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PNB FD Interest Rates

PNB FD Rates 2020

Last Updated 17th Sep 2020

PNB is one of most reliable FD providers amongst a number of FD providers in the market. PNB FD offers a number of benefits to investors such as higher returns, flexible tenure, lower minimum deposit limit, and loan against FD facility, among others. When it comes to the FD interest rate, the highest rate offered on PNB FD is 5.30%. Latest PNB FD interest rate for senior citizens, on the other hand ranges between 3.50% to 5.80%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 3.00% 3.50%
15 days to 29 days 3.00% 3.50%
30 days to 45 days 3.00% 3.50%
46 days to 90 days 3.25% 3.75%
91 days to 179 days 4.00% 4.50%

PNB Fixed Deposit (FD)

PNB FDs are one the best investment option available for depositors who are looking to invest in a fixed income instrument and earn higher returns than savings account. Key Features of PNB FD are:

  • Deposit Amount: PNB FD can be opened with an amount as a low ₹ 50 to up to No Limit.
  • FD Tenure: Ranges between 7 days to 10 years.
  • Interest Rate Range: 3.00% p.a. to 5.30% p.a.
  • Senior Citizens FD Rate: 3.50% to 5.80% p.a.
  • Highest Interest Rate: As per today’s rate, PNB’s highest interest rate on FD is 5.30% offered for a tenure of 10 years.
  • Safety of PNB Deposits: PNB deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD: PNB provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto Renewal Facility: Available
  • Nomination Facility: Available
  • Popular FD Schemes: Regular Fixed Deposits, FD Scheme For Road Accident Victims, PNB Anupam Term Deposit Scheme, PNB Balika Shiksha Fixed Deposit Scheme, Multi Benefit, Scheme For Road Accident Victims for Minors, PNB Sugam Term Deposit Scheme, PNB Swechha Jama Yojna Flexi FD Scheme, PNB Ordinary Term Deposit Scheme, PNB Varshik Aay Yojana Deposit Scheme, PNB Tax Saver Fixed Deposit Scheme, Prospective Senior Citizen Term Deposit Scheme, PNB Mibor Linked Notice Deposit Scheme, PNB Bulk Fixed Deposit Scheme

PNB Best FD Plan

We need to compare tenure wise latest FD rate of PNB to choose the tenure at which it provides the highest interest rate. PNB FD rates are best for the deposits with a tenure of 3 years 1 day to 10 years, wherein the current FD rate of interest is 5.30% p.a

If one is looking to invest in short term deposits with PNB, FD interest rates range from 3.00% p.a. to 4.50% p.a for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short term PNB FD rates for senior citizens range from 3.50% to 5.00% p.a.

If one is looking to invest in long term deposits, PNB FD interest rates with tenure of 5 years to 10 years are a good choice with interest rates on deposits with a tenure of 10 years at 5.30%. Senior citizens are offered special rates from bank with highest deposit rates of 5.80% p.a. on long term FDs.

Fixed Deposits of PNB have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in PNB are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited

Documents required to open Fixed Deposit Account in PNB

  • PAN Card, Aadhar card.
  • 2 Photographs

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. PNB offers Loan against FD at the rate of 4% to 6.3%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 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 ₹ 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 ₹ 90,000 availed for 1 month only. The amount he repays after 1 month is ₹ 90,744. So, the interest charged on the loan taken is ₹ 744.

FD Account Opening Process at PNB

To open a Fixed Deposit account in PNB, you can visit the official website and login to your account. Choose Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the PNB FD after reading the terms and conditions.

Nomination Facility on PNB FD

PNB offers nomination facility on Fixed Deposit to claim the amount in case of the death of the depositor. An individual, single or joint account holders can appoint a nominee. Only one person can be appointed as nominee. You can fill nominee details while opening a PNB fixed deposit. Nominee has to submit his/her identification proof at the time of claim.

