PNB interest rates hiked

new Delhi:

The impact of inflation on the country's economy remained in the year 2022 and the pressure on the government to take such steps so that people get relief from inflation.

The government achieved some success till the end of the year in controlling inflation by using all the weapons available with the government and RBI chief Shaktikanta Das has recently said that some more steps are needed to be taken. So that inflation can be kept under control.

Obviously, to control inflation in the market, the government takes steps to reduce cash from the market and also takes steps to reduce the amount of cash in the hands of the people or to say, the purchasing power of the people.

Under this step, the repo rate was increased by the RBI continuously in the last few quarters so that the loan becomes expensive and the cash from the market is also reduced. 

If seen, now is the golden time for those who invest their money in safe investments.

Banks are also under pressure to pay more interest on deposits.

As soon as the new year begins, some banks have also announced an increase in interest rates on cash deposits and it is possible that churning will be going on in other banks or NBFCs in this regard. 

Explain that from January 2023, the Finance Ministry has announced to increase the interest rate on some small savings schemes from 0.20 to 1.10%.

This increase has been done for the second consecutive quarter.

This step of the government will benefit the customers who deposit in the post office.

As of now, some banks including Shriram Finance and PNB have changed their FD rates and this will directly benefit senior citizens, women and other people as well and cash deposits in banks are going to increase.

Punjab National Bank (PNB) Punjab National Bank has given New Year's gift to its customers by increasing the interest rates.

The bank has increased the interest rates offered on Fixed Deposit.

According to the website of PNB PNB, the new rates have become effective from January 1, 2023.

Savings Account PNB has increased the interest rates by up to 25 basis points.

At the same time, interest rates on Fixed Deposit have been increased by up to 50 basis points. 

According to the bank's site, 


we are going to tell you where PNB has increased the interest rates.

PNB has increased the interest rates on deposits up to one year.

Now fixed deposit from PNB, which is called fixed deposit or FD, becomes easier to understand but has announced to pay interest at the rate of 6.75 per annum.

This has come into force from 1 January 2023.

At the same time, earlier interest was being given on this deposit at the rate of 6.30 percent per annum.

On the other hand, senior citizens were earlier being given interest at the rate of 6.80 per cent per annum on the same time deposit, which has now been reduced to 7.25 per cent per annum.

Along with this, super senior citizens will get interest at the rate of 7.55 percent per annum for the same deposit period.

Earlier this interest rate used to be 7.10 percent per annum.

Along with this, PNB has also announced an increase in interest rates for deposits of 665 days from one year.

Now interest rate will be paid on this deposit at 6.75 percent, while earlier it used to be 6.30 percent per annum.

Earlier this rate for senior citizens used to be 6.80 per cent per annum, which has now been reduced to 7.25 per cent per annum.

Along with this, people falling in the category of super senior citizens will be given interest at the rate of 7.55 percent per annum for deposits made during the same period.

At the same time, earlier interest was being given at the rate of 7.10 percent per annum.

Apart from this, Punjab National Bank has also increased the interest rates on deposits ranging from 667 days to 2 years from January 1, 2023.

This interest rate for common people has now become 6.75 percent per annum.

Earlier it used to be 6.30 percent annually.

For senior citizens also, interest rates have been increased in deposits on this time period.

Now it has become 7.25 per cent per annum whereas earlier it used to be 6.80 per cent per annum.

With this, super senior citizens will be given interest at the rate of 7.55 percent per annum for the deposit of this period, whereas earlier this interest rate used to be 7.10 percent per annum.

Punjab National Bank has also announced to increase the interest rates on deposits from two years to three years.

The bank will now give interest at the rate of 6.75 percent to the common citizens.

Wherein it used to be 6.25 percent earlier.

It will be given at the rate of 7.25 to senior citizens, whereas earlier it was given to them at the rate of 6.75 percent per annum for the same period.

Apart from this, this interest rate will be given to the super senior citizen at the rate of 7.55 percent per annum, which used to be 7.05 percent earlier.

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