Pnb Fd Interest Rates: PNB hikes FD interest rates by up to 30 bps on these tenures for senior citizens, super seniors

Punjab National Bank has increased fixed deposit interest rates for one particular tenure for senior citizens and on all tenures for super senior citizens. The interest rates have been hiked by up to 30 bps for FD amounts up to Rs 2 crore, according to the PNB website. The new interest rates are effective from September 13, 2022.

According to the bank’s website, senior citizens would receive an additional 50 basis points over the applicable card rates for any domestic deposit maturities of less than Rs 2 crore.

The bank increased the FD interest rate for senior citizens by 30 basis points (bps) to 6.45% from 6.15% for the 5-10 year tenure.

According to the website, “The Senior citizens of age 60 years and up to 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5years and 80bps for a period above 5 years on domestic deposits of less than Rs. 2 Crore. In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 150 bps for a period upto 5 years and 180bps for period above 5 years.”

“Further, Super Senior Citizens of age above 80 years shall get additional rate of interest of 80bps over applicable card rate across all maturity buckets. In case of staff members as well as retired staff members who are also Super Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 180 bps over applicable card rate across all maturity buckets,” as per the website.