Mumbai: Punjab National Bank (PNB) has revised its fixed deposit (FD) rates. The public sector bank also added two new tenures for deposits of less than Rs 3 crore. PNB has added a 303-day tenure with an interest rate of 7 per cent and a 506-day tenure with an interest rate of 6.7 per cent for general citizens.
Fixed deposits allow investors to deposit a lump sum amount of money for a fixed period, earning interest on the amount. Compared to a savings account, a fixed deposit offers higher interest rates.
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Punjab National Bank offers fixed deposit interest rates ranging from 3.5 per cent to 7.25 per cent for tenures spanning 7 days to 10 years for general citizens. The highest interest rate of 7.25 per cent is available for a tenure of 400 days.
Check out the latest FD rates for deposits less than Rs 3 crore:
Period Revised rates for general citizens Revised rates for senior citizens Revised rates for super senior citizens
7 to 14 Days 3.5 4.0 4.3
15 to 29 Days 3.5 4.0 4.3
30 to 45 Days 3.5 4.0 4.3
46 to 60 Days 4.5 5.0 5.3
61 to 90 Days 4.5 5.0 5.3
91 to 179 Days 5.5 6.0 6.3
180 to 270 Days 6.25 6.75 7.05
271 Days to 299 Days 6.5 7.0 7.30
300 Days 7.05 7.55 7.85
301 Days to 302 Days 6.5 7.0 7.3
303 Days 7.0 7.5 7.8
304 Days to < 1 Year 6.5 7.0 7.3
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