Good news for crores of PNB account holders! Bank increased its FD interest rates

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Punjab National Bank FD Rates: After the State Bank of India’s decision to increase FD rates, the country’s second largest public sector bank i.e. Punjab National Bank (PNB Hiked FD Rates) has also decided to increase its FD rates tomorrow. The bank has increased the Punjab National Bank FD Rates by 20 basis points on its fixed deposits of different tenors. These new rates have come into effect from August 17, 2022. The bank has decided to increase the interest on FDs of less than Rs 2 crore.

The bank is offering interest rates ranging from 3.00% to 5.75% for its general citizens on FDs of 7 days tenure to 10 years FDs. At the same time, the bank is offering an interest rate ranging from 3.50% to 6.25% for senior citizens. If you are also planning to do your FD Rates Increased in the bank, then we are giving you information about the latest interest rate-

This interest is available on FDs of less than Rs 2 crore

  • 7 days to 14 days – 3.00%
  • 15 days to 29 days – 3.00%
  • 30 days to 45 days – 3.00%
  • 46 days to 90 days – 3.00%
  • 91 days to 179 days – 4.50%
  • 180 days to 270 days – 4.50%
  • 180 days to 270 days – 4.50%
  • 271 days to less than 1 year – 4.50%
  • 1 year-5.50%
  • More than 1 year Less than 2 years – 5.50%
  • Between 2 to 3 years – 5.60%
  • Between 3 and 5 years – 5.75%
  • 5 to 10 years – 5.65%
  • 1111 day FD-5.75%

Banks are increasing their deposit rates
Significantly, in order to rein in the rising inflation in the country, the Reserve Bank has increased its repo rate a total of three times. This has a direct impact on the customer of the bank. The loans of most banks have become expensive. Due to this, the burden of EMI is increasing on the people. At present, the repo rate of RBI is 5.40%. Due to this many big banks of the country have increased their deposit rates like FD, savings bank account interest rates. Recently many banks like Kotak Mahindra Bank, Axis Bank, Indusland Bank ( IndusInd Bank, Indian Overseas Bank, State Bank of India (SBI FD Rates Hike), Canara Bank etc. have increased their FD interest rates.

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