Kuchh Baat Aapke Interest Ki Login
India's Most Trusted Online Loan Marketplace
4.2/5.0 from 1,043 Customers

PNB Interest Rates on FD, Oct 2017

Last Updated 01st Oct 2017

Fixed Deposit Interest Rate of PNB

Tenure General Rates Senior Citizen Rates
7 days to 14 days 4.00% 4.50%
15 days to 29 days 4.00% 4.50%
30 days to 45 days 4.50% 5.00%
46 days to 90 days 5.50% 6.00%
91 days to 179 days 6.00% 6.50%
180 days to 270 days 6.25% 6.75%
271 days to 364 days 6.25% 6.75%
1 year 6.60% 7.10%
1 year 1 day to 2 years 6.50% 7.00%
2 years 1 day to 5 years 6.25% 6.75%
5 years 1 day to 10 years 6.25% 6.75%

The above rates are applicable for deposits of below Rs. 1 crore.

PNB FD Maturity Calculator
Rs.
%

PNB FD Interest Rates

PNB offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of PNB have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in PNB are:

  • The auto renewal facility is not available
  • Nomination facility is available
  • Loan or overdraft upto 90 per cent on the deposit is available
  • Income option can range from 6 months to 120 months

PNB Fixed Deposit Rates

The factors affecting Fixed Deposit interest rates are as follows:

Policies Framed by RBI – As per RBI guidelines, the change in Cash Reserve Ratio (CRR) and repo rate affects the interest rate of all banking instruments including the fixed deposit.

Recession – Recession results in a decrease in the interest rate offered on fixed deposit. At the time of recession, RBI is forced to release the funds in the market which it achieves by lowering the rates on cash reserve of the banks and hence, providing them with additional liquidity. As a result of high liquidity and low credit demand, banks reduce the rates on FD.

Inflation – Inflation has a positive effect on a fixed deposit interest rate. Banks typically fix interest rates of FD in a manner that it is higher than the existing inflation rates. Hence, FD rates tend to be higher in a period of rising inflation.

Current State of Economy – Economic condition of the country is the major factor that affects the fixed deposit interest rate. In a booming economy, people need and are willing to take larger credit to meet their personal and business requirements. In periods of high credit demand, banks offer higher interest rate to garner more funds through fixed deposits.

Fixed Deposit Schemes PNB

FD Scheme For Road Accident Victims

Description:

  • The scheme is to facilitate the claimants of victims of road accidents to place the funds received from the motor tribunal?.
  • ?No loans and advances is permitted under the scheme
  • Option to choose between simple and compound interest rate on your deposit
  • Facility of auto renewal on the deposit is available

Who is eligible?

  • Resident Indians, private or public limited company, hindu undivided family, trust and partnership firm

PNB Anupam Term Deposit Scheme

Description:

  • This deposit scheme offers the depositor an option to open a fixed deposit account that allows them to benefit from preferential interest rates and also allows premature cancellation of the deposit at any given point of time.
  • No separate documentation required
  • Nomination facility is available
  • In built overdraft facility available against the deposit

Who is eligible?

  • Salaried or self employed individuals above 18 years of age

PNB Balika Shiksha Fixed Deposit Scheme

Description:

  • This is a fixed deposit scheme which is specially designed for girls. The scheme is available for all those girls who have passed 8th grade irrespective of whether they belong to SC/ST.
  • No loan or advance is allowed against these deposits
  • Auto renewal on the deposit is done for 30 days

Who is eligible?

  • Student girls passed out class 8th from kasturba gandhi balika vidyalayas and unmarried girls below 16 years of age

Multi Benefit

Description:

  • This is a fixed deposit scheme under which multi benefits are offered to the depositor along with a higher rate of interest.
  • Loan or overdraft against upto 90 per cent deposit is available
  • Nomination facility is available

Who is eligible?

  • Resident Indians, partnership firm, hindu undivided family, trusts, corporations, government bodies, minors of 10 years of age and above

Scheme For Road Accident Victims for Minors

Description:

  • This deposit scheme is designed to facilitate the claimants of victims of road accidents to place the funds received from the motor tribunal as per court orders under the maximum interest category of fixed deposit.
  • It is mandatory to open a savings account wherein monthly interest of the fixed deposit will be credited
  • Nomination facility is available
  • Get 1 per cent interest rate above CARD rate

Who is eligible?

  • Minors of 10 years of age and above

PNB Sugam Term Deposit Scheme

Description:

  • This is a fixed deposit scheme which provides a greater flexibility along with higher rate of interest. The depositor is allowed to withdraw in smaller units at any time before maturity.?
  • Allows you to withdraw your funds into smaller units
  • Nomination facility is available
  • The depositor has option to draw interest on monthly or quarterly or half yearly or yearly basis or on maturity
  • Offers flexibility on your deposit amount

Who is eligible?

  • Minors of 10 years of age and above, minors below 18 years of age under guardianship, sole proprietorship firm, partnership firm and hindu undivided family

PNB Swechha Jama Yojna Flexi FD Scheme

Description:

  • This is a deposit scheme that allows customers to save money with a greater flexibility on the deposited amount. Under this scheme, customers can choose a core deposit amount which is subject to a minimum of Rs. 100.
  • Interest will be paid half yearly calculated on daily product basis
  • Nomination facility is available
  • Loan or overdraft upto 90 per cent on the deposit is available

Who is eligible?

  • Minors of 10 years of age and above, minors below 18 years of age under guardianship, sole proprietorship firm, partnership firm and hindu undivided family

PNB Ordinary Term Deposit Scheme

Description:

  • This is a deposit scheme under which a depositor is allowed to make deposit into his/her fixed deposit account with a minimum sum of Rs. 100. You can also avail loan against fixed deposit and add a nominee to your account.
  • Simple interest will be paid on the deposit upon maturity
  • Nomination facility is available
  • Loan or overdraft upto 90 per cent on the deposit is available

Who is eligible?

