PNB FD Interest Rates 2023: Everyone aspires to save money for a time when they will need it. FDs are a great method to accumulate savings and receive interest on your money. A reliable tool to have on hand in case of monetary difficulties is an FD. Depending on the bank, you may be able to borrow up to 95% of the value of the fixed deposit. It is therefore a reliable investment. The PNB’s FD interest rates recently underwent a modification. Customers who have made FDs would now receive an annual interest rate of 7.25 percent on FDs of less than Rs 2 crore, the bank recently said. Senior folks, however, receive interest rates of 7.75 percent.
PNB FD Interest Rates 2023: New scheme
PNB offers interest on 5-year FDs at a rate of 6.5 percent annually to regular customers. A customer who deposits Rs. 10 lakh will receive Rs. 1380420 when the FD matures. Similar to this, senior citizens receive 7% yearly interest on 5-year fixed-term deposits. While PNB offers a 666-day FD programme with interest rates of 7.25 percent for regular customers and 7.75 percent for senior citizens, this rate is only applicable to deposits under Rs 2 crore. On a 5-year FD, tax can be claimed under Section 80C of the Income Tax at the same time. The interest earned on FDs is taxed, though.
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