Mumbai: The second largest government owned bank in the country, Punjab National Bank (PNB) has hiked interest rates of fixed deposits (FDs) for senior citizens who are above 80 years. The interest rates were hiked by 80 basis points (bps). The new interest rate is available on all tenures of fixed deposits starting from 7 days to 10 years.
Banks usually offer a higher interest rate, 50 bps, to senior citizens (60 years and above) over and above the FD rates of the general public. PNB is the first bank in the country to offer a higher interest rate to super senior citizens on term deposits.
Also Read: Forex Market: Indian rupee falls to all-time low against US dollar, UAE dirham
PNB is offering fixed deposits starting from 7 days for a maximum of up to 10 years. Super senior citizens are getting an interest rate that ranges from 3.80% to 6.55% on fixed deposits that mature in 7 days to 1111 days.
Post Your Comments