PNB account holders? Your bank is offering attractive interests on fixed deposits; This segment is biggest gainer
The new rates on FDs are for those customers who are looking to make deposits below Rs 1 crore on various tenures. And what is notable is that it would be senior citizens who benefit the most from PNB Fixed Deposits.
Made a new year resolution about making more money? Want to make your money work hard to give you better returns? If you are a Punjab National Bank account holder of if you want to open an account there, then there is a a big opportunity to enrich yourself just waiting for you. A flood of fixed deposit offers have already knocked on the doors of customers in 2019 state-owned lender Punjab National Bank (PNB) has hiked interest rates on this investment tool, thereby making it very lucrative.
The new rates on FDs are for those customers who are looking to make deposits below Rs 1 crore on various tenures. And what is notable is that it would be senior citizens who benefit the most from PNB Fixed Deposits.
From January 01, PNB gives 5.75% interest rate each on FDs made from 7 days to maximum 45 days tenure. Senior citizens enjoy 6.25% interest rate!
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In case of one year tenure, a customer will enjoy 6.92% interest rate on Fixed Deposits, whereas a senior citizen will receive 7.25%.
Not only this a senior citizen will get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than Rs 1 Crore.
As for PNB staff, including retired members as well as those who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rates shall be 150 bps except in case of PNB Tax Saver Fixed deposit scheme, where the maximum rate of interest to be allowed over applicable card rate is 100 bps.
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