PNB FD Update – Investing in PNB is a great opportunity, offering bumper returns. Investing in this bank can earn substantial returns. Account holders will face no inconvenience. The Reserve Bank of India kept the repo rate unchanged in August. Previously, it had decided to cut the repo rate by 1% in February, April, and June.
As a result, many banks also decided to reduce their FD interest rates. Following the repo rate cut, Punjab National Bank is a great option for customers, offering attractive interest rates. The bank offers FD accounts with tenures ranging from 7 days to 10 years. PNB offers the highest interest rates on 30-day FDs.
Learn about the interest rates on each FD.
PNB has different interest rates for general and senior citizens. A 390-day FD offers 6.60% interest for general citizens. Senior citizens are offered 7.10% interest. For FDs with a two-year term, the bank offers 6.40% interest to general customers, 6.90% to senior citizens, and 7.20% to super senior citizens.
This return will strengthen your financial situation. It will help you meet your expenses and live a good life. If you want to avail this PNB interest rate, carefully understand some important points so you won’t face any problems.
How much will you earn on a 2 lakh rupee FD?
If you make a 2-year FD with Punjab National Bank, you’ll benefit from a good interest rate. A 2 lakh rupee FD will yield a profit of 227,080 rupees over two years. Of this, 27,080 rupees will be paid as interest. If a senior citizen makes the same investment, they’ll receive a return of 229,325 rupees. This means 29,325 rupees will be paid as interest.
This will not cause any inconvenience to any customers. A super senior citizen who invests in a fixed deposit with the bank will receive a return of ₹230,681, meaning a guaranteed interest of ₹30,681.
For your information, PNB FDs are not only a safe investment, but also particularly beneficial for those with regular and fixed rates. This is a reliable option, especially for senior and super senior citizens, who can expect excellent returns.
