Most of the people save their money in savings a/c. They consider it as an emergency fund to withdraw at any point of time.
Even though savings a/c interest rates are pretty low, people consider savings a/c as a safe heaven to withdraw in emergencies.
Here’s a bad news for those who rely entirely on savings a/c interest, banks are decreasing savings a/c interest rates in the recent times of which we are discussing about PNB interest rates here!
Punjab National Bank(PNB) is going to slash savings a/c interest rates with effect from December 1st. It is going to reduce interest rates by 5 to 10 basis points, with this implementation, savings a/c interest rates of PNB will be as under-
| Savings a/c Balance | Interest Rate Applicable With Effect From Dec 1st,2021 |
| Up to 10 Lakhs | 2.80% |
| Above 10 Lakhs | 2.85% |
So from December 1st,2021 Your PNB Savings a/c fetches lower interest rates than usual. Kindly consider this!
bank-info.in 