Bank

PNB versus HDFC Bank versus SBI; Check the detailed comparison of the latest interest rates

As banks raise interest rates on fixed deposits (FD) after the Reserve Bank of India (RBI) raised its key repo rate to control inflation, the Punjab National Bank (PNB) is the latest lender to join the list. It has raised its interest rates on term deposits to below Rs 2 crore, which will come into effect on Monday, July 4.

Recently, several lenders including ICICI Bank, State Bank of India and HDFC Bank have raised their interest rates for deposits and loans. Here is the comparison of current fixed deposit (FD) interest rates offered by three lenders Punjab National Bank (PNB), HDFC Bank and State Bank of India (SBI) on deposits below Rs 2 crore:
Punjab National Bank FD Interest Rate (on deposits below Rs 2 Crore):

7 days to 14 days: For the general public – 3.00%; For seniors – 3.50%

15 days to 29 days: For the general public – 3.00%; For seniors – 3.50%

30 days to 45 days: For the general public – 3.00%; For seniors – 3.50%

46 days to 90 days: For the general public – 3.25%; For seniors – 3.75%

91 days to 179 days: For general public – 4.00%; For seniors – 4.50%

180 days to 270 days: For the general public – 4.50%; For seniors – 5.00 percent

271 days to less than 1 year: For the general public – 4.50%; For seniors – 5.00 percent

1 year: For the general public – 5.30%; For seniors – 5.80%

Above 1 year to 2 years: For the general public – 5.30%; For seniors – 5.80%

Over 2 to 3 years: For the general public – 5.50%; For the elderly – 6.00 percent

Over 3 to 5 years: For the general public – 5.50%; For the elderly – 6.00 percent

Over 5 to 10 years: For the general public – 5.60%; For the elderly – 6.10%

1111 days: For the general public – 5.50%; For the elderly – 6.00 percent.
HDFC Bank FD Interest Rate (on deposits below Rs 2 Crore):

7 days to 14 days: For the general public – 2.75%; For seniors – 3.25%

15 days to 29 days: For the general public – 2.75%; For seniors – 3.25%

30 days to 45 days: For the general public – 3.25%; For seniors – 3.75%

46 days to 60 days: For the general public – 3.25%; For seniors – 3.75%

61 days to 90 days: For the general public – 3.25%; For seniors – 3.75%

91 days to 6 months: For the general public – 3.75%; For seniors – 4.25%

6 months 1 day to 9 months: For the general public – 4.65%; For seniors – 5.15%

9 months 1 day to 9 months: For the general public – 4.65%; For seniors – 5.15%

1 year: For the general public – 5.35%; For seniors – 5.85%

1 year 1 day to 2 years: For the general public – 5.35%; For seniors – 5.85%

2 years 1 day to 3 years: For the general public – 5.50%; For the elderly – 6.00 percent

3 years 1 day to 5 years: For the general public – 5.70%; For seniors – 6.20%

5 years 1 day to 10 years: For the general public – 5.75%; For the elderly – 6.50%.
State Bank of India FD Interest Rate (on deposits below Rs 2 Crore):

7 days to 45 days: For the general public – 2.90%; For the elderly – 3.40%

46 days to 179 days: For the general public – 3.90%; For the elderly – 4.40%

180 days to 210 days: For the general public – 4.40%; For seniors – 4.90%

211 days to less than 1 year: For the general public – 4.60%; For seniors – 5.10%

1 year to less than 2 years: For the general public – 5.30%; For seniors – 5.80%

2 years to less than 3 years: For the general public – 5.35%; For seniors – 5.85%

3 years to less than 5 years: For the general public – 5.45%; For seniors – 5.95%

5 years up to 10 years: For the general public – 5.50%; For the elderly – 6.30%.

To control inflation, the Reserve Bank of India (RBI) raised the policy rate in early June by 50 basis points (bps), which was the second hike in nearly a month after the Monetary Policy Committee of the central bank rose 40 basis points in off-cycle policy review in May. Retail price inflation in May stood at 7.04%, which is above the target limit of 2-6% set by the RBI.

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