FD Rates: Fixed deposit interest rates are subject to change from time to time.Punjab National Bank (PNB) has revised its fixed deposit interest rates on select maturities with effect from May 1, 2019.
PNB has lowered the interest rate applicable tothe maturity period of 333 days, and increased in that of one year, according to the bank's website -- pnbindia.in.
The bank is offering an interest rate of 6.95 per cent to general public and 7.45 per cent to senior citizens in fixed deposits of 333 days maturity.
Previously, the state-run lender paid interest rates of 7.1 per cent and 7.6 per centon FDs of these maturities respectively.PNB will now pay an interest rate of 7 per cent to the general public and 7.5 per cent to senior citizens on fixed deposits of one-year maturity, as against 6.75 per cent and 7.25 per cent previously.
The bank has, however, left the interest rates on other maturities unchanged.Here are the latest interest rates paid by PNB on fixed deposits (FD) less than Rs.
2 crore with effect from May 1, 2019:PeriodGeneral public (% p.a.)Senior Citizen (% p.a.)7 to 14 days5.756.2515 to 29 days5.756.2530 to 45 days5.756.2546 to 90 days6.356.8591 to 179 days6.356.85111 days6.57180 days to 270 Days6.356.85222 days6.67.1271 days to less than 1 year6.356.85333 days6.957.451 year77.5555 days6.857.35above 1 year up to 3 years6.757.25above 3 year up to 5 years6.256.75above 5 years up to 10 years6.256.75Fixed deposit interest rates are subject to change from time to time.
The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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