Bad news for PNB customers! Bank reduces interest rates on Savings account–Check latest rates here

News

New Delhi: Punjab National Bank (PNB) has revised Domestic & NRI Saving Account Interest Rates with effect from 3 February 2022.

Here are the revised rates.

Rate Of Interest
Saving Fund Account Balance below Rs. 10 Lakh 2.75% p.a.
Saving Fund Account Balance of Rs.10 Lakh & above to below Rs.500 Crore 2.80% p.a.
Saving Fund Account Balance of Rs.500 Crore & above 3.25% p.a.

PNB was earlier offering 2.80% interest on Saving Fund Account Balance below Rs 10 Lakh and 2.85 percent on Saving Fund Account Balance of Rs10 Lakh & above to below Rs 500 crore.

PNB had reported a two-fold jump in standalone net profit to Rs 1,126.78 crore for the third quarter ended December, as bad loans marginally declined. The country’s second-largest public sector lender had earned a net profit of Rs 506.03 crore in the year-ago period.

However, total income during October-December 2021 declined to Rs 22,026.02 crore as against Rs 23,298.53 crore a year ago, PNB said in a regulatory filing.

Source:-zeenews