New Delhi: Punjab National Bank (PNB) has cut interest rates on savings deposits. The state-run lender has reduced the interest rate on savings account deposits by 10 basis points (bps) for account balances below Rs 10 lakh and 5 basis points (bps) for account balances of Rs 10 lakh and above. 2.80% p.a. and 2.85. % per respectively.
The new interest rates will be effective from December 1, 2021. View Latest Rates of Punjab National Bank savings deposit down,
|rate of interest|
|Savings Fund Account Balance Rs. 10 lakh||2.80% p.a.|
|Savings Fund Account Balance Rs. 10 lakh and above||2.85% p.a.|
it may be remembered that Punjab National Bank Revised interest rates on fixed deposits a few months back. The revised interest rates will be applicable on fresh deposits and renewal of existing deposits with effect from August 1, 2021.
The public sector bank had said senior citizens would get an additional interest rate of 50 bps over the 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, the maximum rate of interest on the applicable card rate would be 150 bps, in case of PNB Tax Saver Fixed Deposit Scheme, where the maximum rate of interest was added by PNB that The applicable card rate is 100 bps.