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PNB Fixed Deposit

PNB FD Scheme

Last Updated 06th Oct 2020

PNB fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 3.00% to 5.25%
Minimum Tenure 15 days
Maximum Tenure 10 years
Deposit Amount Rs. 50
Maximum Deposit No Limit
    Earn upto 7.35% on FD APPLY NOW

    PNB FD

    PNB is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 15 days to 10 years. Apart, PNB FD offers regular returns on fixed deposit through interest range ranging between 3.00% to 5.25%. For senior citizens, the interest rates on fixed deposits range between 3.75% to 6.00%. In addition to that, PNB fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of PNB Fixed Deposit Schemes

    Different type of PNB term deposit products offered to the investors are listed as follows:

    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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Eligibility:

    • 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

    Benefits of PNB FD

    PNB fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

    • Guaranteed returns: The best thing about PNB FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, PNB offers FD rates up to 5.25%. The interest rates offered on PNB FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, PNB term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because PNB fixed deposit allows one to borrow a secured loan against PNB FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about PNB loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.
    • Flexible tenures: PNB FD offers the investors the flexibility to choose the investment tenure as per their convenience. PNB offers fixed deposit for a minimum tenure of up to a maximum tenure of 10 years. PNB offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, PNB fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 50. Apart from that, one can invest in the PNB FD up to a maximum of No Limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with PNB means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from PNB will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of PNB fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for PNB FD

    PNB FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for PNB FD

    PNB fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    FAQs

    What is the loan against FD repayment tenure?

    PNB offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years.

    What is the minimum investment for FDs under PNB?

    PNB FD can be availed with a minimum deposit of Rs. 50.

    What is the minimum amount for a fixed deposit in PNB?

    The minimum amount required for a fixed deposit investment in PNB fixed deposit is Rs. 50.

    What is the current interest rate on FD in PNB?

    Currently, PNB offers an interest rate ranging between 3.00% to 5.25% on its fixed deposits.

    What is the penalty for early withdrawal?

    The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in PNB?

    PNB fixed deposit can be opened with a minimum tenure of 15 days.


    PNB News - Oct 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
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