Good news for Bank FD investors! This government bank increased the interest rates

Bulk FD rates from Rs 2 crore to Rs 10 crore have been increased by the public sector Punjab National Bank (PNB). This increase has been done by the bank on FDs ranging from 7 days to one year. According to the official website of the bank, the new interest rates have come into effect from May 4.
Let us tell you, due to the continuous increase in the repo rate from the RBI, banks are continuously increasing the interest rates of FDs. In the last year, the repo rate has increased from 4.00 per cent to 6.50 per cent.
PNB has increased the interest rate of bulk FDs from 7 days to 45 days by 0.50 per cent from 5.50 per cent to 6.00 per cent. The interest rate on bulk FDs ranging from 46 days to 90 days has been increased by 0.75 per cent. Due to this the interest rate has increased from 5.50 percent to 6.25 percent. The interest rate on FDs of 91 days to 179 days has been increased by 0.50 per cent from 6.00 per cent to 6.50 per cent.
The interest rate on FDs ranging from 180 days to less than one year has been increased from 6.25 per cent to 6.50 per cent. At the same time, the interest rate on bulk FD for one year period has been increased by 0.25 per cent to 7.00 per cent.
There is no change in the interest rate on bulk FDs for the remaining tenors. The interest rate on bulk FDs ranging from 1 year one day to 2 years is 6.50 per cent. The interest rate on bulk FDs from 2 years one day to 3 years is 6.50 per cent, from 3 years one day to less than 5 years, 6.25 per cent interest is being given. At the same time, the interest rate on FDs ranging from 5 years one day to 10 years is 5.60 per cent.