PNB And Canara Bank Revises Fixed Deposit Interest Rates From June; Details Here

Canara Bank’s revised FD interest rates now range from 4 per cent to 7 per cent per annum for general depositors, with senior citizens receiving an extra 50 basis points

Punjab National Bank (PNB) and Canara Bank, two major state-owned lenders, have updated their fixed deposit (FD) interest rates starting June 1, 2025. These changes affect various deposit tenures and offer senior citizens additional benefits.

Punjab National Bank's New FD Rates

Punjab National Bank now provides interest rates ranging from 3.50 per cent to 6.90 per cent per annum on fixed deposits below Rs 3 crore for general account holders. Senior citizens are entitled to an additional 50 basis points (0.50 per cent) on these rates.

For short-term deposits, PNB offers 3.5 per cent interest for tenures of 7 to 45 days, while deposits held for 46 to 90 days earn 4.5 per cent. For tenures between 91 and 179 days, the rate rises to 5.50 per cent.

Longer tenures see more competitive rates: deposits held for 180 to 270 days fetch 6 per cent, while those between 271 and 302 days receive 6.25 per cent. The interest for a one-year fixed deposit stands at 6.70 per cent, increasing slightly to 6.90 per cent for a 390-day tenure. For deposits extending up to five years, rates fluctuate between 6.40 per cent and 6.70 per cent, depending on the exact duration.

Canara Bank Cuts FD Rates For Certain Tenures

Canara Bank’s revised FD interest rates now range from 4 per cent to 7 per cent per annum for general depositors, with senior citizens receiving an extra 50 basis points. The updated rates also took effect on June 1.

Notably, Canara Bank has lowered the interest rate on its one-year FD by 10 basis points, from 6.85 per cent to 6.75 per cent. Additionally, fixed deposits held between three to five years now earn 6.75 per cent, down from the previous 7 per cent.

The bank’s highest interest rate of 7 per cent applies to a 444-day tenure. Deposits between one and two years yield 6.85 per cent, while those between two and three years earn 6.9 per cent. The interest rate for fixed deposits ranging from five to ten years stands at 6.70 per cent.