PNB hikes FD interest rates by up to 25 bps; now earn up to 8.05% fixed deposit rate (2024)

Punjab National Bank (PNB) has raised its interest rates for fixed deposits (FD) by up to 25 basis points for amounts up to Rs 3 crore. The new FD interest rates are effective from August 2, 2024, according to the information available on the PNB website.

Here a look at the latest PNB FD interest rates.

PNB has raised the interest rates for fixed deposits (FDs) across four different time periods. Following the increase, the highest interest rate for individuals under the age of 60 is 7.25%, while it is 7.75% for senior citizens and 8.05% for super senior citizens.

Table showing PNB FD rates for individuals below 60 years age

Serial number	Period	Revised Rates For Public W.E.F. 01.08.2024 (below 60 years)
1.	7 to 14 Days	3.5%
2.	15 to 29 Days	3.5%
3.	30 to 45 Days	3.5%
4.	46 to 60 Days	4.5%
5.	61 to 90 Days	4.5%
6.	91 to 179 Days	4.5%
7.	180 to 270 Days	6.25%
8.	271 Days to 299 Days	6.5%
9.	300 Days	7.05%
10.	301 Days to < 1 Year	6.5%
11.	1 Year	6.8%
12.	> 1 Year to 399 days	6.8%
13.	400 Days	7.25%
14.	401 Days to 2 Years	6.8%
15.	> 2 years to 3 Years	7%
16.	> 3 years to 1203 Days	6.5%
17.	1204 Days	6.4%
18.	1205 days to 5 years	6.5%
19.	> 5 years to 1894 days	6.5%
20.	1895 Days	6.35%
21.	1896 days to 10 years	6.5%

Source: PNB website as of August 2, 2024

Table showing PNB FD rates for senior citizens

Serial number	Period	Revised Rates For Senior Citizens W.E.F. 01.08.2024
1.	7 to 14 Days	4%
2.	15 to 29 Days	4%
3.	30 to 45 Days	4%
4.	46 to 60 Days	5%
5.	61 to 90 Days	5%
6.	91 to 179 Days	5%
7.	180 to 270 Days	6.75%
8.	271 Days to 299 Days	7%
9.	300 Days	7.55%
10.	301 Days to < 1 Year	7%
11.	1 Year	7.3%
12.	> 1 Year to 399 days	7.3%
13.	400 Days	7.75%
14.	401 Days to 2 Years	7.3%
15.	> 2 years to 3 Years	7.5%
16.	> 3 years to 1203 Days	7%
17.	1204 Days	6.9%
18.	1205 days to 5 years	7%
19.	> 5 years to 1894 days	7.3%
20.	1895 Days	7.15%
21.	1896 days to 10 years	7.3%

Table showing FD rates for super senior citizens

Serial number	Period	Revised Rates For Super Senior Citizens W.E.F. 01.08.2024
1.	7 to 14 Days	4.3%
2.	15 to 29 Days	4.3%
3.	30 to 45 Days	4.3%
4.	46 to 60 Days	5.3%
5.	61 to 90 Days	5.3%
6.	91 to 179 Days	5.3%
7.	180 to 270 Days	7.05%
8.	271 Days to 299 Days	7.3%
9.	300 Days	7.85%
10.	301 Days to < 1 Year	7.3%
11.	1 Year	7.6%
12.	> 1 Year to 399 days	7.6%
13.	400 Days	8.05%
14.	401 Days to 2 Years	7.6%
15.	> 2 years to 3 Years	7.8%
16.	> 3 years to 1203 Days	7.3%
17.	1204 Days	7.2%
18.	1205 days to 5 years	7.3%
19.	> 5 years to 1894 days	7.3%
20.	1895 Days	7.15%
21.	1896 days to 10 years	7.3%

Source: PNB website as of August 2, 2024

Latest loan rates of PNB

PNB has not only changed its FD rates but it has also increased its Marginal Cost of Lending Rate (MCLR) with effect from August 1, 2024

MCLR Tenor	Existing w.e.f 01.07.2024	Revised w.e.f 01.08.2024
Overnight	8.25%	8.3%
One month	8.3%	8.35%
Three month	8.5%	8.55%
Six month	8.7%	8.75%
One year	8.85%	8.9%
Three years	9.15%	9.2%

Source: PNB website as of August 2, 2024