PNB FD Interest Rates: Discover Latest Updates

PNB FD Interest Rates: Discover Latest Updates

Unlocking Financial Growth with Punjab National Bank (PNB) Fixed Deposits

Welcome to the world of financial security and growth with Punjab National Bank (PNB), India's pioneer Swadeshi Bank. With a sprawling network of 10,925 branches and 13,914 ATMs across India, PNB also extends its banking excellence to 6 countries overseas.

PNB Fixed Deposit: A Gateway to Steady Returns

PNB empowers its customers with a spectrum of fixed deposit options, featuring interest rates spanning from 3.00% p.a. to 5.25% p.a. These fixed deposits ensure that your money is securely parked for a chosen tenure, and the interest rates are tailored accordingly.

Diverse Fixed Deposit Schemes to Suit Your Needs

Regular Fixed Deposits:

Flexibility and security with returns at maturity.

Overdraft facility up to 75% against the deposit.

Eligible entities: Resident Indians, HUFs, companies, trusts, and partnership firms.

FD Scheme for Road Accident Victims:

Funds for motor insurance claims to road accident victims.

Simple or compound interest options.

Auto-renewal facility available.

Eligible entities: Individuals, HUFs, companies, trusts, and partnership firms.

PNB Sugam Term Deposit Scheme:

Greater flexibility with higher interest rates.

Partial withdrawals before maturity.

Monthly, quarterly, half-yearly, or yearly interest withdrawal options.

Eligible entities: Minors (10 years and above), HUFs, sole proprietorship, and partnership firms.

PNB Anupam Term Deposit Scheme:

Inbuilt overdraft facility.

Minimum deposit of Rs. 10,000.

Flexible tenure (6 months to 120 months).

Eligible entities: Salaried or self-employed individuals (18 years and above).

PNB Balika Shiksha Fixed Deposit Scheme:

Tailored for girls who have passed 8th grade.

Auto-renewal for 30 days.

No loans or advances allowed.

Eligible entities: Girl students from Kasturba Gandhi Balika Vidyalayas.

PNB Multi-Benefit Deposit Scheme:

Multiple benefits with higher interest rates.

Loan or overdraft facility up to 90% against the deposit.

Eligible entities: Resident Indians, HUFs, partnership firms, trusts, corporations, government bodies, and minors (10 years and above).

PNB Swechha Jama Yojna Flexi FD Scheme:

Save with flexibility (minimum deposit starting from Rs. 100).

Interest paid half-yearly.

Loan facility up to 90% against the deposit.

Eligible entities: Resident Indians, HUFs, sole proprietorship, and partnership firms.

PNB Varshik Aay Deposit Scheme:

Interest compounded quarterly and paid annually.

Loan facility up to 90% of the deposit amount.

Eligible entities: Resident Indians, minors (10 years and above), HUFs, sole proprietorship, and partnership firms.

PNB Tax Saver Deposit Scheme:

Dual benefits of tax exemption under section 80C and competitive returns.

Loan facility available up to 90% of the deposit amount.

Eligible entities: Individuals seeking tax benefits.

Prospective Senior Citizen Term Deposit Scheme:

Higher interest rates for senior citizens.

Loan facility up to 90% against the deposit.

Eligible entities: Senior citizens (60 years and above).

PNB Mibor Linked Notice Deposit Scheme:

Market-determined interest rate linked to MIBOR.

Auto-renewal facility available.

No limit for acceptance of deposit under the scheme.

Eligible entities: Individuals with high net worth, companies, public sector undertakings, and commercial organizations.

PNB Bulk Fixed Deposit Scheme:

Single deposit of Rs. 10.00 crore.

Loan or overdraft facility up to 90% against the deposit.

Eligible entities: Individuals, HUFs, companies, trusts, and partnership firms.

Understanding PNB FD Interest Rates

PNB FD interest rates vary based on the deposit tenure:

Short-term deposits (7 days to 12 months): 3.00% p.a. to 4.50% p.a.

Medium-term deposits (1 year to less than 5 years): 5.50% p.a. to 5.75% p.a.

Long-term deposits (5 years to 10 years): 5.65% p.a.

How to Open a PNB Fixed Deposit

Online Method:

Use the PNB mobile app or internet banking.

Fill necessary details, nominee information, and maturity instructions.

