The Punjab Nationwide Financial institution (PNB) has slashed the rate of interest on financial savings accounts for balances under ₹10 lakh to 2.70 per cent per yr. The financial institution has additionally lowered the rates of interest on financial savings accounts with balances of greater than ₹10 lakh to 2.75 per cent. The brand new charges are efficient from 4 April 2022.
PNB Home & NRI Saving Account Curiosity Charges : (W.E.F. 04th April 2022)
Saving Fund Account Steadiness under ₹10 Lakh -2.70% p.a.
Saving Fund Account Steadiness of ₹10 Lakh & above – 2.75% p.a.
In February too, PNB too decreased the rates of interest on financial savings accounts, offering 2.75 per cent on accounts with lower than ₹10 lakh and a couple of.80 per cent on accounts with balances of greater than ₹10 lakh.
PNB had earlier lowered the rates of interest on saving accounts in December 2020 and was providing 2.80% on accounts having lower than ₹10 lakh and a couple of.85% on financial savings accounts having greater than RS 10 lakh to and under ₹500 crore.
PNB newest FD rates of interest
PNB affords fastened deposits maturing in 7 days to 10 years at rates of interest starting from 2.90 per cent to five.25 per cent.
PNB makes it obligatory for verification of high-value cheques
In a transfer to guard the financial institution clients in opposition to massive worth cheque frauds, Punjab Nationwide Financial institution (PNB) to make the Optimistic Pay System (PPS) obligatory for the cheque of Rs10 Lacs & above from right now, April 4, 2022.
PNB clients must share particulars like account quantity, cheque quantity, cheque alpha code, challenge date, quantity, and beneficiary identify for clearing the high-value cheques below PPS.
Supply: Live Mint