  • Minors of 10 years of age and above, minors below 18 years of age under guardianship, sole proprietorship firm, partnership firm and hindu undivided family

PNB Varshik Aay Yojana Deposit Scheme

Description:

  • This is a deposit scheme on which the interest is paid annually at the quarterly compound basis. You can also avail the loan facility against this fixed deposit scheme.
  • Loan or overdraft upto 90 per cent on the deposit is available
  • Nomination facility is available
  • Annual interest payment on quarterly compound basis

Who is eligible?

  • Minors of 10 years of age and above, minors below 18 years of age under guardianship, sole proprietorship firm, partnership firm and hindu undivided family

PNB Tax Saver Fixed Deposit Scheme

Description:

  • A flexible and secured fixed deposit scheme with dual benefits of tax exemption under section 80C and attractive returns.
  • Loan or overdraft upto 90 per cent on the deposit is available
  • Nomination facility is available
  • Rebate on Income Tax under section 80C

Who is eligible?

  • Resident Indians, hindu undivided family, guardian or parent for minors

Prospective Senior Citizen Term Deposit Scheme

Description:

  • Specially designed account for senior citizens offering higher rates of interest as compared to accounts for other individuals.
  • Loan or overdraft upto 90 per cent on the deposit is available
  • Nomination facility is available

Who is eligible?

  • Senior citizens of 60 years of age and above

PNB Mibor Linked Notice Deposit Scheme

Description:

  • MIBOR linked notice deposit scheme provides a deposit product with a Market determined interest rate linked to MIBOR.
  • Auto renewal facility on the deposit is available
  • Rate of interest is linked to MIBOR with daily reset
  • Once the spread is quoted for the day, there should not be any limit for acceptance of deposit under the scheme

Who is eligible?

  • High net worth individuals, company/corporate body, public sector undertakings and commercial organisations

PNB Bulk Fixed Deposit Scheme?

Description:

  • This fixed deposit account allows the depositor to deposit a single deposit of Rs. 10.00 crore into his/her fixed deposit account.
  • The auto renewal facility is not available
  • Nomination facility is available
  • Loan or overdraft upto 90 per cent on the deposit is available
  • Income option can range from 6 months to 120 months

Who is eligible?

  • Minors of 10 years of age and above, minors below 18 years of age under guardianship, sole proprietorship firm, partnership firm and hindu undivided family

PNB FD Interest Calculator

PNB fixed deposit rates calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. FD maturity amount that you will get depends on the following four parameters

  • Deposit amount – This is the initial amount deposited by a customer in PNB. Bank may offer higher interest rate on larger deposits. PNB offers deposit amount in the range of Rs. 10,00,00,000 to .
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. PNB offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits held for a shorter period. Highest interest rate offered by PNB is 6.60% for deposit amount below Rs. 1 crore and the lowest interest rate offered by PNB is 4.00%
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 4.00% for a 7 Days FD and a rate of 4.00% for a 10 Years Years FD.
  • Interest Compounding Frequency - This calculates maturity amount based on monthly, quarterly, half yearly or annual frequency.

Illustration: Mr. A opens a FD account of Rs. 1 lakh with a tenure of 7 Days at an interest rate of 4.00%. In this case, the maturity amount at the end of 7 Days will be Rs. 100,076 and includes the principal and total interest earned on the principal amount during the period at Rs. 76. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

PNB calculates interest earned on its fixed deposits on quarterly basis.

FD in PNB – Premature Withdrawal

Premature closure of Term Deposit with PNB is along with the lower interest rate of 1% than the contracted rate. The penal provisions for premature closure on PNB FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit PNB

PNB offers loan up to 90% against its own deposit. Note that PNB will not give you loan against FD of any other bank.

Maximum loan tenure is restricted up to the maximum tenure of the FD.

Illustration - Mr. Rahul has opened a fixed deposit of Rs. 100,000 for 2 years in PNB. The borrower later decided to take loan against his FD. The bank has approved a credit limit of 90% against his FD at 10% interest rate. Now, if the borrower draws Rs. 90,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on Rs. 90,000 availed for 1 month only. The amount he repays after 1 month is Rs. 90,744. So, the interest charged on the loan taken is Rs. 744.

Documents required to open Fixed Deposit Account in PNB

    FAQs on PNB Fixed Deposit

    What is the highest interest earned on PNB fixed deposit?

    You can earn a maximum interest of 6.60% on PNB fixed deposit.

    Are there any extra benefits for senior citizens on fixed deposit of PNB?

    Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 4.00% to 6.60%. Compared to this, the rate of senior citizens FD are in the range of 4.50% to 7.10%.

    What is the tenure range for PNB Fixed Deposit?

    The tenure ranges from 7 days to 10 years.

    Is there any minimum amount that I have to give for opening a Fixed Deposit with PNB?

    The minimum deposit amount required to book an FD with PNB is Rs. 10,00,00,000.

    Can I deposit additional amount in my FD account?

    No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

    Who is eligible for opening an FD account in PNB?

    All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

    Is it possible to change the tenure of my existing fixed deposit account with PNB?

    No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

    What are the implications of opening an FD bank account without having PAN?

    Following are the implications for the customers opening an FD account with PNB without their PAN card

    • TDS will be deducted at the rate of 20% as against 10% under section 206AA
    • NO TDS credit from the Income Tax department
    • NO TDS certificate will be issued
    • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply
    Pnb Fixed Deposit

    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.