Millennium Post

PNB revises rates on FDs by up to 2%

State-owned Punjab National Bank on Friday realigned interest rates on fixed deposits of Rs 1 crore-Rs 10 crore by up to 2 per cent.

Term deposits of 7-14 days would now earn an interest rate of 6 per cent, an increase of 2 per cent, Punjab National Bank (PNB) said in a statement. Further, fixed deposits in the maturity bucket of 15-29 days would attract an interest rate of 6 per cent, up from 4.50 per cent. The realignment is with immediate effect. In case of maturity period of 30-45 days, the interest rate has been cut by 25 basis points to 6.25 per cent.
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