Savings Account Interest Rates | New Delhi: The Punjab National Bank (PNB) has announced a decrease in its savings interest rates. According to the official website of PNB, the accounts with a balance under Rs 10 lakh will be given a PNB interest rate of 2.7 per cent per annum. Along with this, the accounts with a balance over Rs 10 lakh but lower than Rs 500 crore, will be given the interest rate of 2.75 per cent.
The new rates, which will be effective from April 4, 2022, will impact lakhs of PNB depositors. It is the second-largest Public Sector Bank (PSB) in India, behind just the State Bank of India (SBI). The interest rates have been lowered by 0.5 per cent since February. In February, the bank had notified the savings interest rates of 2.75 per cent on accounts with Rs 10 lakh. For the accounts with Rs 10 lakh but less than Rs 500 crore, the interest rate was 2.8 per cent.
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PNB Interest Rates: Gold Monetisation Scheme
Under the Gold Monetisation Scheme, the bank is providing interest rates of 0.5 per cent to 0.75 per cent on short term deposits. For the medium and long term deposits, the bank is offering interest rates of 2.25 per cent and 2.5 per cent per annum.
The rates can be checked below
| Time Duration (Gold monetisation scheme) | Interest Rates |
| Short term deposits | |
| 1 year or less | 0.5 per cent |
| Between 1 to 2 years | 0.6 per cent |
| Between 2 to 3 years | 0.75 per cent |
| Medium-term and Long term deposits | |
| Medium Term govt deposit | 2.25 per cent |
| Long Term govt deposit | 2.5 per cent |
PNB Interest Rates: PNB Fixed Deposit Interest Rate
The latest PNB Fixed deposit interest rate can be checked here
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| Time Period | Interest Rates | Interest Rates (Senior Citizen) |
| 7-14 days | 2.9 per cent | 3.4 per cent |
| 15-29 days | 2.9 per cent | 3.4 per cent |
| 30-45 days | 2.9 per cent | 3.4 per cent |
| 46-90 days | 3.25 per cent | 3.75 per cent |
| 91-179 days | 3.8 per cent | 4.3 per cent |
| 180- 270 days | 4.4 per cent | 4.9 per cent |
| 271- 1 year | 4.4 per cent | 4.9 per cent |
| 1 year | 5 per cent | 5.5 per cent |
| 1 year – 2 years | 5 per cent | 5.5 per cent |
| 2 years – 3 years | 5.1 per cent | 5.6 per cent |
| 3 years – 5 years | 5.25 per cent | 5.75 per cent |
| 5 years – 10 years | 5.25 per cent | 5.75 per cent |
