Fixed deposit interest rates are subject to change from time to time.State-run Punjab National Bank (PNB) provides interest rates to the tune of 5.75-6.25 per cent to the general public on fixed deposits (FD) of less thanRs.
2 crore, according to its website, pnbindia.in.
These interest rates on fixed depositsofless thanRs.
2 crore are applicable with effect from March 1, 2019, according to PNB's website.
The bank pays slightly higher returns to senior citizen customers.
In the same range of maturities, the bank pays interest at the rate of 6.25-7.25 per cent on FDs up to Rs.
2 crore, according to the bank.Here are the latest interest rates paid by PNB on fixed deposits (FD) less than Rs.
2 crore with effect from March 1, 2019:PeriodGeneral public (% p.a.)Senior citizen(% p.a.)7 to 14 days5.756.2515 to 29 days5.756.2530 to 45 days5.756.2546 to 90 days6.356.8591 to 179 days6.356.85111 days6.57180 days to 270 Days6.356.85222 days6.67.1271 days to less than 1 year6.356.85333 days7.17.61 year6.757.25555 days6.857.35above 1 year up to 3 years6.757.25above 3 year up to 5 years6.256.75above 5 years up to 10 years6.256.75The fixed deposit accounts which have a lock-in period of five or 10 years also offer income tax benefit under Section 80C of the Income Tax Act, 1961.Fixed deposit interest rates are subject to change from time to time.
Recently, private sector lender Axis Bank revised its fixed deposit interest rates.