In case the tenure for the Domestic/NRO deposit is 7 to 45 days, Punjab National Bank offers an interest rate of 6 per cent. When the tenure becomes 46 to 90 days, the banks offers an interest rate of 6.25 per cent.
New Delhi: State-run Punjab National Bank has hiked interest rates on bulk term deposits of Rs 2 crore and above but below Rs 10 crore.
Now, you can earn up to 7.05 per cent interest for a deposit that is greater than or equal to Rs 2 crore, but below Rs 10 crore, for a period of 1 year under the Punjab National Bank Uttam (Non Callable) Fixed Deposit Scheme.
For a Domestic/NRO fixed deposit scheme of the same tenure, the interest rate is 7 per cent.
In case the tenure for the Domestic/NRO deposit is 7 to 45 days, Punjab National Bank offers an interest rate of 6 per cent. When the tenure becomes 46 to 90 days, the banks offers an interest rate of 6.25 per cent.
The aforementioned tenures don’t come under the blanket of PNB (Non Callable) Fixed Deposit Scheme.
Non-Callable Fixed Deposit schemes don’t have a lock-in period. The amount that the investor has deposited cannot be withdrawn until it matures with exceptions including bankruptcy of the account holder, winding up of business, orders by, in the case of death, et cetera.
Punjab National Bank offers an interest rate of 6.50 per cent for multiple tenures between 91 days to less than 1 year. During the same tenures, the bank offers an interest rate of 6.55 per cent under its non callable FD scheme.
| Domestic/NRO Fixed Deposit Scheme | PNB Uttam (Non Callable) Fixed Deposit Scheme | ||||
| Sl. No | Period | Existing Rates For Public W.E.F. 19.12.2022 | Revised Rates For Public W.E.F. 04.05.2023 | Existing Rates For Public W.E.F. 19.12.2022 | Revised Rates For Public W.E.F. 04.05.2023 |
| 1 | 7 to 14 days | 5.5 | 6 | NA | NA |
| 2 | 15 to 29days | 5.5 | 6 | NA | NA |
| 3 | 30 to 45 days | 5.5 | 6 | NA | NA |
| 4 | 46 to 90 days | 5.5 | 6.25 | NA | NA |
| 5 | 91 to 179 days | 6 | 6.5 | 6.05 | 6.55 |
| 6 | 180 days to 270 Days | 6.25 | 6.5 | 6.3 | 6.55 |
| 7 | 271 days to less than 1 year | 6.25 | 6.5 | 6.3 | 6.55 |
| 8 | 1 year | 6.75 | 7 | 6.8 | 7.05 |
| 9 | above 1 year & upto 2 years | 6.5 | 6.5 | 6.55 | 6.55 |
| 10 | above 2 year & upto 3 years | 6.5 | 6.5 | 6.55 | 6.55 |
| 11 | above 3 year & upto 5 years | 6.25 | 6.25 | 6.3 | 6.3 |
| 12 | above 5 years & upto 10 years | 5.6 | 5.6 | 5.65 | 5.65 |
*Source: Bank Website
Punjab National Bank has noted that the interest rates for deposits of Rs 2 crore and above (up to Rs 10 crore) are not loaded with rate of interest for senior citizens, staff accountants et cetera.
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