PNB: Punjab National Bank Is Going To Make Huge Change from December 1

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 1^st 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?

• The bank has been decided to reduce the interest rate on the savings account from 2.90% per annum to 2.80%.

• This decision of the PNB Bank will affect both new & old customers.

How Much Interest Will Get On How Much Balance?

• 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.

• 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?

• Bank of Baroda: 2.75% to 3.20%

• IDBI: 3% to 3.25%

• Canara Bank: 2.90% to 3.20%

• Punjab & Sind Bank: Getting 3.10%

Private Banks to Give 3% to 5% Interests

• ICICI Bank: 3% to 3.5%

• HDFC Bank: 3% to 3.5%

• IndusInd Bank: 4% to 5%

• 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