Punjab National Bank (PNB), one of India’s largest public sector banks, is offering excellent fixed deposit (FD) interest rates to its customers.
Even after the RBI cut the repo rate by 1.25% last year, PNB continues to provide competitive returns, making it a good option for investors seeking safe and fixed income.
PNB FD Interest Rates: Up to 7.20%
PNB offers FD interest rates ranging from 3% to 7.20%, depending on the tenure and age of the depositor.
Customers can open an FD account for as little as 7 days or up to 10 years.
The highest interest rate is offered under PNB’s 390-day special FD scheme:
General citizens: 6.40%
Senior citizens: 6.90%
Very senior citizens: 7.20%
For 5-year FDs, the rates are:
General citizens: 6.10%
Senior citizens: 6.60%
Very senior citizens: 6.90%
This makes PNB an attractive option for those looking for long-term fixed returns.
How Much Can You Earn on Rs 2 Lakh?
If you deposit Rs 2 lakh in a 5-year FD with PNB, here’s what you can expect at maturity:
General citizen: Rs 2,70,701 (Interest: Rs 70,701)
Senior citizen: Rs 2,77,445 (Interest: Rs 77,445)
Very senior citizen: Rs 2,81,568 (Interest: Rs 81,568)
This shows that senior and very senior citizens can earn significantly higher returns due to the additional interest benefits offered by PNB.
With FD rates this attractive, PNB fixed deposits are a safe and rewarding option for anyone looking to grow their savings steadily.