PNB hikes fixed deposit rates. How they compare with SBI, Bank of Baroda. Which bank is offering better FD returns?

Punjab National Bank has revised fixed deposit (FD) interest rates on amounts below 2 crore. The bank has hiked up to 50 basis points (bps) on certain tenures. The new rates are effective from January 1, 2024. PNB has also reduced FD rates on some buckets.

The bank has hiked interest rates on the tenure of 180 to 270 Days by 50 bps. These term deposits will now fetch 6% for general citizens. PNB has hiked FD rates 45 bps on 271 Days to less than 1 year tenure. These FDs will now fetch 7.25% for general citizens. On tenor with 400 days maturity, PNB has hiked rates by 45 bps from 6.80% to 7.25%. After the revision, PNB offers 3.5% to 7.25% to general citizens on deposits maturing in 7 days to ten years.

PNB cuts FD rates on this tenure

Punjab National Bank has cut FD rates on 444 days by 45 bps from 7.25% to 6.8%.

PNB latest FD rates for senior citizens, super senior citizens

After the latest revision, PNB offers an interest rate ranging from 4% to 7.75% on FDs maturing in seven days to ten years, and 4.3% to 8.05% to super seniors.

SBI latest FD rates

The State Bank of India (SBI) has hiked interest rates on fixed deposits (FDs). This interest rate is applicable on FDs below 2 crore. The new rate is effective from today, 27 December 2023. After the latest hike, SBI offers rates ranging from 3.5 to 7% on deposits maturing in seven days to ten years. Senior citizens will get 50 basis points (bps) extra on these deposits.

Bank of Baroda latest FD rates

Bank of Baroda has hiked interest rates on retail term deposits from 10 basis points to up to 125 basis points on various maturity buckets.These rates are applicable on deposits below 2 crore with effect from today, December 29. After the latest hike, BoB offers an interest range ranging from 4.25 % to 7.255 to general customers. Bank of Baroda offers senior citizens an interest rate ranging from 4.75% to 7.75% on deposits maturing in seven days to ten years.

 

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Published: 04 Jan 2024, 08:12 AM IST

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