Product Details
Bank Name
Punjab National Bank
Eligibility
Individuals (singly or jointly) with others
Minor who have attained the age of 10 years and above in his own name on giving proof of age
Proprietorship/Partnership Firm, Commercial Organization, Company /Corporate Body
Hindu Undivided Family
Association, Club, Society, Trust or Religious/Charitable or Educational Institutions
Municipality or Panchayat, Government or Quasi-Government Body
Interest Rate
Fluctuating
Tenure
7 days to 10 years.
Fixed Deposit Type
Floating interest rate.
PNB Floating Rate Fixed Deposit Scheme
Tax Benefits
No
Credit Ratings
IND AAA, ICRA AAA
Interest Payment Frequency
Monthly, quarterly, at maturity.
Cummulative/Non-Cummulative
Cumulative
Features
Flexible interest payout options.
Deposits for Rs.10,000 and above, on written request shall be eligible for Demand Loan /overdraft facility.
Minimum deposit of Rs.1000.
Maximum amount of 10 crores.
Minimum Investment Amount
1000
Fees and Charges
Pros
Minimum deposit amount of Rs.1000.
Minimum period of 7 days only.
Maximum amount of up to 10 crores.
Users can earn more interest rates by using floating interest rates.
Cons
Fluctuating interest rates.
Pros & Cons
Account Opening and Procedure
How to Open?
Online:
Visit the PNB website: Go to https://www.netpnb.com/
Log in to your PNB account: Enter your user ID and password.
Look for the "Fixed Deposits" section: This is usually under "Deposits" or "Products."
Choose the FD option: Select the type of FD you want to open (e.g., regular, cumulative, step-up).
Enter details: Fill in the required information, such as deposit amount, tenure, interest payout frequency, and nominee details.
Submit the application: Review your details and submit the application online.
In-Branch:
Visit a PNB branch: Find a branch near you using their branch locator.
Gather necessary documents: Bring along your identification proof (Aadhaar card, PAN card), address proof, and income proof (if required).
Fill out the application form: Complete the FD application form provided by the bank.
Submit documents and deposit funds: Hand over the completed form, documents, and the desired deposit amount to the bank representative.
Application Procedure
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