After SBI, the public sector Punjab National Bank has also increased interest rates on wholesale deposits. The bank announced the increase in interest rate on wholesale deposit by 1.35 percent from February 1.
PNB said that after revision, the interest rate on fixed deposits of 46-179 days increased by 1.35 percent to 6.25 percent. Similarly, interest rates on fixed deposits of 180 days to less than one year have been increased to 6.25 percent, which was earlier 5 percent. In the category of bulk deposits, deposits of 10 million or more are deposited. New interest rates have come into effect from February.
Earlier, SBI had increased the rate of interest on fixed deposit above Rs 1 crore from 46 days to 179 days and from 180 days to 210 days, the rate of interest on deposits was increased from 4.85 percent to 6.25 percent annually. Similarly, SBI raised the interest rate on the one-time deposit of more than Rs 10 crore to 1.4%.
