Punjab National Bank (PNB) has changed the interest rates of fixed deposits. The new rates have come into effect from 5 November 2026. Now on the bank's 444 day FD, general customers will get 6.70% interest, senior citizens will get 7.20% and people aged 80 years and above will get 7.45% annual interest.
Business News: If you have an account in Punjab National Bank and you are thinking of investing your savings in FD, then take a look at the new interest rates of the bank. PNB has changed the interest on fixed deposits of certain duration from November 5. Especially those keeping money in 444 day FD will now get slightly higher returns than before.
There are separate rates fixed for the elderly in the bank also. In such a situation, before opening an FD, it is important to see how much interest is being received on depositing money for how many days.
How much will you earn by depositing Rs 1 lakh?
Suppose you make an FD of Rs 1 lakh in PNB for 444 days. A normal customer can get around Rs 1,08,400 on maturity at 6.70 percent annual interest. At the same time, senior citizens below 60 to 80 years of age will get approximately Rs 1,09,100 at 7.20 percent interest. Similarly, a customer aged 80 years or above can get around Rs 1,09,400 at 7.45 percent interest.
This calculation is estimated on the basis of quarterly compound interest. The actual amount may vary slightly as per bank calculations, interest payment option and applicable terms.
Highest interest available on FD of 680 days
Apart from 444 days, PNB has also made 680 days FD attractive. In the new interest rates of the bank, general customers are being given 6.80 percent interest annually on FD of 680 days. The interest rate for senior citizens during this period is 7.30 percent, while super senior citizens will get 7.55 percent annual interest.
This means that you are getting more interest by choosing a tenure of 680 days as compared to 444 days in the normal FD scheme. However, the money will also have to be deposited for a long time. Customers who can keep their savings in the bank for about two years can take a decision by comparing the returns of both the periods.
How much more interest will elderly customers get on FD?
In Punjab National Bank, FD interest rates for senior citizens have been kept slightly higher than that of general customers. If your age is above 60 years and less than 80 years, then the bank will give you 0.50 percent additional interest on domestic FD for up to five years. At the same time, people aged 80 years and above get 0.75 percent more interest than the normal interest rate.
However, the interest rules change when money is deposited for more than five years. In such a situation, it would be better to get information about the rates from the bank before making a long term FD. Also know that the additional interest given to the elderly is not applicable on every type of FD. If the money is kept in NRO deposit, then additional interest based on age will not be given on it.
How much interest is the bank giving on short term FD?
FD can be made in PNB not only for one or two years but also for a few days. There is an option to keep money deposited in the bank for seven days to ten years. According to the new interest rates, general customers will get 3 percent annual interest on FD of seven to 45 days. If a person deposits money for one year, he will be given 6.25 percent interest.
For the same period, senior citizens will get 6.75 percent interest and those aged 80 years and above will get 7 percent interest. The interest rate for general customers on many FD schemes of more than three years and up to five years has been kept at 6.35 percent. However, the rates for some specific term plans are different. Therefore, while opening an FD, be sure to ask how much interest the bank is offering as per your chosen number of days.
If you are going to get FD in PNB then know these things also
Many people keep a part of their savings in FD because the interest on it is already fixed. Unlike the stock market, there is no need to worry about daily fluctuations in money. But before making FD, it is important to think about when that money may be needed.
Suppose you have made an FD for two years and after a few months you need money. In such a situation, if FD is closed prematurely, you cannot get the full fixed interest. In the general rules of PNB, there is a provision of deduction of up to one percent from the applicable interest rate on premature break of FD. However, exemption from this may also be available in some deposit schemes.
Tax rules also apply on interest earnings from FD. Apart from this, it is also important to know the limit of insurance cover available on the amount deposited in the bank. Under DICGC, a depositor's eligible deposit in a bank gets insurance cover up to a maximum of Rs 5 lakh, including principal and interest.