Bulk FD rates ranging from Rs 2 crore to Rs 10 crore have been increased by public sector Punjab National Bank. This increase has been done by the bank on FDs ranging from 7 days to one year. According to the official website of the bank, the new interest rates have come into effect from May 4.
Let us tell you, due to the continuous increase in the repo rate from the RBI, banks are continuously increasing the interest rates of FDs. In the last one year, the repo rate has increased from 4.00 percent to 6.50 percent.
PNB new interest rates
PNB has increased the interest rate of bulk FDs from 7 days to 45 days by 0.50 percent from 5.50 percent to 6.00 percent. The interest rate on bulk FDs ranging from 46 days to 90 days has been increased by 0.75 percent. Due to this the interest rate has increased from 5.50 percent to 6.25 percent. The interest rate on FDs of 91 days to 179 days has been increased by 0.50 percent from 6.00 percent to 6.50 percent.
The interest rate on FDs ranging from 180 days to less than one year has been increased from 6.25 percent to 6.50 percent. At the same time, the interest rate on bulk FD of one year period has been increased by 0.25 percent to 7.00 percent.
Interest rate on FD of other tenure
There is no change in the interest rate on bulk FDs for the remaining tenors. The interest rate on bulk FDs ranging from 1 year one day to 2 years is 6.50 percent. The interest rate on bulk FDs from 2 years one day to 3 years is 6.50 percent, from 3 years one day to less than 5 years, 6.25 percent interest is being given. At the same time, the interest rate on FDs ranging from 5 years one day to 10 years is 5.60 percent.
