One of the leading public sector financial organizations, Punjab National Bank is offering its customers with fixed deposit schemes at lucrative rates and flexible tenures. However, these rates are prone to change according to the bank’s market conditions.
For the holding period of 29 days, the rate of interest stands at 4.25% per annum, best suitable for those with near-term liquidity requirements. For the tenures ranging from 46 days to three months, the rate of interest is calculated at 6% per annum which is increased to 6.25% per annum for the holding period of 3-6 months. It is further increased by 0.25% to 6.5% per annum for the deposit period of six to nine months. 6.5% is the rate similar for the tenure of six months and nine months.
Punjab National Bank’s medium and long term fixed deposit tenures ranges from one year and up to five years for which the rates vary from 6.7% to 6.9% per annum. For the holding period of one year, the returns can be pegged at 6.9% per annum. It eventually drops by 0.10% to 6.8% per annum for the holding period of 1-2 years. Moreover, it is further dropped by 0.90% to 6.7% per annum and remains constant for the holding period of 2-5 years.
Punjab National Bank offers the senior citizens with an additional 0.5% on all the existing rates.
Those looking to invest in some profitable products can look for PNB FD scheme with competitive rates making them an attractive investment options.