FD Interest Rate Hike: PNB & Canara Bank Revise Returns — See What You’ll Earn by Tenure from June 1, 2025

Revised FD Interest Rates: With effect from June 1, 2025, two state lenders – Punjab National Bank and Canara Bank has revised their interest rates on fixed deposits.

Two public sector lenders Canara Bank, and Punjab National Bank have altered their interest rates on fixed deposits with effect from June 1, 2025.

The interest rate range offered by Punjab National Bank falls in the badnwith of 3.50 per cent to 6.90 per cent across tenures for deposits that are below Rs 3 crore for general citizens. The senior citizens however entitled to receive an extra 50 basis (bps) point.

On a tenure between 7-45 days, the bank will lends at 3.5 per cent annually. In a period falling between 46 to 90 days, the state lender offers 4,5 per cent per annum. If the tenure falls between  91 days to 179 days, the banks lends at 5,50 per cent.

Durng a tenure anywhere between 180-270 days, the interest applicable is 6 per cent annually. If the span lies between 271 to 302 day, the Punjab Naional Bank offers 6,15 per cent per annum. The tenure that falls beyond 304 days to less than a year, the interest rate is 6.25 per cent. The interest rate applicable within a year is 6.70 per cent.

Canara Bank Revised FD Interest Rates

Canara Bank offers interest in the range of 4 percent to 7 percent per annum to general citizens across tenures. And senior citizens are entitled to receive an extra 50 basis points. The new rates came into effect on June 1. The state lender has cut the FD interest rate on 1-year tenure by 10 basis points (bps) from 6.85 percent to 6.75 percent. On FDs with tenure between 3 to 5 years, the interest rate has been cut by 25 bps from 7 per cent to 6.75 per cent.

The bank offers the highest interest of 7 percent on 444-day tenure. Between 1-2 years, the bank offers 6.85 percent. For tenure between 2-3 years, the bank offers 6.9 percent and for tenure between 3-5 years, the bank offers 6.75 percent. And for the maximum tenure (5-10 years), the interest rate stands at 6.70 percent.