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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