PNB hikes mounted deposit rates of interest for senior and tremendous senior residents

The public sector lender Punjab National Bank (PNB) has hiked its rate of interest on mounted deposits of lower than ₹2 Cr for senior residents and tremendous senior residents. As per the official web site of the financial institution, the brand new charges are efficient as of thirteenth September 2022. Senior residents and tremendous senior residents who discover mounted deposit investments engaging can now take the good thing about increased mounted deposit rates of interest of PNB the place the financial institution is now promising a most rate of interest of 6.60% for senior residents and 6.90% for tremendous senior residents.

PNB FD charges for senior residents

On mounted deposits of lower than ₹2 Cr maturing in 7 days to 45 days, the financial institution will proceed to supply an rate of interest of three.50% and on time period deposits maturing in 46 to 90 days, PNB will proceed to supply an rate of interest of three.75% for senior residents of age 60 years and as much as 80 years.

Fixed deposits maturing in 91 to 179 days will proceed to supply an rate of interest of 4.50% and time period deposits maturing in 180 days to lower than 1 yr will proceed to supply an rate of interest of 5% for senior residents. Senior residents will proceed to get an rate of interest of 6% on mounted deposits maturing in 1 yr to 404 days and they’re going to proceed to get an rate of interest of 6.60% on mounted deposits maturing in 405 days.

PNB will proceed to fetch an rate of interest of 6% and 6.10% on mounted deposits maturing in 406 days to 2 years and a pair of to three years. On mounted deposits maturing in 3 to five years, senior residents will proceed to get an rate of interest of 6.25% however on mounted deposits maturing in 5 to 10 years, PNB has hiked the rate of interest by 30 bps from 6.15% to six.45% for senior residents. They will proceed to get an rate of interest of 6.25% on mounted deposits maturing in 1111 days at PNB.

PNB FD charges for tremendous senior residents

PNB has raised rates of interest on mounted deposits throughout all tenors for tremendous senior residents. As a consequence of the adjustment, tremendous senior residents will now get an rate of interest that ranges from 3.80% to six.55% on mounted deposits that mature in 7 days to 1111 days, and they’re going to obtain a most rate of interest of 6.90% on mounted deposits that mature in 405 days.

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PNB FD charges for senior residents (pnbindia.in) PNB tax saving FD charges

Punjab National Bank has talked about on its web site that “In case of PNB Tax Saver Fixed deposit scheme, workers members in addition to retired workers members who’re additionally Senior Citizens, most price of curiosity to be allowed over relevant card price is 100 bps.”

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PNB tax saving FD charges (pnbindia.in)
PNB Uttam Fixed Deposit Rates

Additionally, the financial institution raised rates of interest on the non-callable PNB Uttam Fixed Deposit. For senior residents, the financial institution elevated the rate of interest on mounted deposits maturing in 5 to 10 years by 30 foundation factors, from 6.20% to six.50%, whereas for tremendous senior residents, PNB elevated the rate of interest on mounted deposits throughout all tenors. Super senior residents would obtain a most rate of interest of 6.95% on mounted deposits that mature in 405 days underneath the PNB Uttam Fixed Deposit plan.

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PNB Uttam Fixed Deposit Rates (pnbindia.in)

Punjab National Bank has stated on its web site that “The Senior residents of age 60 years and as much as 80 years shall get a further price of curiosity of fifty bps over relevant card charges for a interval as much as 5years and 80bps for a interval above 5 years on home deposits of lower than Rs. 2 Crore. In case of workers members in addition to retired workers members who’re additionally Senior Citizens, most price of curiosity to be allowed over relevant card price shall be 150 bps for a interval upto 5 years and 180bps for interval above 5 years. Further, Super Senior Citizens of age above 80 years shall get further price of curiosity of 80bps over relevant card price throughout all maturity buckets. In case of workers members in addition to retired workers members who’re additionally Super Senior Citizens, most price of curiosity to be allowed over relevant card price shall be 180 bps over relevant card price throughout all maturity buckets.”

“These revised additional rate of interest for senior citizen will be applicable to the fresh deposits and renewal of existing term deposits with effect from 13.09.2022,” stated PNB on its web site.

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