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PNB cuts interest rates on savings account deposits. Details here

PNB cuts interest rates on savings account deposits. Details here

Public sector lender, Punjab National Bank or PNB has announced to lower interest rate on savings account deposits by 10 basis points (bps). The new interest rate of 2.90 per cent per annum will be applicable to both existing and new savings accounts holders, the lender mentioned on its website. The rate of interest on savings account deposits has been reduced with effect from 1 September 2021, Punjab National Bank noted.

For deposits below 100 crore, the new interest rate will be 2.9 per cent, down by 0.10 per cent from 3 per cent.

Deposits of 100 crore and above will also earn the same interest of 2.9 per cent as against 3 per cent currently.

PNB latest FD rates

PNB is offering an interest rate ranging between 2.9% and 5.25% on fixed deposits maturing in the range of 7 days to 10 years. Senior citizens get an additional rate of interest of 0.5 per cent on their deposits. For FDs maturing in 7 days to 10 years, they get an interest rate ranging between 3.4% and 5.75%. These rates are with effect from 1 August 2021.

PNB savings account cash withdrawal limit 

PNB offers three types of debit cards to its customers — Platinum, Classic and Gold. As per the PNB’s official website, PNB Platinum debit cardholders, cash withdrawal limit per day is 50,000. For, PNB Classic debit cardholders, the cash withdrawal limit per day is 25,000. For PNB gold debit cardholders, the cash withdrawal limit per day is 50,000.

 

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