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| Interest rates on deposits increased from today | | PNB ‘Maha Bachat’ evokes good response | | JAMMU, MARCH-01
Under the newly launched scheme ,‘Maha Bachat’, the Punjab National Bank has increased the rate of interest on deposits to 9.50 per cent for maturity period of one year with effect from today. The senior citizens would however, get additional 0.25 per cent interest, a Bank hand out said here today.
Vivek Arya Zonal Manager J&K Zone said that the bank has launched a new scheme ‘PNB Maha Bachat’ for a limited period from February 1 last to April 30 this year where in interest on FDR for one year will be 9.50 per cent for 2 years, 9.25 per cent and for three years the interest rate would be 9 per cent. Minimum deposits under the scheme will be Rs.25000 and the lock-in-period would be one year. However, the senior citizens would get 0.25 per additional interest, he added.
He said the scheme will be available at all the 73 branches of the bank in Jammu and Kashmir Zone and added that the scheme is becoming popular amongst the masses and the deposit rates offered by the bank in the market are the best rates.
Zonal Manager further said that for deposits of Rs. five crore and above, Bank gives very attractive DRI rates on day to day basis.
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