Interest rates

National Bank of Punjab revises interest rates on national savings accounts and NRIs

Business

oi-Vipul Das

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Public sector lender Punjab National Bank revised its interest rates on national savings accounts and NRIs. According to the bank’s official website, the new rates are effective January 1, 2022. Customers will now receive an interest rate of 2.80% per annum on account balances below Rs. 10 lakh, 2.85 % pa on account balances of Rs.10 lakh and more below Rs.500 crore, and 3.25% pa on account balances of Rs.500 crore and more, following the most recent revision.

2022 National Bank of Punjab Savings Account Interest Rate

The current interest rates for Punjab National Bank National Savings Accounts and NRIs are listed below (WEF January 1, 2022).

Balance Interest rate
Savings fund account balance less than Rs. 10 lakh 2.80% per year
Savings fund account balance of Rs. 10 Lakh and above Rs. 500 Crore 2.85% pa
Savings fund account balance of Rs. 500 Crore and above 3.25% per year
Source: Bank website

Customers can choose from a variety of bank savings account products. PNB offers savings account plans that meet a wide range of financial and banking requirements of its clients, such as PNB Unnati savings account, PNB savings account product for premium clients, the system deposit PNB SF Prudent Sweep for individuals, PNB SF Prudent Sweep for Institutional accounts, PNB Junior Sf Account, Basic Saving Bank Deposit Account (BSBDA), PNB Rakshak Scheme, Scheme For Fournir Overdout Facility To Pensions, PNB Power Savings, PNB Samman Saving Account, PNB MySalary Account, Premium Saving Account PNB Best Customer, PNB Pratham Savings account and PNB ‘Select’ savings account.

PNB, on the other hand, recently launched a “New Year Bonanza” offering for its customers. The bank announced on its Twitter account that “It’s a good year with the new Bonanza year. Apply for loans at attractive rates and start your year on a high note! As part of the ‘New Year Bonanza’ offer, the bank promises an interest rate of 6.50% on home loans, 6.65% on car loans and 8.90% on personal loans. Customers can give a missed call at 1-800-180-8888 to learn more about the bank’s loan products.

Article first published: Sunday, January 2, 2022, 12:02 p.m. [IST]