Punjab National Bank new FD interest rates for 2024 - Details here

Punjab National Bank (PNB) has kicked off the new year with exciting news for its customers. Effective from January 1, 2024, PNB has made adjustments to its Fixed Deposit (FD) interest rates, providing a mix of increases and decreases. Here's a detailed breakdown of the new rates.

Key Highlights:

Interest Rate Hike:

• PNB has raised the interest on FD by 45 basis points, translating to a 0.45 percent increase.
• The revised rates cover FDs ranging from 7 days to 10 years for common citizens.
• Interest rates now range from 3.50% to 7.25%.

Specific Changes:

General Public FD Rates:

• 180 days to 270 days: Increased from 5.50% to 6%.
• 271 days to less than 1 year: Increased from 5.80% to 6.25%.
• 400 days: Increased from 6.80% to 7.25%.
• 444 days: Reduced by 0.45% to 6.80%.

FD Rates for Amounts Less than Rs 2 Crore:

• 7 days to 14 days: 3.50% (General), 4.00% (Senior Citizens).
• 15 days to 29 days: 3.50% (General), 4.00% (Senior Citizens).
• 30 days to 45 days: 3.50% (General), 4.00% (Senior Citizens).
• 46 days to 90 days: 4.50% (General), 5.00% (Senior Citizens).
• 91 days to 179 days: 4.50% (General), 5.00% (Senior Citizens).

Interest Rates for Different Durations:

• 180 days to 270 days: 5.50% (General), 6.00% (Senior Citizens).
• 271 days to less than 1 year: 5.80% (General), 6.30% (Senior Citizens).
• 1 year: 6.75% (General), 7.25% (Senior Citizens).
• More than 1 year to 443 days: 6.80% (General), 7.30% (Senior Citizens).
• 444 days: 6.80% (General), 7.30% (Senior Citizens).
• 445 to 2 years: 6.80% (General), 7.30% (Senior Citizens).
• More than 2 years to 3 years: 7.00% (General), 7.50% (Senior Citizens).
• More than 3 years to 5 years: 6.50% (General), 7.00% (Senior Citizens).
• 5 years to 10 years: 6.50% (General), 7.30% (Senior Citizens).

PNB's decision to adjust FD interest rates reflects a strategic move to cater to the financial needs of its customers. While some rates have been increased, careful consideration must be given to the revised rates before making any investment decisions. Stay tuned for more updates on PNB and the financial market.

Note: The information provided here is based on the latest available data and is subject to change.