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Punjab National Bank changes FD interest rates, now maximum 5.10% interest will be available

Punjab National Bank (PNB) has revised interest rates on fixed deposits (FDs) of less than Rs 2 crore. Now you will get interested from 2.9% to 5.25% on getting FD in PNB Bank. The new rates of the bank have come into effect from May 7.


Now how much interest is getting on FD for which tenure?

period Interest Rate (in %)
7 to 45 days 3.00
46 to 90 days 3.25
91 to 179 days 3.80
180 to 270 days 4.40
271 days or more but less than 1 year 4.40
1 year 5.10
1 year 1 day to 2 years 5.10
2 years 1 day to 3 years 5.10
3 years 1 day to 10 years 5.10

Many banks including ICICI and HDFC have made changes

With this, ICICI, HDFC and Indian Overseas Bank have recently changed the interest on FD. ICICI Bank is now giving a maximum interest of 5.45% to common citizens while HDFC 5.60% interest on FD.

Here, see which bank is giving how much interest on FD

Interest on 1 year FD

Bank Interest Rate (in %)
PNB 5.10
ICICI 5.00
SBI 5.20
HDFC 5.10
Indian Overseas 5.20
post office 5.50

Interest on FD of 2 years

Bank Interest Rate (in %)
PNB 5.10
ICICI 5.00
SBI 5.20
HDFC 5.10
Indian Overseas 5.20
post office 5.50

Interest on FD of 3 years

Bank Interest Rate (in %)
PNB 5.10
ICICI 5.20
SBI 5.30
HDFC 5.30
Indian Overseas 5.45
post office 5.50

Interest on FD of 5 years

Bank Interest Rate (in %)
PNB 5.10
SBI 5.40
HDFC 5.45
Indian Overseas 5.45
ICICI 5.45
post office 6.70

Tax is also to be paid on the interest received from FD,
if the interest received on bank FD in a financial year is less than 40 thousand rupees, then no tax has to be paid on it. This limit is for people below 60 years of age. At the same time, income up to 50 thousand rupees from FD of senior citizens above 60 years of age is tax-free. 10% TDS is deducted on income above this.

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