SBI PNB and IDBI FD New Interest Rate:
The three largest banks in the country – SBI PNB and IDBI – have announced an increase in the interest on fixed deposit (FD). This means that if you have made a fixed deposit of money in these banks for a fixed period of time, you will enjoy a higher rate of return.
The new interest rates of SBI and PNB will be implemented across the country from June 14, 2022. While IDBI’s new interest rate will be applicable from 15th June 2022 i.e. today.
SBI changes interest rates
SBI has hiked interest rates on fixed deposits (FDs) by 0.15 to 0.20 per cent. According to SBI, FDs maturing in less than Rs 2 crore and maturing in 211 days to 3 years will get higher interest. This means that the interest rate on FDs from 7 days to 210 days will remain the same. While the interest rate on FDs of 211 days to less than 2 years has been increased by 0.20 per cent. The interest rate on FDs from 2 years to less than three years has been increased by 0.15 per cent. Also, there has been no change in the interest rate of FDs from 3 years to 10 years.
New interest rates of SBI FD
2.90 per cent from 7 days to 45 days
3.90 per cent from 46 days to 179 days
180 days to 210 days 4.40 per cent
More than 211 days but less than 1 year 4.60 per cent
More than 1 year but less than 2 years 5.30 per cent
Over 2 years but less than 3 years 5.35 per cent
More than 3 years but less than 5 years 5.45 per cent
Over 5 years and up to 10 years 5.50 per cent
SBI FD rates for senior citizens
3.40 per cent from 7 days to 45 days
46 days to 179 days 4.40 per cent
180 days to 210 days 4.90 per cent
More than 211 days but less than 1 year 5.10 per cent
More than 1 year but less than 2 years 5.80 per cent
Over 2 years but less than 3 years 5.85 per cent
Over 3 years but less than 5 years 5.95 per cent
Over 5 years and up to 10 years 6.30 per cent
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PNB’s new FD interest rate
Punjab National Bank (PNB) has hiked interest rates on fixed deposits (FDs) by 25 basis points.
7 to 45 days – 3%
46 to 90 days -3.25 per cent
91 to 179 days – 4 per cent
180 days to less than 1 year – 4.5 per cent
Between 1 year and 2 years – 5.2 per cent
Over 2 years and up to 3 years – 5.30 per cent
More than 3 years and less than 5 years – 5.50 per cent
More than 5 years and less than 10 years – 5.60 per cent
IDBI’s new FD interest rates
The interest rate on term deposits of less than Rs 2 crore from IDBI has been increased by 25 basis points. IDBI’s increased interest rates will be effective from June 15, 2022. These interest rates will apply to Domestic Term Deposit, Non-Resident Ordinary (NRO) and Non-Resident Ordinary (NRE) Term Deposit.
91 days to 6 months – 4 per cent
3 years to 5 years – 5.60 per cent
Up to 5 years – 5.75 per cent
5 years to 7 years – 5.75 per cent
7 years to 10 years – 5.75 per cent
Tax saving FD (5 years) – 5.75 per cent
Less than Rs. 2 crore for senior citizen
91 days to 6 months – 4.50 per cent
3 years to 5 years – 6.35 per cent
Up to 5 years – 6.50 per cent
5 years to 7 years – 6.50 per cent
7 years to 10 years – 650 per cent
Tax savings (5 years) – 6.50 per cent
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