PNB Ordinary Term Deposit Scheme|Punjab National Bank Fixed Deposit Rates-– Interest Rate, Calculator & Benefits

Fixed Deposit 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 5.50% per annum

Tenure

7 days to 179 days.

Fixed Deposit Type

Regular

PNB Ordinary Term Deposit Scheme

Tax Benefits

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). 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

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

Features & Benefits

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

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.

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