This Public Sector Bank Revised Fixed Deposit and MCLR Rates, Check Latest Rates

Punjab national bank has revised its fixed deposit and MCLR rates. Bank has announced a reduction in the fixed deposit interest rates for single tenure amounts below Rs 2 crore, as per the information available on the PNB website. It has increased its marginal cost of lending rates (MCLR)by 10 basis points (bps) on all tenures. The revised rates will come into effect from June 1, 2023.

Latest FD rates for general citizens

PNB offers FD interest rates ranging from 3.05% to 7.25% for terms ranging from 7 days to 10 years to regular residents. The highest interest rate of 7.25% is available for a term of 444 days. The bank has reduced the interest rate on deposits maturing in one year by 5 basis points, from 6.80% to 6.75% for regular residents. The bank reduced the interest rate on 666-day FDs to 7.05% from 7.25% last month.

Latest FD rates for senior citizens

Senior citizens aged 60 to 80 years will receive an extra rate of interest of 50 basis points over applicable card rates for up to 5 years and 80 basis points for periods longer than 5 years on domestic deposits of less than Rs. 2 crore.

PNB offers FD interest rates ranging from 4% to 7.75% with terms ranging from 7 days to 10 years. The highest interest rate of 7.75% is available for a term of 444 days.

The bank reduced the interest rate on deposits maturing in one year by 5 basis points to 7.75% from 7.25% from 7.30% for older persons. The bank reduced the interest rate on 666-day FDs to 7.55% from 7.75% last month.

Latest FD rates for super senior citizen

Super Senior Citizens aged 80 and higher will receive an additional rate of interest of 80bps over the corresponding card rate across all maturity buckets.

PNB offers FD interest rates ranging from 4.30% to 8.05% for terms ranging from 7 days to 10 years for extremely senior folks. The highest interest rate of 8.05% is available for a term of 444 days.

The bank has reduced the interest rate on deposits maturing in one year by 5 basis points to 7.55% from 7.60% for super elderly persons. The bank reduced the interest rate on 666-day FDs to 7.85% from 8.05% last month.

Latest PNB FD rates

Period	Existing Rates For Public W.E.F. 18.05.2023	Revised Rates For Public W.E.F. 01.06.2023	*Existing Rates For Senior Citizens W.E.F. 18.05.2023	*Revised Rates For Senior Citizens W.E.F. 01.06.2023	#Existing Rates For Super Senior Citizens W.E.F. 18.05.2023	#Revised Rates For Super Senior Citizens W.E.F. 01.06.2023
7 to 14 days	3.5	3.5	4	4	4.3	4.3
15 to 29days	3.5	3.5	4	4	4.3	4.3
30 to 45 days	3.5	3.5	4	4	4.3	4.3
46 to 90 days	4.5	4.5	5	5	5.3	5.3
91 to 179 days	4.5	4.5	5	5	5.3	5.3
180 days to 270 Days	5.5	5.5	6	6	6.3	6.3
271 days to less than 1 year	5.8	5.8	6.3	6.3	6.6	6.6
1 year	6.8	6.75	7.3	7.25	7.6	7.55
above 1 year to 443 days	6.8	6.8	7.3	7.3	7.6	7.6
444 days	7.25	7.25	7.75	7.75	8.05	8.05
445 days to 665 days	6.8	6.8	7.3	7.3	7.6	7.6
666 days	7.05	7.05	7.55	7.55	7.85	7.85
667 days to 2 years	6.8	6.8	7.3	7.3	7.6	7.6
above 2 year & upto 3 years	7	7	7.5	7.5	7.8	7.8
above 3 year & upto 5 years	6.5	6.5	7	7	7.3	7.3
above 5 years & upto 10 years	6.5	6.5	7.3	7.3	7.3	7.3

Latest MCLR rates

According to the PNB website, the lender's overnight benchmark marginal cost of lending has been hiked from 8% to 8.10%, and the rates for one month, three months, and six months have been increased to 8.20%, 8.30%, and 8.50%, respectively. The one-year MCLR has been raised to 8.60% from 8.80%, while the three-year MCLR has been raised to 8.90% from 8.80%.

	MCLR W.E.F. 01-06-2023
MCLR TENOR	Existing W.E.F. 01.05.2023	Revised W.E.F. 01.06.2023
Overnight	8.00%	8.10%
One month	8.10%	8.20%
Three month	8.20%	8.30%
Six month	8.40%	8.50%
One year	8.50%	8.60%
Three years	8.80%	8.90%