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.
unicipality or Panchayat, Government or Quasi-Government Body.
lliterate and blind persons can also open the account.
Interest Rate
3.50 to 4.50% per annum
Tenure
7 days to 179 days.
Fixed Deposit Type
Regular
PNB Ordinary Term Deposit Scheme
Tax Benefits
No
Credit Ratings
IND AAA, ICRA AAA
Interest Payment Frequency
Interest shall be payable monthly (at discounted rate), quarterly (at simple rate) and yearly interval (quarterly compounding).
Cummulative/Non-Cummulative
Both
Features
Deposits for Rs.10,000 and above, on written request shall be eligible for Demand Loan /overdraft facility.
Minimum deposit amount of Rs.100.
Maximum deposit amount of Rs.1,99,99,999.
Minimum Investment Amount
100
Fees and Charges
Pros
Flexible interest payout options.
You can avail an overdraft/loan against the FD.
Minimum deposit of Rs. 100.
Maximum deposit amount of Rs.1,99,99,999.
Cons
No tax saving benefits.
Low 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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