PNB Systematic Deposit Plan|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/her own name on giving proof of age. Minors below the age of 10 years under guardianship of a Natural/legal guardian. In this names of entities other than Individuals such as firms, clubs, asociations, trusts, educational institutions, Municipal Corporations, Panchayat, Govt. and quasi-Govt.bodies, Co-operative societies, religious or charitable institutions, HUFs and Corporate etc.

Interest Rate

6.25 to 7.25% per annum.

Tenure

6 months to 60 months.

Fixed Deposit Type

Recurring

PNB Systematic Deposit Plan

Tax Benefits

Credit Ratings

IND AAA, ICRA AAA

Interest Payment Frequency

Half-yearly. 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

• Minimum deposit amount of Rs.100.
• The maximum deposit amount must not be more than 10 times the core amount.
• Loan/overdraft against deposit is available.

Minimum Investment Amount

100

Features & Benefits

Pros

• Minimum deposit amount of Rs.100.
• Cumulative rate of interest.
• Loan/overdraft against deposit is available

Cons

• Only half-yearly interest payout option.
• Maximum tenure of 5 years only.

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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