Punjab National Bank (PNB) has already made the preparations to give a big blow to its account holders. The PNB bank has decided to change its interest rates for saving accounts. The bank has reduced the interest rates from 1st December 2021. As per the information on the official website of Punjab National Bank, the interest rate of a savings account will be cut.
How Much Will Be The Interest Now?
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The bank has been decided to reduce the interest rate on the savings account from 2.90% per annum to 2.80%.
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This decision of the PNB Bank will affect both new & old customers.
How Much Interest Will Get On How Much Balance?
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From 1st December 2021, the interest rate will be 2.80% per annum from savings fund account balance less than Rs 10 lakhs in saving account.
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At the same time, Rs 10 lakhs & above, the interest rate will be 2.85% per annum.
What Are The Interest Rates In Public Sector Banks?
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Bank of Baroda: 2.75% to 3.20%
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IDBI: 3% to 3.25%
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Canara Bank: 2.90% to 3.20%
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Punjab & Sind Bank: Getting 3.10%
Private Banks to Give 3% to 5% Interests
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ICICI Bank: 3% to 3.5%
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HDFC Bank: 3% to 3.5%
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IndusInd Bank: 4% to 5%
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Kotak Mahindra Bank: 3.5%
About PNB
Punjab National Bank (PNB) is India's first Swadeshi Bank, commenced its operations on April 12, 1895, from Lahore, with an authorized capital of Rs 2 lakh and working capital of Rs 20,000.
The PNB Bank was established by the spirit of nationalism & it was the first bank purely managed by the Indians with Indian Capital. During the long history of the Bank, there are 9 banks, which have been merged/ amalgamated with the Punjab National Bank (PNB).
For more in-depth details of PNB Bank & the Facilities, that the bank provides, kindly visit the official website via: https://www.pnbindia.in/home.aspx
