PNB cuts interest rates on savings accounts. Check latest rates here

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The Punjab National Bank (PNB) has slashed the interest rate on savings accounts for balances below 10 lakh to 2.70 per cent per year. The bank has also lowered the interest rates on savings accounts with balances of more than 10 lakh to 2.75 per cent. The new rates are effective from 4 April 2022.

PNB Domestic & NRI Saving Account Interest Rates : (W.E.F. 04th April 2022)

Saving Fund Account Balance below 10 Lakh -2.70% p.a.

Saving Fund Account Balance of 10 Lakh & above – 2.75% p.a.

In February too, PNB too reduced the interest rates on savings accounts, providing 2.75 per cent on accounts with less than 10 lakh and 2.80 per cent on accounts with balances of more than 10 lakh.

PNB had earlier lowered the interest rates on saving accounts in December 2020 and was offering 2.80% on accounts having less than 10 lakh and 2.85% on savings accounts having more than RS 10 lakh to and below 500 crore.

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 it mandatory for verification of high-value cheques

In a move to protect the bank customers against large value cheque frauds, Punjab National Bank (PNB) to make the Positive Pay System (PPS) mandatory for the cheque of Rs10 Lacs & above from today, April 4, 2022.

PNB customers need to share details like account number, cheque number, cheque alpha code, issue date, amount, and beneficiary name for clearing the high-value cheques under PPS.

 

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