Product Details
Bank Name
Punjab National Bank
Eligibility
Individual (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
Illiterate and blind persons can also open the account
Interest Rate
6.25 to 7.25% per annum.
Tenure
6 months to 120 months.
Fixed Deposit Type
Multi benefits
Multi Benefit Term Deposit Scheme
Tax Benefits
No
Credit Ratings
IND AAA, ICRA AAA
Interest Payment Frequency
On maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Cumulative
Features
The minimum deposit amount is Rs.100.
The maximum deposit amount is Rs.1,99,99,999.
Deposits for Rs.10,000 and above on written request shall be eligible for a Demand Loan/overdraft facility.
Minimum Investment Amount
100
Fees and Charges
Pros
You can avail an overdraft against the FD.
Interest is compounded quarterly.
The minimum deposit amount required to start this FD is Rs. 100 only.
Cons
No tax saving benefits.
Interest is paid on maturity only.
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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