Canara Bank and PNB FD Rates: These 2 PSU banks revise their FD rates, effective from June 1

PSU banks Canara Bank and Punjab National Bank (PNB) have revised their fixed deposit (FD) rates, which are effective from June 1, 2025.

Both banks have cut the interest rates on several FDs, while PNB has increased the rate on select long-term deposits.

Canara Bank’s latest FD rates

For one year, the PSU bank has decreased the FD interest rate by 10 basis points (bps), from 6.85 per cent to 6.75 per cent. For 3 years and above but less than 5 years FD scheme, the rate has been reduced by 25 bps, from 7 per cent to 6.75 per cent.

On callable FDs, Canara Bank offers 4 per cent to 7 per cent interest rates for general customers. For senior citizens, the bank gives an interest rate of 4 per cent to 7.50 per cent interest rate.

PNB’s latest FD rates

Punjab National Bank (PNB) has also changed its FD interest rates for retail deposits less than Rs 3 crore. 

For general citizens, the PSU bank will now offer interest rates between 3.50 per cent and 6.90 per cent for tenures ranging from seven days to 10 years.

Foe 390-day FD scheme, PNB offers the highest interest rate of 6.9 per cent, which was 7 per cent earlier.

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.