Punjab National Bank (PNB) on Tuesday increased the interest rate of fixed deposits across various tenures by 50 basis points or 0.5 percent in a bid to attract deposits.
Live TV
Loading...
Interest rates on term deposits below Rs 2 crore between one year and three years have been raised by 50 basis points to 6.75 percent from earlier rate of 6.25 percent, PNB said in a statement.
The bank said that new rates of FDs are effective from January 1, 2023.
Also read: India's former chief economic advisor decodes why central bank measures to stimulate economy fail
It has also said that senior citizens will be getting an additional 50 basis points hike in interest rate of fixed deposits on any domestic deposit maturities which is worth less than Rs 2 crore.
On PNB Uttam Scheme with no premature withdrawal option, the rate has been revised to 6.80 percent from 6.30 percent, it said.
Apart from the revised interest rates, it said, the bank will continue to offer attractive interest rates 8.1 per annum for fixed deposit of 666 days.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM