PNB Hikes Interest Rate For Senior, Super Senior Citizens; Maximum Interest Rate 6.9%

Leading Indian public sector bank Punjab National Bank has hiked its fixed deposit (FD) interest rates for senior citizens and super senior citizens. It is worth noting that the bank has hiked interest rate on one tenor for senior citizens (above 60 years) and on all the tenors for the super senior citizens (above 80 years).

The interest rate has become effective beginning from September 13, 2022 and remains valid on deposits below Rs 2 crore.

According to the official website of the bank, the bank has hiked interest rates for fixed deposits for senior citizens on the tenor of 5 to 10 years while interest rates for all the tenors for super senior citizens have got revised.

The bank has hiked interest rates on FD for senior citizens by 30 bps on the 5 to 10 years tenor from 6.15% to 6.45%.

As per the bank's official website, "The senior citizens of age 60 years and up to 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5years and 80bps for a period above 5 years on domestic deposits of less than Rs 2 crore. In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 150 bps for a period upto 5 years and 180bps for period above 5 years."

Check the interest rates below:

For 7 to 45 Days: Senior Citizens 3.50%: Super Senior Citizens 3.80%

46 to 90 Days: Senior Citizens 3.75%: Super Senior Citizens 4.05%

91 -179 Days: Senior Citizens 4.50%: Super Senior Citizens 4.80%

180-270 Days: Senior Citizens 5%: Super Senior Citizens 5.30%

271 Days to

1 Year: Senior Citizens 6%: Super Senior Citizens 6.30%

1 Year to 404 Days: Senior Citizens 6%: Super Senior Citizens 6.30%

405 Days: Senior Citizens 6%: Super Senior Citizens 6.90%

406 Days to 2 Year: Senior Citizens 6%: Super Senior Citizens 6.30%

2-3 Years: Senior Citizens 6.10%: Super Senior Citizens 6.40%

3-5 Years: Senior Citizens 6.25%: Super Senior Citizens 6.55%

5- 10 Years: Senior Citizens 6.45% Super Senior Citizens 6.45%

1111 Days: Senior Citizens 6.25%: Super Senior Citizens: 6.55%