Fixed deposits allow investors to deposit a lump sum amount of money for a set period, earning interest over time.
New Delhi: Punjab National Bank (PNB) has updated its fixed deposit (FD) rates and introduced two new tenures for deposits under 3 crore. It became effective from January 1, 2025. The bank now offers a 303-day FD with an interest rate of 7 per cent and a 506-day FD at 6.7 per cent for regular depositors. These new options provide more flexibility for customers looking to invest in FDs.
Also Read : Union Budget 2025 To Be Presented By Nirmala Sitharaman On February 1? Check Timings And Other Details
Why Fixed Deposits Are a Rewarding Investment Option
Fixed deposits allow investors to deposit a lump sum amount of money for a set period, earning interest over time. They offer high interest rates than a regular savings account which makes them more rewarding investment option.
FD Rates for Senior and Super Senior Citizens
For senior citizens, Punjab National Bank offers a 7.5 per cent interest rate on the new 303-day FD scheme and a 7.2 per cent interest rate on the 506-day FD. Super senior citizens will benefit from even higher rates, with 7.8 per cent on the 303-day FD and 7.5 per cent on the 506-day FD. These new tenures provide attractive options for both senior and super senior citizens looking to invest in FDs.
Also Read : Budget 2025: 5 reforms that could make new tax regime a better deal for you
PNB Fixed Deposit Interest Rates for General Citizens
Punjab National Bank offers fixed deposit interest rates between 3.50 per cent and 7.25 per cent for terms ranging from seven days to 10 years for general citizens. The highest interest rate of 7.25 per cent is available for a 400-day term.
FD Return Calculator
So, if you are investing Rs 1 lakh at the 7.5 per cent rate, you will get Rs 7,500 per year interest income. So, after one year, your maturity amount would be Rs 1,07,500. Similarly, if the interest rate is 7.8 per cent, the yearly return would be Rs 7,800 and the maturity amount would be Rs 1,07,800.
