Punjab National Bank (PNB), one of India’s largest public sector banks, has not yet updated its Fixed Deposit (FD) rates after the recent repo rate cut by the RBI.
The repo rate was reduced by 0.25% to 5.25% recently, which usually influences bank interest rates. However, PNB may revise its FD rates soon.
If you are looking for a safe investment option, PNB offers FDs with attractive interest rates that can help your money grow steadily.
Best Interest on 390-Day FDs
PNB allows customers to open FDs for tenures ranging from 7 days to 10 years.
The interest rates vary based on your age and deposit tenure:
390-day FD:
General citizens: 6.50%
Senior citizens: 7.00%
Very senior citizens: 7.30%
3-year FD:
General citizens: 6.40%
Senior citizens: 6.90%
Very senior citizens: 7.00%
This makes short-term and medium-term FDs a convenient way to earn fixed returns with minimal risk.
Earn Up to ₹23,872 on a ₹1 Lakh Deposit
Here’s how your money can grow in a 3-year PNB FD:
General citizen: Deposit ₹1 lakh → Maturity amount ₹1,20,983 → Interest earned ₹20,983
Senior citizen: Deposit ₹1 lakh → Maturity amount ₹1,22,781 → Interest earned ₹22,781
Very senior citizen: Deposit ₹1 lakh → Maturity amount ₹1,23,872 → Interest earned ₹23,872
Even with a moderate deposit of ₹1 lakh, PNB FDs can provide significant fixed returns over the investment period.
This is an ideal option for conservative investors looking for safe and guaranteed income.
With PNB’s flexible tenure options and attractive interest rates for seniors, it remains one of the preferred choices for long-term savings.