Punjab National Bank (PNB) has revised its fixed deposit interest rates on select maturities with effect from Monday, July 1, 2019.
State-run PNB has lowered the interest rate applicable to maturity periods such as 7-14 days and 15-29 days,according to the lender's website -- pnbindia.in.
The bank is offering an interest rate of 5.5 per cent to general public and 6 per cent to senior citizens onfixed depositmaturities of 7-14 daysand15-29 days.
Previously, the public sector bank paid interest rates of 5.75 per cent and 6.25 per cent on these FDmaturities respectively.PeriodGeneral publicSenior citizens7 to 14 days5.5%6%15 to 29 days5.5%6%30 to 45 days5.5%6%46 to 90 days6.25%6.75%91 to 179 days6.25%6.75%180 days to 270 days6.25%6.75%271 days to less than 1 year6.5%7%333 days6.75%7.25%1 year6.8%7.3%444 days6.85%7.35%555 days6.85%7.35%above 1 year - up to 3 years6.75%7.25%above 3 year - up to 5 years6.25%6.75%above 5 years - up to 10 years6.25%6.75%Fixed deposit interest rates are subject to change from time to time.
Last month, private sector lender HDFC Bank also revised its fixed deposit interest rates on select maturities.( How to decide the best size and lock-in period for your fixed deposit)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 Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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