November 29, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Punjab National Bank Savings A/c interest rates to be slashed from next week– Check new rates here

New Delhi: Punjab National Bank (PNB) has slashed interest rates on savings deposits. The state run lender has reduced interest rate on savings account deposits by 10 basis points (bps) for account balance less than Rs 10 lakh and by 5 basis points (bps) for account balance of Rs 10 lakh and above to 2.80% p.a and 2.85% p.a respectively.

The new interest rates will be effective from December 1, 2021. Check out the latest rates of  Punjab National Bank savings deposits below.

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  Rate Of Interest  
Saving Fund Account Balance below Rs. 10 Lakh 2.80% p.a.  
Saving Fund Account Balance of Rs. 10 Lakh & above 2.85% p.a.  

It may be recalled that Punjab National Bank revised interest rates on fixed deposits couple of months ago. The revised interest rates will be applicable to fresh Deposits and renewal of existing deposits with effect from August 1, 2021.

The public sector bank had said that senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than Rs 2 Crore. 

In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate 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, PNB had added.

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