Punjab National Bank (PNB) has slashed interest rate on savings accounts for balance below 10 lakh to 2.70 percent per annum. The bank has also reduced interest rates on savings accounts with balances of more than Rs. 10 lakh to 2.75 per cent. The new rates are effective from 4 April 2022.
PNB Domestic & NRI Savings Account Interest Rates: (WEF 04 Apr 2022)
Savings Fund Account Balance Down 10 lakh -2.70% p.a.
savings fund account balance 10 lakh and above – 2.75% p.a.
even in february PNB Also reduced interest rates on savings accounts, providing 2.75 percent on accounts with at least Rs. 10 lakh and 2.80 per cent on accounts with a balance of more than 10 lakhs.
PNB had earlier reduced interest rates on savings accounts in December 2020 and was offering 2.80% on accounts with less than Rs. 10 lakh and 2.85% on savings accounts of Rs 10 lakh and below 500 crores.
PNB Latest FD Interest Rates
PNB offers fixed deposits maturing in 7 days to 10 years at interest rates ranging from 2.90 per cent to 5.25 per cent.
PNB makes verification of high denomination checks mandatory
In order to protect bank customers from large value check frauds, Punjab National Bank (PNB) has made Positive Payment System (PPS) mandatory for checks of Rs 10 lakh and above with effect from April 4, 2022.
PNB Customer To clear high value checks under PPS, details like account number, check number, check alpha code, date of issue, amount and beneficiary name need to be shared.
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