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The latest FD interest rate revisions, effective May 1, 2025, reflects a rate cut of up to 25 basis points (bps) on select short- and medium-term tenures.
Senior Citizens (between the age of 60 to 80 years) receive an extra 50 bps for deposits up to 5 years.
Punjab National Bank (PNB) has once again revised its fixed deposit (FD) interest rates for retail deposits below Rs 3 crore, just weeks after making similar changes in April 2025. The latest revision, effective May 1, 2025, reflects a rate cut of up to 25 basis points (bps) on select short- and medium-term tenures.
PNB FD Rate Cuts: What’s Changed?
After the latest revision, PNB now offers FD interest rates ranging from 3.50 per cent to 7.10 per cent for general citizens across maturities between 7 days and 10 years. The highest rate of 7.10 per cent is available on a 390-day deposit.
Senior and Super Senior Citizens Get More
PNB continues to offer preferential rates for elderly customers:
Senior Citizens (between the age of 60 to 80 years) will receive an extra 50 bps for deposits up to 5 years, and an extra 80 bps for deposits beyond 5 years. The effective interest rate will be 4.00 per cent to 7.60 per cent.
Super Senior Citizens (80 years & above) will also receive an additional 80 bps across all maturities. The effective interest rate will be 4.30 per cent to 7.90 per cent.
| Period | Revised Rates For Publicw.e.f. 01.05.2025 | Revised Rates for Senior Citizensw.e.f. 01.05.2025 | Revised Rates for Super Senior Citizensw.e.f. 01.05.2025 |
|---|---|---|---|
| 7 to 14 Days | 3.5% | 4% | 4.3% |
| 15 to 29 Days | 3.5% | 4% | 4.3% |
| 30 to 45 Days | 3.5% | 4% | 4.3% |
| 46 to 60 Days | 4.5% | 5% | 5.3% |
| 61 to 90 Days | 4.5% | 5% | 5.3% |
| 91 to 179 Days | 5.5% | 6% | 6.3% |
| 180 to 270 Days | 6% | 6.5% | 6.8% |
| 271 Days to 302 Days | 6.25% | 6.75% | 7.05% |
| 303 Days | 6.15% | 6.65% | 6.95% |
| 304 Days to | 6.25% | 6.75% | 7.05% |
| 1 Year | 6.7% | 7.2% | 7.5% |
| > 1 Year to 389 days | 6.8% | 7.3% | 7.6% |
| 390 days | 7.1% | 7.6% | 7.9% |
| 391 Days–505 Days | 6.8% | 7.3% | 7.6% |
| 506 Days | 6.7% | 7.2% | 7.5% |
| 507 Days to 2 years | 6.8% | 7.3% | 7.6% |
| > 2 years to 3 years | 6.75% | 7.25% | 7.55% |
| > 3 years to 1203 days | 6.25% | 6.75% | 7.05% |
| 1204 days | 6.15% | 6.65% | 6.95% |
| 1205 days to 5 years | 6.25% | 6.75% | 7.05% |
| > 5 years to 1894 days | 6% | 6.8% | 6.8% |
| 1895 days | 5.85% | 6.65% | 6.65% |
| 1896 days to 10 years | 6% | 6.8% | 6.8% |
Note: Rates effective from 01.05.2025. Senior Citizens are those aged 60+. Super Senior Citizens are those aged 80+.
Bandhan Bank Also Revises FD Rates
Bandhan Bank has also announced a revision in FD interest rates for amounts below Rs 3 crore, effective May 1, 2025.
For General Citizens: Interest rates now range from 3% to 7.75%, with the highest rate offered on a one-year tenure.
For Senior Citizens: Rates range from 3.75% to 8.25%, also peaking on the 1-year deposit.
| Maturity Bucket | Interest Rates for Non-Senior Citizens | Interest Rates for Senior Citizens |
|---|---|---|
| 7 days to 14 days | 3.00% | 3.75% |
| 15 days to 30 days | 3.00% | 3.75% |
| 31 days to less than 2 months | 3.50% | 4.25% |
| 2 months to less than 3 months | 4.50% | 5.25% |
| 3 months to less than 6 months | 4.50% | 5.25% |
| 6 months to less than 1 year | 4.50% | 5.25% |
| 1 year | 7.75% | 8.25% |
| 1 year 1 day to 1 year 9 months | 7.65% | 8.15% |
| 1 year 9 months 1 day to less than 2 years | 7.25% | 7.75% |
| 2 years to less than 3 years | 7.25% | 7.75% |
| 3 years to less than 5 years | 7.25% | 7.75% |
| 5 years to up to 10 years | 5.85% | 6.60% |
Last month, the Reserve Bank of India cut the key repo rate by 25 basis points to 6 per cent, for the second time in a row. The central bank is expected to reduce the interest rates in the future monetary policies also as it has adopted ‘accommodative’ stance from ‘neutral’ earlier.
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