Canara Bank and Punjab National Bank revised their fixed deposit interest rates. These interest rates are based on retail term deposits less than Rs 3 crore which are effective June 1,2025. Both banks have cut rates on many key tenures, PNB has increased rates on select long-term deposits.
FD interest rates on callable fixed deposits between 4% and 7% for general customers are offered by Canara Bank. Senior citizens get between 4% and 7.50%.
For FD tenures of 3 years and above but less than 5 years, the rate has been lowered by 25 bps, from 7% to 6.75%. For the one-year tenure, Canara Bank has reduced the FD interest rate by 10 basis points (bps), from 6.85% to 6.75%.
Term Deposits( All Maturities) from 7 Days to 45 Days offer the General Public 4% rate of interest. For senior citizens as well, it offers 4% interest rate. For 46 Days to 90 Days, the rate of interest is 5.25 for general public and the same for senior citizens.
For 91 days to 179 days, interest rate is 5.5% and the same interest rate for senior citizens. For 180 days to 269 days, the interest rate is 6.15 and for senior citizens, it is 6.65. For 270 days to less than one year, the interest rate is 6.25% and for senior citizens it is 6.75%.
For one year, the interest rate is 6.75 for the general public and 7.25 for senior citizens. For 444 days, 7% interest rate is applicable and for senior citizens, 7.5.
For above 1 year to less than 2 years, 6.85% of interest rate is applicable for the general public and 7.35 for senior citizens. For 2 years and above to less than 3 years 6.9 interest rate is applicable and 7.4 for senior citizens. For 3 years and above to less than 5 years, 6.75 interest rate is applicable and 7.25 for senior citizens. For 5 years and above to 10 years, 6.7% interest rate is applicable and 7.2 for senior citizens.
After revision, Punjab National Bank offers fixed deposit interest rates between 3.50% and 6.90% for tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 6.9% is offered on a tenure of 390 days. Earlier, the highest interest rate of 7% was offered on a tenure of 390 days.
For senior citizens, the bank offers interest rates ranging from 4.00% to 7.40%. For super senior citizens, the rates are slightly higher, ranging from 4.30% to 7.70% after revision .
or FD tenures of more than 1 year to 389 days, Punjab National Bank (PNB) has reduced the FD interest rate by 10 basis points (bps), from 6.80% to 6.70%. On the 390-day tenure, the rate has been revised from 7% to 6.90%. For tenures ranging from 391 days to 505 days, the rate has been lowered from 6.80% to 6.70%, while the 506-day tenure now offers 6.60%, down from 6.70%. For tenures between 507 days and 2 years, the rate has been cut from tenures of over 2 years up to 3 years, the interest rate has been reduced by 5 bps, from 6.75% to 6.70%.
