80 per cent p.a.
Saving Fund Account Balance of ₹10 Lakh & above - 2.85 per cent p.a.
PNB has also offered an interest rate ranging between 2.9 per cent and 5.25 per cent on fixed deposits maturing in the range of 7 days to 10 years. PNB is offering an interest rate of 2.9 per cent on 7-45 day fixed deposits, and it goes up 4.4 per cent on less than one year FDs.
On term deposits maturing in one year to up to two years, PNB gives 5.10 per cent interest. On deposits maturing above two years and up to 3 years, the bank gives 5.10 per cent.
PNB is offering 5.25 per cent interest on deposits maturing above five years to 10 years.
These rates are with effect from August 1, 2021.
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