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!