(Anjali Shreya, Intern Journalist): Bank FD (Fixed Deposit) still remains the first option of savings for many people. Although interest rates on FDs have come down considerably at present, it is popular due to being an easy and largely safe option for investment. Banks have an FD facility ranging from 7 days to 10 years. People can get short or long term FD according to their convenience. At present, in the case of FDs of less than Rs 2 crore in 5 big banks of the country, SBI, PNB, Bank of Baroda, HDFC Bank, and ICICI Banks, on which period the interest rate is applicable.
PNB
The annual interest rates for Punjab National Bank in the case of eligible domestic term deposits of less than Rs 2 crore are like this…
• 3% for 7 days to 45 days, 3.75% for senior citizens
• 3.25% on 46-90 day period, 4% for senior citizen
• 4% on 91-179 day period, 4.75% for senior citizen
• 4.40% on 180-270 day period, 5.15% for Senior Citizen
• 4.50% on period less than 1 year from 271 days, 5.25% for senior citizen
• 5.25% for 1 to 3 years, 6% for senior citizens
• 5.30% for the period from 3 to 10 years, 6.05% for senior citizens
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