PNB Fixed Deposit Scheme

Regular Fixed Deposits

Description:

  • Under this scheme, the depositor is allowed to make investment into the deposit to earn attractive and higher returns along with a flexibility and security.
  • Easy investment with attractive returns
  • Nomination facility is available
  • Avail overdraft facility upto 75 per cent against your deposit
  • Interest on deposit is paid only at the time of the maturity

Who is eligible?

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

FAQs

What is the highest FD rate for PNB?

You can earn a maximum interest of 5.30% on PNB fixed deposit.

Are there any special rates for senior citizens FD 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 3.00% to 5.30%. Compared to this, the rate of senior citizens FD are in the range of 3.50% to 5.80%.

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 ₹ 50.

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.

What documents are required to open an FD account in PNB?

The documents required to open an FD account in PNB includes PAN Card, Aadhar card., 2 Photographs.

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

What is the current interest rate on FD in PNB?

Current interest for FD in PNB ranges between 3.00% - 5.30%.

Can a customer open a FD account online in PNB?

Yes, you can submit your application for opening a FD account on the website of PNB. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.

In how many years FD will double in PNB?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 5.30%. For PNB FD the number of years in which your FD will get doubled is; 72/5.30 = 14


PNB News - Sep 2020
  • 2020-09-17 : Punjab National Bank changed FD rates
    Punjab National Bank revised its FD rates effective from 1 September 2020. The FD rates for 7 to 45 days is 3%, for 46 to 90 days it is 3.25 and for 91 to 270 days it is 4.40%. The rate for long tenors of 271 days to less than one year is 4.50% and the rate for one year to up to 3 years is 5.25%. Further, the FD rate for above 3 years to 10 years is 5.30%.
  • 2020-05-06 : PNB revised FD rates
    Punjab National Bank revised its FD rates effective from 1 May 2020. The FD rates for 7 to 45 days is 3.50%, for 46 to 179 days it is 4.50%, and for 180 days to 270 days it is 5%. The rate for long tenors of 271 days to less than one year is 5.25% and the rate for one year to up to 10 years is 5.75%. Further, the FD rate for special tenors of 333 days is 5.40%.
  • 2020-02-18 : PNB revised FD rates
    Punjab National Bank revised its FD rates effective from February 17, 2020. The FD rates for 7 to 45 days is 4.50%, for 46 to 179 days it is 5% and 180 days to less then 1 year it is 5.75%. The rate for long tenors of 1 year and up to 10 years is 6.05%. Further, the FD rate for special tenors of 333 days is 5.85% and it is 6.05% for 444 days and 555 days. The revised rates are in effect from February 17, 2020.
  • 2019-12-02 : New Term Deposit rates for Punjab National Bank
    With effect from December 1, 2019, Punjab National Bank, revised interest rates on fixed deposits. For 7-45 days, the rate is 4.50%, the rate for 46-179 days is 5.00%, rate from 180 days to less than a year is 6.00%, and for one year the rate is 6.30%. For special period of 333 days, the rate is 6.10%, and for 444 days and 555 days, it is 6.30%. In addition to that, for the large tenure of above 1 to up to 2 years, the rate is 6.30%, for 2 to 5 years, the rate is 6.25%, and the rate for 5 to 10 years is 6.30%. Rates for senior citizens vary by an additional 50 basis points.
  • 2019-11-04 : Punjab National Bank new fixed deposit rates from 1st November
    Punjab National Bank revised its interest rates on fixed deposits with effect from 1st November 2019. The new FD rates for 7-45 days is 4.50%, for 46-179 days, the rate is 5.50%, and the rate for 180 days to less than a year is 6.00%. Revised FD rate for more than one year to 2 years is 6.30%, the rate for 2-5 years is 6.25%, and for 5-10 years, the rate is 6.30%. Further, for special tenors of 333 days, one year, 444 days, and 555 days the rate is set as 6.10% for 333 days and 6.40% for the remaining three tenors.
*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. Read More