PNB latest FD interest rates
PNB has increased the interest rate on one-year and two-year deposits to 5.20 percent, up from 5.10 percent earlier.
The bank will now offer a 5.30 percent interest rate on deposits with a maturity of more than 2 years and up to 3 years. PNB will now offer a 5.50 percent interest rate on deposits of more than 3 years and up to 5 years, up from 5.25 percent, representing a 25 basis point rise.
PNB will now pay 5.60 percent interest on deposits of 5 years or more and up to ten years, up from 5.25 percent. While other tenures remained unchanged.
Source: PNB website
Earlier, the bank had revised FD interest rates by up to 60 basis points on various tenors with effect from May 7, 2022.
On June 8, 2022, the Reserve Bank of India (RBI) raised repo rates by 50 basis points at its monetary policy meeting. In just over a month, the central bank has raised rates by a total of 90 basis points. In the coming few months, more banks are likely to raise FD rates, which is excellent news for FD investors.