Mumbai: The second largest government-owned bank in India, Punjab National Bank (PNB) has hiked the interest rates on fixed deposits (FDs) for senior citizens and super senior citizens. PNB increased interest rates on all tenors for super senior citizens and on one tenor for senior citizens.
The Senior citizens of age 60 years and up to 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5 years and 80bps for a period above 5 years on domestic deposits of less than Rs. 2 Crore. For Super Senior Citizens of age above 80 years shall get an additional rate of interest of 80bps over the applicable card rate across all maturity tenors.
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PNB will continue to offer an interest rate of 3.50% on fixed deposits under 2 crores that mature in 7 days to 45 days and an interest rate of 3.75% for senior citizens ages 60 and up to 80 on term deposits that mature in 46 to 90 days. Fixed deposits that mature in 1111 days, will get interest at a rate of 6.25%. Super senior citizens will now get interest rates on fixed deposits that mature in 7 days to 1111 days that range from 3.80% to 6.55.
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