Canara Bank and PNB Revise FD Interest Rates from June 1, 2025

Canara Bank and Punjab National Bank (PNB) have announced a revision in fixed deposit (FD) interest rates, effective June 1, 2025. Both banks have reduced interest rates on retail term deposits below ₹3 crore across select tenures. However, PNB has also increased rates for certain long-term FDs, offering some relief to depositors looking for extended investment options.

Canara Bank FD Rates Slashed

Canara Bank has revised its interest rates for both general customers and senior citizens. The revised FD rates now range:

For General Public: 4% to 7% For Senior Citizens: 4% to 7.50%

Updated Rate Highlights:

1-Year Tenure: Interest rate cut by 10 basis points, from 6.85% to 6.75% 3 to 5 Years Tenure: Interest rate reduced by 25 basis points, from 7% to 6.75%

PNB Cuts FD Rates, Offers Higher Returns on Select Long-Term FDs

Punjab National Bank has also revised FD rates for deposits under ₹3 crore. The updated rates apply to deposit tenures ranging from 7 days to 10 years, offering interest between 3.50% and 6.90%.

The highest interest rate of 6.90% is now available for 390-day deposits, slightly lower than the previous 7%.

PNB FD Rate Changes at a Glance:

1 Year to 390 Days: Reduced from 7% to 6.90% 391 to 505 Days: Down from 6.80% to 6.70% 506 Days: Reduced from 6.70% to 6.60% 507 Days to 2 Years: Cut from 6.80% to 6.70% 2 to 3 Years: Dropped from 6.75% to 6.70%

Special Rates for Senior and Super Senior Citizens

PNB continues to offer higher FD rates for senior citizens:

Senior Citizens: Revised range of 4% to 7.40% Super Senior Citizens: Enhanced range of 4.30% to 7.70%