PNB FD interest rate 2023: Get up to 7.8% return on fixed deposit

PNB FD Interest Rate 2023: Punjab National Bank (PNB) has hiked the fixed deposit interest rate by 30 basis points (bps) for certain tenors. According to the bank's official website, the increase FD rates are applicable from today, February 20.

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The public sector bank's decision to hike FD interest rate follows the Reserve Bank of India's (RBI) move to hike the benchmark lending rate -- repo rate by 25 basis points to 6.50 per cent.

PNB is now offering 5.8 per cent return on FDs for 271 days to less than 1 year. Earlier, the interest rate on FDs of same tenor was 5.5 per cent. For senior citizens, the bank has hiked the interest rate from 6 per cent to 6.3 per cent on FDs of 271 days to less than 1 year. For super senior citizens, the government-owned bank has declared offering 6.6 per cent return.

The bank is providing an interest rate of 6.8 per cent to the general customer if they invest for a year up to 665 days. For the same period, senior citizens will get 7.3 per cent return while super senior citizens will earn 7.6 per cent return.

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For a period of 667 days to 2 years, PNB is offering an interest rate of 6.8 per cent to the general public, 7.3 per cent to senior citizens and 7.6 per cent to super senior citizens.

For deposits maturing above 2 years and up to 3 years, the bank has hiked the interest rate by 25 bps. While the general customers will get 7 per cent return, senior citizens and super senior citizens will earn 7.5 per cent and 7.8 per cent returns, respectively.

(Disclaimer: These are indicative prices collected from trusted sources. Investors are recommended to check prices with their jeweller before investing/purchasing.)

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