Punjab National Bank customers need to check out these updates

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If you have a bank account with Punjab National Bank (PNB), the country’s second-largest lender, then you should be aware of three important announcements made by the bank. PNB has a customer base of around 19 crore. On August 2, PNB revised interest rate of fixed deposits across all tenures. The public sector bank has also extended some special offers to its customers related to debit card usage.

FD rates

PNB is offering interest rates ranging between 2.9% and 5.25% on fixed deposits maturing in the range of 7 days to 10 years. PNB is offering an interest rate of 2.9% on 7-45 day fixed deposits and it goes up 4.4% on FDs of less than one-year maturity. These rates are with effect from August 1, 2021.

For three years to five years and five years to 10 years the interest rate is fixed at 5.25% per year. Senior citizen will get an additional 50 basis points or 0.5% more interest across all the tenure, PNB said in a statement. For FDs maturing in seven days to 10 years, they will get an interest rate ranging between 3.4% and 5.75%.

SBI, ICICI Bank, HDFC Bank, BoB all are offering slightly higher interest rates than PNB right now.

Single debit card for three different accounts

PNB calls this facility as ‘add-on account’ facility. Under this facility, maximum three bank accounts can be linked with one card at the time of issuance of the card. One of these will be the main account. Transactions can be done from any of these three accounts through the same debit card.

However, the facility of linking multiple bank accounts with one debit card is quite limited. This facility will be available only at PNB’s ATMs. The card can be used at other ATMs to withdraw money only from the main bank account, not from the two add-on accounts.

Also, the bank accounts can belong to any branch of PNB, but all the three accounts should be registered in the name of the same person with all the same details.

Spreading awareness

In the interests of its customers, PNB has also issued a warning via its social media handle.

“Fraudsters impersonate as bank using profile picture same as PNB’s official handle and indulge in such activities with the intention of defrauding. One such account that has come to our notice is @ThePNBIndia. Bank’s official handle is @pnbindia. Please do not share your personal details without verifying the handle,” PNB said on its official Twitter handle.