Another bank hikes interest rates on fixed deposits

Mumbai: Leading state-owned  lender in the country, Punjab National Bank (PNB) has increased  its interest rates on fixed deposits of select tenures. Fixed deposit  interest rates are hiked by 40 basis points each on deposit tenure of ‘above 3 years and up to 5 years’ and ‘above 5 years and up to 10 years’ to 6.50 per cent each.

‘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. In the case of staff members as well as retired staff members who are also Senior Citizens, a maximum rate of interest to be allowed over the applicable card rate shall be 150 bps for a period up to 5 years and 180 bps for a period above 5 years,’ said PNB in a statement.

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Here are the revised interest rates on fixed deposits below Rs 2 crore:

7 days to 14 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

15 days to 29 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

30 days to 45 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent

46 days to 90 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

91 days to 179 days: For General Public – 4.50 per cent; For Senior Citizens – 5.00 per cent

180 days to 270 days: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

271 days to less than 1 year: For General Public – 5.50 per cent; For Senior Citizens – 6.00 per cent

1 year: For General Public – 6.30 per cent; For Senior Citizens – 6.80 per cent

Above 1 year to 599 days: For General Public – 6.30 per cent; For Senior Citizens – 6.80 per cent

600 days: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent

601 days to 665 days: For General Public – 6.30 per cent; For Senior Citizens – 6.80 per cent

666 days: For General Public – 7.25 per cent; For Senior Citizens – 7.75 per cent

667 days to 2 Years: For General Public – 6.30 per cent; For Senior Citizens – 6.80 per cent

Above 2 years up to 3 years: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent

Above 3 years up to 5 years: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent

Above 5 years to 10 years: For General Public – 6.50 per cent; For Senior Citizens – 7.30 per cent.