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Bad news for PNB customers! Bank reduces interest rates on Savings account

Categories: DAILY NEWS

                               New Delhi: Punjab National Bank (PNB) has revised Domestic & NRI Saving Account Interest Rates with effect from 3 February 2022.PNB was earlier offering 2.80% interest on Saving Fund Account Balance below Rs 10 Lakh and 2.85 percent on Saving Fund Account Balance of Rs10 Lakh & above to below Rs 500 crore.

                              PNB had reported a two-fold jump in standalone net profit to Rs 1,126.78 crore for the third quarter ended December, as bad loans marginally declined. The country's second-largest public sector lender had earned a net profit of Rs 506.03 crore in the year-ago period.However, total income during October-December 2021 declined to Rs 22,026.02 crore as against Rs 23,298.53 crore a year ago, PNB said in a regulatory filing.

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