With effect from June 1, 2025, two state lenders – Punjab National Bank and Canara Bank has revised their interest rates on fixed deposits.
Punjab National Bank now offers interest in the range of 3.50 percent to 6.90 percent across tenures for deposits lower than ₹3 crore for general citizens. The senior citizens are entitled to receive an extra 50 basis points.
On a tenure between 7 to 45 days, the bank offers 3.5 percent per annum. On a tenure between 46 to 90 days, the bank offers 4.5 percent per annum. When the tenure is between 91 to 179 days, the bank offers 5.50 percent.
On a tenure between 180 to 270 days, the interest is 6 percent. On a tenure between 271 to 302 days, the interest is 6.25 percent. In 303 days, the bank offered 6.15 percent per annum. On tenure between 304 days to less than one year, the bank offers 6.25 percent. One-year fixed deposit stands to offer 6.70 percent.
Canara Bank
Canara Bank offers interest in the range of 4 percent to 7 percent per annum to general citizens across tenures. And senior citizens are entitled to receive an extra 50 basis points. The new rates came into effect on June 1. The state lender has cut the FD interest rate on 1-year tenure by 10 basis points (bps) from 6.85 percent to 6.75 percent. On FDs with tenure between 3 to 5 years, the interest rate has been cut by 25 bps from 7 per cent to 6.75 per cent.
The bank offers the highest interest of 7 percent on 444-day tenure. Between 1-2 years, the bank offers 6.85 percent. For tenure between 2-3 years, the bank offers 6.9 percent and for tenure between 3-5 years, the bank offers 6.75 percent. And for the maximum tenure (5-10 years), the interest rate stands at 6.70 percent.
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