State-run Punjab National Bank (PNB) has revised its fixed deposit interest rates with effect from September 1, 2019. PNB has lowered the interest rates by up to 0.50 percentage point on select maturities, according to the public sector bank’s website — pnbindia.in. On maturity periods such as 7-14 days and 15-29 days, the bank is offering an interest rate of 4.5 per cent to the general public and 5 per cent to senior citizens on fixed deposits of up to Rs. 2 crore. Previously, the bank paid interest rates of 5 per cent and 5.5 per cent on these FD maturities respectively.
On fixed deposits of 1-3 years maturity period, the public sector lender has lowered its interest rates by 0.25 percentage point. After the revision, PNB is offering interest at the rates of 6.5 per cent and 7 per cent on such fixed deposits to the general public and senior citizens respectively.