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PNB revises fixed deposit interest rates; check out latest rates

Senior citizens shall get an additional 50 bps interest rate across all tenors.

twitter-logoBusinessToday.In | May 13, 2021 | Updated 12:38 IST
Senior citizens shall get an additional 50 bps interest rate across all tenors.
Senior citizens shall get an additional 50 bps interest rate across all tenors.

Punjab National Bank has revised interest rates on fixed deposits on selected tenors with effect on May 1, 2021. The bank offers interest rates on deposits maturing in 7 days to 10 years. For the general category depositors, PNB FDs between 7 days to 45 days will now offer 3% interest. The bank is offering an interest rate of 3.25% on 46-90 day fixed deposits and term deposits between 91 days to 179 days will give 4%. FDs between 180 days to 270 days will give 4.4% and it goes up 4.5% on less than 1 year FDs. Deposits with maturity between 1 year and up to less than 3 years will fetch an interest rate of 5.10%. FDs with 3 years to less than 10 years will give 5.25%. The interest is applicable on deposit of up to Rs 2 crore.

The new and revised interest rates for general category depositors are:

    3% for 7 days to 14 days

    3% for 15 days to 29 days

    3% for 30 days to 45 days

    3.25% for 46 days to 90 days

    4% for 91 days to 179 days

    4.4% for 180 days to 270 days

    4.5% for 271 days to 1 year

    5.10% for 1 year

    5.10% for Above 1 year to 2 years

    5.10% for Above 2 years to 3 years

    5.25% for Above 3 years to 5 years

    5.25% for Above 5 years to 10 years

Senior citizens shall get an additional 50 bps interest rate across all tenors. After the latest revision, the interest rates for senior citizens range from 3.5% for 7 days of maturity to 5.75% for 10 years. The interest rates are applicable on deposit of up to Rs 2 crore.

    3.5% for 7 days to 14 days

    3.5% for 15 days to 29 days

    3.5% for 30 days to 45 days

    3.75% for 46 days to 90 days

    4.5% for 91 days to 179 days

    4.9% for 180 days to 270 days

    5% for 271 days to 1 year

    5.60% for 1 year

    5.60% for Above 1 year to 2 years

    5.60% for Above 2 years to 3 years

    5.75% for Above 3 years to 5 years

    5.75% for Above 5 years to 10 years

Apart from PNB, other lendors including Axis Bank, IDFC First Bank, Kotak Mahindra, and Yes Bank have also revised interest on their term deposits this month. Axis Bank has revised fixed deposit interest rates with effect from May 6,2021. The bank offers a higher rate to senior citizens on select maturities. Senior citizens will get an interest rate ranging from 2.5% to 6.50% on deposits maturing in 7 days to 10 years.

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