Punjab National Bank and Canara Bank both are user-trusted and popular banks in India. Both Banks gives services to millions of users in India. The surprising thing is that both banks made changes in Fixed Deposit-rated and now this FD Rate is live for users. This might be a very good time to invest in FD on these Banks.
Canara Bank FD Rates
Canara Banks announced increments in household Fixed deposit rates on 11th June. These banks give massive opportunities to Senior Citizens as compared to common citizens. According to reports, FD Users can get more returns than before on 444-day special FD investment.
There is a twist, the interest rate for the Common man is set to 7.25% while Old citizens can get 7.75% on the special FD investment in Canara Bank. On 1 year of FD Investment, Common Man can get 6.85% interest rates while old citizens will get 7.25% IR.
Also, there is a 270-day to 12-month period FD Plan where a common man will get IR 6.25% while Senior Citizens will get 6.75% IR.
If a common man invests in FD for 5 years to 10 years, they will get 6.70% while Senior Citizens get 7.20% IR on the same investment.
Punjab National Bank FD Rates
Punjab National Bank gives special FD Rates with a 400-day plan that gives increased IR. The bank made changes in the below 3Cr FD Plans with a period of 400 days. On the same investment, a Common Man will get 7.25% while the Senior Citizen will get 7.75% IR, and the super citizens will get up to 8.05% on the same FD Plan.
Other FD plans with 1204 days give IR 6.40 to yCommon Man while old citizens will get 6.90% IR. Also, the bank gives 6.35% IR to the common man for 1 year of the FD Plan.
