Product Details
Bank Name
Punjab National Bank
Eligibility
Individuals /Proprietorship firms/ Partnership firms / Private and Public Limited Companies / HUFs / Specified Associates / Societies / Trusts, Departments of Authority created by Government (Central or State), Limited Liability Partnership.
Interest Rate
6.40% to 6.45% per annum.
Tenure
1204 days, 1895 days
Fixed Deposit Type
Regular
PALAASH GREEN DEPOSIT
Tax Benefits
No
Credit Ratings
IND AAA, ICRA AAA
Interest Payment Frequency
monthly, quarterly, half-yearly, yearly or at 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
Flexibility in interest credit frequency on a monthly, quarterly, half-yearly, annually or at maturity.
Flexible tenure as per convenience.
Premature withdrawal is allowed.
Minimum deposit of Rs.5,000 and maximum deposit amount less than Rs.10 Crore.
Minimum Investment Amount
5,000
Features & Benefits
Pros
Flexibility in interest credit frequency.
Flexible tenure as per convenience.
The maximum deposit amount is Rs 10 crore.
Cons
No tax saving options.
Pros & Cons
Account Opening 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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