Explore Financial Security with Punjab National Bank (PNB) Fixed Deposits

Welcome to the secure world of Punjab National Bank (PNB), India's leading Swadeshi Bank with an expansive network of 10,925 branches and 13,914 ATMs across India, and operations extended to six countries overseas.

PNB Fixed Deposit: Reliable Returns

PNB provides a variety of fixed deposit options with interest rates ranging from 3.00% p.a. to 5.25% p.a., ensuring your money is securely invested for a chosen tenure while receiving tailored interest rates.

Diverse Fixed Deposit Schemes for Various Needs

• Regular Fixed Deposits: Offers flexibility and security with returns upon maturity, an overdraft facility up to 75% against the deposit. Eligible for resident Indians, HUFs, companies, trusts, and partnership firms.
• FD Scheme for Road Accident Victims: Specifically for motor insurance claims, offering simple or compound interest, and auto-renewal options for individuals, HUFs, companies, trusts, and partnership firms.
• PNB Sugam Term Deposit Scheme: Offers higher interest rates with the flexibility of partial withdrawal before maturity, with various interest withdrawal options. Eligible for minors (10 years and above), HUFs, sole proprietorship, and partnership firms.
• PNB Anupam Term Deposit Scheme: Includes an overdraft facility with a minimum deposit of Rs. 10,000 and flexible tenure ranging from 6 to 120 months. For salaried or self-employed individuals (18 years and above).
• PNB Balika Shiksha Fixed Deposit Scheme: Tailored for girls who have passed the 8th grade with auto-renewal for 30 days, not allowing loans or advances. For girl students from Kasturba Gandhi Balika Vidyalayas.
• PNB Multi-Benefit Deposit Scheme: Provides multiple benefits with higher interest rates and a loan/overdraft facility up to 90% against the deposit. Eligible for resident Indians, HUFs, partnership firms, trusts, corporations, government bodies, and minors (10 years and above).
• PNB Swechha Jama Yojna Flexi FD Scheme: Offers savings flexibility starting at Rs. 100 with interest paid half-yearly and a loan facility up to 90% against the deposit. Eligible for resident Indians, HUFs, sole proprietorship, and partnership firms.
• PNB Varshik Aay Deposit Scheme: Features interest compounded quarterly and paid annually, with a loan facility up to 90% of the deposit amount. Eligible for resident Indians, minors (10 years and above), HUFs, sole proprietorship, and partnership firms.
• PNB Tax Saver Deposit Scheme: Offers tax exemption under section 80C along with competitive returns and a loan facility up to 90% of the deposit amount. Suitable for individuals seeking tax benefits.
• Prospective Senior Citizen Term Deposit Scheme: Delivers higher interest rates specifically for senior citizens along with a loan facility up to 90% of the deposit. For senior citizens (60 years and above).
• PNB Mibor Linked Notice Deposit Scheme: Provides market-determined interest rates linked to MIBOR with an auto-renewal feature and no deposit acceptance limit. Suitable for high net worth individuals, companies, PSUs, and commercial organizations.
• PNB Bulk Fixed Deposit Scheme: Requires a single deposit of Rs. 10.00 crore with a loan or overdraft facility up to 90% against the deposit. Eligible for individuals, HUFs, companies, trusts, and partnership firms.

Understanding PNB FD Interest Rates

Interest rates vary based on tenure: Short-term (7 days to 12 months): 3.00% to 4.50% p.a.; Medium-term (1 year to less than 5 years): 5.50% to 5.75% p.a.; Long-term (5 years to 10 years): 5.65% p.a.

Procedure to Open a PNB Fixed Deposit

Online Method:

Utilize the PNB mobile app or internet banking to input details, nominee info, and maturity instructions, with an option for doorstep assistance. The FD is booked after necessary verifications.

Offline Method:

Visit your nearest PNB branch, complete the FD application form, submit required documents along with the deposit amount, and receive the FD certificate post-processing.

Eligibility and Documentation

Eligibility:

Open to resident individuals, NRIs, HUFs, sole proprietorship, partnership firms, companies, registered societies, trusts, and associations.

Documents Required:

Identification proof, PAN card, address proof, passport-size photos, and bank account statements are needed.

Tax Implications and Additional Benefits

Tax on PNB FD:

PNB's tax-saving FD offers Section 80C exemption up to Rs. 1,50,000 annually. Interest income is taxed as per slab rates with a 10% TDS for income over Rs. 40,000 (Rs. 50,000 for senior citizens).

Loans Against FD:

PNB provides loans up to 90% of the deposit amount, with interest rates ranging from 4% to 6.3%.

Premature Withdrawals:

All PNB FDs, except tax-saving ones, are eligible for premature withdrawal with a 1% penalty on the interest.

Frequently Asked Questions (FAQs)

• Is interest on fixed deposits taxable? Yes, if the interest income exceeds Rs. 10,000 annually.
• What is the highest FD rate offered by PNB? The highest rate is 7.25%.
• What are the current PNB FD interest rates? Ranging from 3.50% to 7.25% for regular deposits, while senior citizens can avail rates from 4.30% to 8.05% p.a.
• Can additional amounts be deposited into an FD account? No, only the initial deposit is allowed during account opening.

PNB FD Interest Calculation

Calculate maturity with: Maturity Amount = Investment Amount x (1 + Interest Rate/Times Compounded)^(Number of Times Compounded x Time Period).

Explore PNB's various fixed deposit options and embark on a financial growth journey. Select a scheme aligned with your financial goals and secure your future with PNB.