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Punjab National Bank and Canara Bank change deposit rates, offering interest rates from 7.10% to 7.25%
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Aaj Tak
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Punjab National Bank and Canara Bank change deposit rates, offering interest rates from 7.10% to 7.25%

Those planning to place funds in a bank deposit (Fixed Deposit, FD) or who already have such deposits should pay attention to the rate changes. Punjab National Bank (PNB) and Canara Bank have adjusted their FD interest rates in November. The new terms came into effect on November 1 and November 2, 2026, respectively.

At Canara Bank, the maximum rate for senior citizens is 7.25%, and for regular customers, it is 6.75%. Meanwhile, PNB offers a maximum of 6.60% for regular customers and 7.10% for senior citizens. These rates apply to domestic FDs amounting to less than 3 crore rupees.

The new interest rates at Canara Bank started applying from November 2, 2026. The bank increased the interest on select term FDs by 15 basis points (0.15%). The highest percentage is offered by the bank for a special FD term of 555 days.

Interest Rates for Regular Customers:

For the special FD term of 555 days, the rate is now 6.75%, whereas previously it was 6.60%. Additionally, a rate of 6.65% is offered for the special FD term of 444 days.

Interest Rates for Other Terms:

For senior citizens, the maximum rate for the special FD term of 555 days reaches 7.25%, up from the previous 7.10%. For the 444-day FD, the rate is 7.15%.

Furthermore, Canara Bank provides an additional interest of 0.50% above the standard rate for qualified senior citizens on domestic FDs of 180 days or more.

The new FD rates at Punjab National Bank (PNB) came into effect on November 1, 2026. The bank offers an interest rate from 3% to 6.60% for regular customers, with the maximum rate achieved on a special FD term of 444 days.

Interest Rates for Regular Customers:

For senior citizens at PNB, the maximum rate for the special FD term of 444 days is 7.10%. Rates of 7% are also offered for a 666-day FD and 6.75% for a one-year FD.

The bank also provides an additional percentage for certain super-senior citizens aged 80 and above.

In addition to these two public sector banks, the large private bank Accent Bank has also made changes to its FD rates. However, these changes concern domestic bulk fixed deposits (Bulk Fixed Deposit) amounting to 3 crore rupees or more. The new rates became available from November 3, 2026, and differ from the bank's standard retail FD programs.

It is important to remember that the actual return on FD depends on the investment term, customer category, and conditions set by the bank. Before making an investment decision, it is recommended to check the interest rate information on the bank's official website.

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Central Bank of Russia maintains key rate at 14%
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noticiasaominuto.com

Central Bank of Russia maintains key rate at 14%

The Central Bank of Russia (CBR) announced the maintenance of the key rate at 14% during its second consecutive meeting. This decision was made in response to growing price pressures observed in recent months.

The banking regulator stated on its official portal that the board of directors decided to keep the benchmark rate at 14.00% per annum. It noted that the economy is showing moderate growth in the second half of 2026, but current price pressure remains high.

The CBR specified that future decisions regarding rates will be based on dynamics and inflation expectations, as well as an assessment of risks associated with both domestic and external conditions.

According to the baseline scenario, the Central Bank forecasts an average interest rate in the range of 12.5% to 13.5% in 2027. The regulator also reported that with the current monetary policy, annual inflation will return to 4.0% in 2027 and should remain within the target level from that point onward.

In the third quarter of the current year, seasonally adjusted price growth averaged 8.0% compared to the previous year, which is higher than the 4.8% recorded in the second quarter of 2026. Furthermore, core inflation increased to 6.2% compared to 4.5% in the previous quarter.

Price dynamics continued to depend on the volatility of certain goods, particularly fuel. According to estimates from October 19, annual inflation was 6.8%, and it is expected to be within the range of 7.1% and 7.6% by the end of the year.

The CBR emphasized that high inflation expectations are slowing down the decline of the Russian economy, pointing out that in the medium term, pro-inflationary risks outweigh disinflationary ones. The regulator also warned that elevated inflation expectations could intensify the impact of costs on final prices.

The next meeting to decide on interest rates is scheduled for December 18.

Indian Bank Increases Interest Rates on Fixed Deposit (FD) for Ind Grow and Ind Prosper Programs
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www.aajtak.in

Indian Bank Increases Interest Rates on Fixed Deposit (FD) for Ind Grow and Ind Prosper Programs

Those planning to earn a reliable income by placing funds in the bank through a fixed deposit (FD) may want to pay attention to this news. The State Bank, Indian Bank, has increased interest rates on two of its special FD schemes. The bank raised the rate by 0.15 percent, which is 15 basis points, for the 'Ind Grow' scheme with a term of 555 days and the 'Ind Prosper' scheme with a term of 777 days. These new rates came into effect on October 23, 2026, ensuring clients receive a higher percentage compared to previous terms.

Interest Rate for 555 and 777 Day FDs

Indian Bank has increased the rates for both products by 15 basis points. As a result, the new annual interest rate for the 'Ind Grow' scheme for 555 days is 6.80%, and for the 'Ind Prosper' scheme for 777 days, it is 6.75%. Clients considering opening an FD for these fixed terms can benefit from the increased rates.

Bank's Decision Following Repo Rate Change

The increase in deposit rates was adopted by Indian Bank against the backdrop of the Reserve Bank of India's (RBI) increase in the repo rate. At the beginning of the current month, the repo rate was raised from 5.25% to 5.50%. Following this, Indian Bank announced an increase in interest on these two special savings programs. Nevertheless, before finalizing an FD, investors should consider not only the interest rate but also the investment term, early withdrawal conditions, and their financial needs.

Higher Percentage for Senior Citizens

Indian Bank typically provides pensioners with an additional 0.50% interest compared to regular customers. For super-seniors, this bonus is 0.75%. Eligible senior and super-senior citizens can also receive an extra percentage on these special fixed-term schemes. Therefore, before opening an FD, it is necessary to clarify the applicable interest rate at the bank based on age to know exactly what income will be received on the deposited amount.

Taxes on Fixed Deposit Interest

Investors depositing funds in FDs should remember that not all earned interest is fully tax-exempt. Income from interest is usually classified as 'income from other sources' and is included in the investor's total taxable base. Taxation is determined according to the investor's tax burden. This means that people with high tax rates may pay more tax on interest, while investors with low rates will face relatively lower taxes. Furthermore, the bank may withhold TDS (Tax Deducted at Source) according to applicable rules and criteria.

What to Consider Before Investing?

If you plan to open an FD in these Indian Bank programs, you can consider the annual rate of 6.80% for the 'Ind Grow' scheme for 555 days and 6.75% for the 'Ind Prosper' scheme for 777 days. However, the optimal choice depends on your investment horizon, cash needs, and tax status. It is important to remember that the stated interest rate may differ from the actual yield. The FD term, interest payout method, and tax aspects affect your profit. Therefore, always check the bank's terms and interest rates before investing.

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