According to Punjab National Bank (PNB), the interest rates available to customers on savings accounts are being cut. Let us know how much interest you will get after this deduction. Also know how much interest the other government and private sector banks of the country are paying on the savings account at this time.
New Delhi. If you are also a customer of Punjab National Bank (PNB), then this news is of your use. Actually, the bank has made preparations to give a big blow to its account holders. The bank is going to reduce the savings of its customers. In other words, the bank is going to cut the interest rate on the savings account. Punjab National Bank is going to reduce the interest rate on savings account deposits from December 1, 2021.
According to the official website of the bank, it has been decided to reduce the interest rates on savings accounts from 2.90 per cent per annum to 2.80 per cent. This decision of the bank will affect both new and old customers as well as NRI customers. Earlier, on September 1, 2021, PNB had reduced the interest rate on savings account to 2.90 percent.
How much interest will be received on how much balance?
According to Punjab National Bank, from December 1, 2021, the interest rate will be 2.80 percent per annum for savings fund account balance less than Rs 10 lakh in savings account. At the same time, for Rs 10 lakh and above, the interest rate will be 2.85 percent per annum.
SBI has also reduced interest rates
The country’s largest government lender State Bank of India (SBI) gives an interest rate of 2.70 percent per annum on savings accounts. SBI gives 2.70 percent interest on deposits up to Rs 1 lakh.
What are the interest rates in public sector banks
- IDBI Bank – 3 to 3.25 percent
- Canara Bank – 2.90 percent to 3.20 percent
- Bank of Baroda – 2.75 percent to 3.20 percent
- Punjab and Sind Bank – getting 3.10 percent interest
Private banks are giving 3 to 5 percent interest
- HDFC Bank – 3 to 3.5 percent
- ICICI Bank – 3 to 3.5 percent
- Kotak Mahindra Bank – 3.5%
- IndusInd Bank – 4 to 5 percent
