State-run Punjab National Bank (PNB) has revised its fixed deposit interest rates with effect from Thursday, August 1, 2019. PNB has lowered the interest rates by up to 0.50 percentage points on select maturities according to the public sector lender’s website — pnbindia.in. On maturity periods such as 7-14 days and 15-29 days, the bank is offering an interest rate of 5 per cent to general public and 5.5 per cent to senior citizens on fixed deposit maturities of 7-14 days and 15-29 days. Previously, the public sector bank paid interest rates of 5.50 per cent and 6 per cent on these FD maturities respectively.
However, PNB has also increased interest rates on select maturities. In 3-5 years period, the bank is offering 6.5 per cent and 7 per cent to general public and senior citizens respectively. The revision marks an increase of 0. 25 percentage points.