PNB cuts interest rates on savings accounts: Punjab National Bank cuts interest rates on savings accounts from September 1 – Punjab National Bank customers will now get lower returns on savings accounts.
- Now the branches of Oriental Bank of Commerce and United Bank of India are functioning as branches of PNB.
- The two banks have merged into PNB with effect from 1 April 2020.
- The new interest rate will apply to all savings fund accounts, existing and new.
Punjab National Bank customers will now get lower returns on savings accounts. This is because PNB has cut interest rates on savings accounts from September 1, 2021. This information is obtained from the official website of the bank. Punjab National Bank’s new interest rate will be 2.90 per cent per annum. Till now, the interest rate on both PNB savings accounts was less than Rs 100 crore and interest rate of Rs 100 crore or more was 3 per cent. The new interest rate of 2.90 per cent will be applicable on all existing and new savings fund accounts from September 1.
Public sector PNB is the second largest bank in the country. Now Oriental Bank of Commerce (OBC) and United Bank of India (UBI) are also part of Punjab National Bank. The two banks have merged into PNB with effect from 1 April 2020. So now the branches of Oriental Bank of Commerce and United Bank of India are functioning as branches of PNB.
Festival Bonanza also announced
With the festive season approaching, Punjab National Bank has introduced the Festival Bonanza offer to make loans easily available to its customers. As part of this festive offer, the bank is waiving all service charges / processing fees and documentation fees on all its major retail products such as home loans, auto loans, my property loans, pensions and gold loans.
Punjab National Bank is now offering attractive interest rates of 6.8 per cent on home loans and 7.15 per cent on car loans. The bank will provide personal loans to the general public at an interest rate of 8.95 per cent, the lowest in the banking industry. The bank has also announced a top-up with attractive interest rates on home loans. Until 31st December 2021, customers can avail these special offers at any PNB branch across the country or through digital channels.
Check the list on which day the banks will be closed in September
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