PNB, Canara Bank revise interest rates from Jun 1

Canara Bank and Punjab National Bank (PNB) have revised their fixed deposit (FD) interest rates on retail term deposits less than Rs 3 crore, effective June 1, 2025. While both banks have cut rates on several key tenures, PNB has also increased rates on select long-term deposits.

Latest Canara Bank FD interest rates
Canara bank offers FD interest rates on callable fixed deposits between 4% and 7% for general customers, and between 4% and 7.50% for senior citizens. The rates are effective from June 1, 2025
For the one-year tenure, Canara Bank has reduced the FD interest rate by 10 basis points (bps), from 6.85% to 6.75%. For FD tenures of 3 years and above but less than 5 years, the rate has been lowered by 25 bps, from 7% to 6.75%.

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Latest PNB FD interest rates
Punjab National Bank (PNB) has once again revised its fixed deposit (FD) interest rates for retail deposits less than Rs 3 crore. The new rates are effective from June 1 2025.
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After revision, Punjab National Bank offers fixed deposit interest rates between 3.50% and 6.90% for tenures ranging from 7 days to 10 years for general citizens. The highest interest rate of 6.9% is offered on a tenure of 390 days. Earlier, the highest interest rate of 7% was offered on a tenure of 390 days.

For senior citizens, the bank offers interest rates ranging from 4.00% to 7.40%. For super senior citizens, the rates are slightly higher, ranging from 4.30% to 7.70% after revision.

For FD tenures of more than 1 year to 389 days, Punjab National Bank (PNB) has reduced the FD interest rate by 10 basis points (bps), from 6.80% to 6.70%. On the 390-day tenure, the rate has been revised from 7% to 6.90%. For tenures ranging from 391 days to 505 days, the rate has been lowered from 6.80% to 6.70%, while the 506-day tenure now offers 6.60%, down from 6.70%. For tenures between 507 days and 2 years, the rate has been cut from 6.80% to 6.70%. Additionally, for deposits with tenures of over 2 years up to 3 years, the interest rate has been reduced by 5 bps, from 6.75% to 6.70%.

For the 1204-day tenure, Punjab National Bank (PNB) has increased the FD interest rate by 25 basis points (bps), from 6.15% to 6.40%. For tenures ranging from 1205 days to 5 years, the rate has been raised from 6.25% to 6.50%, also reflecting a 25 bps hike.