PNB Bank FD Rate: Punjab National Bank (PNB) pays interest rates to the tune of 4.5-6.8 per cent to customers on fixed deposits up to Rs 2 crore. These fixed deposits - also known as retail term deposits - are available in 15 maturity options ranging from seven days to 10 years at the state-run lender. PNB pays slightly higher returns to senior citizen retail depositors compared to other customers. For example, on a fixed deposit up to Rs 2 crore of one year, PNB pays interest at the rate of 6.8 per cent to senior citizen customers and 6.3 per cent to other customers, according to its website - pnbindia.in. (Also Read: Compare Bank FD Rates Paid By Peers Here)
PNB pays the following interest rates on retail fixed deposits:
PNB Fixed Deposit Rates
| Maturity Period | Interest Rate (With Effect From December 1) | |
|---|---|---|
| Public | Senior Citizen | |
| Seven to 14 days | 4.5% | 5% |
| 15 to 29 days | 4.5% | 5% |
| 30 to 45 days | 4.5% | 5% |
| 46 to 90 days | 5% | 5.5% |
| 91 to 179 days | 5% | 5.5% |
| 180 to 270 days | 6% | 6.5% |
| 271 days to less than one year | 6% | 6.5% |
| 333 days | 6.1% | 6.6% |
| One year | 6.3% | 6.8% |
| 444 days | 6.3% | 6.8% |
| 555 days | 6.3% | 6.8% |
| Above one year and up to two years | 6.3% | 6.8% |
| Above two years and up to three years | 6.25% | 6.75% |
| Above three years and up to five years | 6.25% | 6.75% |
| Above five years and up to 10 years | 6.3% | 6.8% |
| (Source: pnbindia.in) | ||
(Punjab National Bank FD Interest Rates: On fixed deposits of two years, PNB gives a 6.8 per cent return to senior citizens and 6.3 per cent to other customers, according to its website)
Investment in fixed deposits with a maturity period of five years offers income tax benefit up to Rs 1.5 lakh per financial year under Section 80C of the Income Tax Act. Interest income, however, is subject to income tax.
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