Punjab National Bank (PNB), India’s leading public sector bank, has revised its fixed deposit (FD) rates for general and senior citizens both, effective August 1, 2024. The revision in rates has been effected on FDs of up to Rs 3 crore.
The public sector bank is offering its highest offering on FDs of 400-day tenure. General subscribers going for an FD of 400 days will get a rate of 7.3%, senior citizens (above 60 years but less than 80 years of age) will be offered 7.8% and super senior citizens (above 80 years of age) will be provided 8.10%.
The bank’s lowest tenure FD is of 91-179 days, fetching starting rate of 4.555 for general subscribers, followed by 5.05% for senior citizens and 5.35% for super senior citizens. On its 1-year FDs, the bank is offering 6.85% interest rate to general subscribers, 7.35% to senior citizens and 7.65% to super senior citizens.
On fixed deposits of tenors of 2-3 years, PNB offers rates up to 7.85%. The PSU lender is offering 7.05% interest rate to general subscriber, 7.55% to senior citizens and 7.85% to super senior citizens.
PNB Palaash scheme FD rates
Two buckets of 1204 days & 1895 days have been specifically identified under the PNB Palaash scheme, to commemorate our Banks’s foundation day, i.e. 12th of April, 1895.
FDs of 1204-days tenor, the bank offers an interest rate of 6.45% to non-seniors, 6.95% to senior citizens and 7.25% to super senior citizens.
While its another Palaash scheme FD of 1895 days fetches slightly lower rates, with general subscribers getting 6.40%, senior citizens 7.2% and super senior citizens 7.25.
| Domestic/NRO $ Fixed Deposit Scheme | |||||||
|---|---|---|---|---|---|---|---|
| Sl. No | Period | Revised Rates For Public w.e.f. 01.08.2024 | *Revised Rates for Senior Citizens w.e.f. 01.08.2024 | #Revised Rates for Super Senior Citizens w.e.f. 01.08.2024 | |||
| 1 | 7 to 14 Days | 3.50 | 4.00 | 4.30 | |||
| 2 | 15 to 29 Days | 3.50 | 4.00 | 4.30 | |||
| 3 | 30 to 45 Days | 3.50 | 4.00 | 4.30 | |||
| 4 | 46 to 60 Days | 4.50 | 5.00 | 5.30 | |||
| 5 | 61 to 90 Days | 4.50 | 5.00 | 5.30 | |||
| 6 | 91 to 179 Days | 4.50 | 5.00 | 5.30 | |||
| 7 | 180 to 270 Days | 6.25 | 6.75 | 7.05 | |||
| 8 | 271 Days to 299 Days | 6.50 | 7.00 | 7.30 | |||
| 9 | 300 Days | 7.05 | 7.55 | 7.85 | |||
| 10 | 301 Days to < 1 Year | 6.50 | 7.00 | 7.30 | |||
| 11 | 1 Year | 6.80 | 7.30 | 7.60 | |||
| 12 | > 1 Year to 399 days | 6.80 | 7.30 | 7.60 | |||
| 13 | 400 Days | 7.25 | 7.75 | 8.05 | |||
| 14 | 401 Days to 2 Years | 6.80 | 7.30 | 7.60 | |||
| 15 | > 2 years to 3 years | 7.00 | 7.50 | 7.80 | |||
| 16 | > 3 years to 1203 days | 6.50 | 7.00 | 7.30 | |||
| 17 | 1204 days** | 6.40 | 6.90 | 7.20 | |||
| 18 | 1205 days to 5 years | 6.50 | 7.00 | 7.30 | |||
| 19 | > 5 years to 1894 days | 6.50 | 7.30 | 7.30 | |||
| 20 | 1895 days** | 6.35 | 7.15 | 7.15 | |||
| 21 | 1896 days to 10 years | 6.50 | 7.30 | 7.30 | |||
Bank of India FD rates revised
Bank of India has also revised its FD rates for deposits up to Rs 3 crore and for deposit ranging from Rs 3 crore to Rs 10 crore. With this changes in FD rates, Bank of India will now be offering interest rates on FDs of 7 days to 10 years tenors in the range of 3% to 6% for fixed deposits up to Rs 10 crore.
The public sector bank is offering maximum interest rate of 7.30% on deposits less than Rs 3 crore for 666 days.