PNB FD interest rates: Punjab National Bank (PNB) has changed its fixed deposit (FD) interest rates for deposits under Rs 2 crore. According to the bank’s website, the revised rates are effective from April 12, 2024. As per an ET report, here are the latest FD rates for different customer categories:
New fixed deposit rates for regular citizens
The updated rates for fixed deposits (FDs) for regular citizens range from 3.50% to 7.25%, depending on the deposit term.
These rates represent a slight decrease from previous levels, reflecting a reduction of up to 15 basis points (bps) for some terms.
PNB FD rates for general citizens
| Sl. No | Period | Existing Rates For Public W.E.F. 08.01.2024 | Revised Rates For Public W.E.F. 12.04.2024 |
| 1 | 7 to 14 Days | 3.5 | 3.5 |
| 2 | 15 to 29 Days | 3.5 | 3.5 |
| 3 | 30 to 45 Days | 3.5 | 3.5 |
| 4 | 46 to 60 Days | 4.5 | 4.5 |
| 5 | 61 to 90 Days | 4.5 | 4.5 |
| 6 | 91 to 179 Days | 4.5 | 4.5 |
| 7 | 180 to 270 Days | 6 | 6 |
| 8 | 271 Days to 299 Days | 6.25 | 6.25 |
| 9 | 300 Days | 6.25 | 7.05 |
| 10 | 301 Days to 1 Year | 6.25 | 6.25 |
| 11 | 1 Year | 6.75 | 6.75 |
| 12 | > 1 Year to 399 days | 6.8 | 6.8 |
| 13 | 400 Days | 7.25 | 7.25 |
| 14 | 401 Days to 2 Years | 6.8 | 6.8 |
| 15 | > 2 years to 3 years | 7 | 7 |
| 16 | > 3 years to 1203 days | 6.5 | 6.5 |
| 17 | 1204 days** | 6.5 | 6.4 |
| 18 | 1205 days to 5 years | 6.5 | 6.5 |
| 19 | > 5 years to 1894 days | 6.5 | 6.5 |
| 20 | 1895 days** | 6.5 | 6.35 |
| 21 | 1896 days to 10 years | 6.5 | 6.5 |
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FD interest rate for senior citizens
| Sl. No | Period | *Existing Rates For Senior Citizens W.E.F. 08.01.2024 | *Revised Rates For Senior Citizens W.E.F. 12.04.2024 |
| 1 | 7 to 14 Days | 4 | 4 |
| 2 | 15 to 29 Days | 4 | 4 |
| 3 | 30 to 45 Days | 4 | 4 |
| 4 | 46 to 60 Days | 5 | 5 |
| 5 | 61 to 90 Days | 5 | 5 |
| 6 | 91 to 179 Days | 5 | 5 |
| 7 | 180 to 270 Days | 6.5 | 6.5 |
| 8 | 271 Days to 299 Days | 6.75 | 6.75 |
| 9 | 300 Days | 6.75 | 7.55 |
| 10 | 301 Days to 1 Year | 6.75 | 6.75 |
| 11 | 1 Year | 7.25 | 7.25 |
| 12 | > 1 Year to 399 days | 7.3 | 7.3 |
| 13 | 400 Days | 7.75 | 7.75 |
| 14 | 401 Days to 2 Years | 7.3 | 7.3 |
| 15 | > 2 years to 3 years | 7.5 | 7.5 |
| 16 | > 3 years to 1203 days | 7 | 7 |
| 17 | 1204 days** | 7 | 6.9 |
| 18 | 1205 days to 5 years | 7 | 7 |
| 19 | > 5 years to 1894 days | 7.3 | 7.3 |
| 20 | 1895 days** | 7.3 | 7.15 |
| 21 | 1896 days to 10 years | 7.3 | 7.3 |
FD interest rate for super senior citizens
| Sl. No | Period | #Existing Rates For Super Senior Citizens W.E.F. 08.01.2024 | #Revised Rates For Super Senior Citizens W.E.F. 12.04.2024 |
| 1 | 7 to 14 Days | 4.3 | 4.3 |
| 2 | 15 to 29 Days | 4.3 | 4.3 |
| 3 | 30 to 45 Days | 4.3 | 4.3 |
| 4 | 46 to 60 Days | 5.3 | 5.3 |
| 5 | 61 to 90 Days | 5.3 | 5.3 |
| 6 | 91 to 179 Days | 5.3 | 5.3 |
| 7 | 180 to 270 Days | 6.8 | 6.8 |
| 8 | 271 Days to 299 Days | 7.05 | 7.05 |
| 9 | 300 Days | 7.05 | 7.85 |
| 10 | 301 Days to 1 Year | 7.05 | 7.05 |
| 11 | 1 Year | 7.55 | 7.55 |
| 12 | > 1 Year to 399 days | 7.6 | 7.6 |
| 13 | 400 Days | 8.05 | 8.05 |
| 14 | 401 Days to 2 Years | 7.6 | 7.6 |
| 15 | > 2 years to 3 years | 7.8 | 7.8 |
| 16 | > 3 years to 1203 days | 7.3 | 7.3 |
| 17 | 1204 days** | 7.3 | 7.2 |
| 18 | 1205 days to 5 years | 7.3 | 7.3 |
| 19 | > 5 years to 1894 days | 7.3 | 7.3 |
| 20 | 1895 days** | 7.3 | 7.15 |
| 21 | 1896 days to 10 years | 7.3 | 7.3 |
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Special rates for senior citizens
Senior citizens, defined as those between 60 and 80 years of age, receive interest rates ranging from 4% to 7.75%. Meanwhile, super senior citizens (those aged 80 and above) are offered rates from 4.30% to 8.05%.
Notable FD schemes
PNB has two specific FD schemes designed to commemorate the bank’s foundation day, the PNB Palaash scheme. The 1204-day term rate has been reduced by 10 bps, and the 1895-day term has been reduced by 15 bps.
Important consideration
It’s important to note that the additional interest rate benefit for senior citizens does not apply to Non-Resident Ordinary (NRO) deposits.
