Public sector Punjab National Bank (PNB) has increased the interest rate on fixed deposits for senior citizens. The bank said that interest rates have been increased on fixed deposits or FDs of a specific tenor for senior citizens and on FD deposits of all tenors for super senior citizens.
In fact, according to the information available on PNB’s website, the bank has increased the interest rates by 0.30 percent on FDs up to Rs 2 crore. The new interest rates have come into effect from September 13, 2022.
Raised the interest rate from 6.15% to 6.45%
PNB has increased the interest rate on FDs of 5 to 10 years for senior citizens from 6.15% to 0.30 percent to 6.45%. According to the bank’s website, senior citizens will get an additional 0.50 percent interest on the maturity of any domestic deposit FD of less than Rs 2 crore at the applicable rates.
interest rates for senior citizens
According to the information available on the bank’s website, for senior citizens of 60 years and up to 80 years, on deposits of less than Rs 2 crore, 0.50 per cent more than the rates applicable for a period of up to 5 years and for a period of more than 5 years. Interest rates will be 0.80 percent higher than the rates.