Opt for door-step assistance if required.

FD booked after verification and validation.

Offline Method:

Visit the nearest PNB Bank branch.

Fill the FD application form and submit documents along with the deposit amount.

FD certificate dispatched after successful processing.

Eligibility and Documents

Eligibility:

Resident individuals, non-resident Indians, HUFs, sole proprietorship, partnership firms, companies, registered societies, trusts, and associations.

Documents Required:

Identification proof, PAN card, address proof, passport-size photographs, and bank account statements.

Tax Implications and Other Benefits

Tax on PNB FD:

Tax-saving FD offers exemption under Section 80C, up to Rs. 1,50,000 per year.

Interest income taxed according to slab rates, with a 10% TDS for income exceeding Rs. 40,000 per year (Rs. 50,000 for senior citizens).

Loans Against FD:

PNB offers loans up to 90% of the deposit amount.

Interest rates for loans range from 4% to 6.3%.

Premature Withdrawals:

All PNB FDs can be withdrawn prematurely (except tax-saving FD).

Penalty of 1% on interest for premature withdrawals.

Frequently Asked Questions (FAQs)

Is interest on fixed deposits taxable?

Yes, interest on FDs is taxable if total interest income exceeds Rs. 10,000 in a financial year.

What is the highest FD rate offered by PNB?

The highest interest rate offered on PNB fixed deposits is 7.25%.

What are the current PNB FD interest rates?

PNB FD rates range from 3.50% p.a. to 7.25% p.a. for regular deposits. Senior citizens can avail rates from 4.30% p.a. to 8.05% p.a.

Can additional amounts be deposited into an FD account?

No, additional deposits are not allowed; only the initial deposit at the time of account opening is permitted.

How to calculate PNB FD interest?

Use the formula: Maturity Amount = Investment Amount x (1 + Interest Rate/Times Compounded)^(Number of Times Compounded x Time Period).

Explore the myriad fixed deposit options offered by PNB and embark on a journey of financial growth. Choose the scheme that aligns with your financial goals and secure your future with PNB.

Unlocking Financial Growth with Punjab National Bank (PNB) Fixed Deposits

Welcome to the world of financial security and growth with Punjab National Bank (PNB), India's pioneer Swadeshi Bank. With a sprawling network of 10,925 branches and 13,914 ATMs across India, PNB also extends its banking excellence to 6 countries overseas.

PNB Fixed Deposit: A Gateway to Steady Returns

PNB empowers its customers with a spectrum of fixed deposit options, featuring interest rates spanning from 3.00% p.a. to 5.25% p.a. These fixed deposits ensure that your money is securely parked for a chosen tenure, and the interest rates are tailored accordingly.

Diverse Fixed Deposit Schemes to Suit Your Needs

Regular Fixed Deposits:

Flexibility and security with returns at maturity.

Overdraft facility up to 75% against the deposit.

Eligible entities: Resident Indians, HUFs, companies, trusts, and partnership firms.

FD Scheme for Road Accident Victims:

Funds for motor insurance claims to road accident victims.

Simple or compound interest options.

Auto-renewal facility available.

Eligible entities: Individuals, HUFs, companies, trusts, and partnership firms.

PNB Sugam Term Deposit Scheme:

Greater flexibility with higher interest rates.

Partial withdrawals before maturity.

Monthly, quarterly, half-yearly, or yearly interest withdrawal options.

Eligible entities: Minors (10 years and above), HUFs, sole proprietorship, and partnership firms.

PNB Anupam Term Deposit Scheme:

Inbuilt overdraft facility.

Minimum deposit of Rs. 10,000.

Flexible tenure (6 months to 120 months).

Eligible entities: Salaried or self-employed individuals (18 years and above).

PNB Balika Shiksha Fixed Deposit Scheme:

Tailored for girls who have passed 8th grade.

Auto-renewal for 30 days.

No loans or advances allowed.

Eligible entities: Girl students from Kasturba Gandhi Balika Vidyalayas.

PNB Multi-Benefit Deposit Scheme:

Multiple benefits with higher interest rates.

Loan or overdraft facility up to 90% against the deposit.

Eligible entities: Resident Indians, HUFs, partnership firms, trusts, corporations, government bodies, and minors (10 years and above).

PNB Swechha Jama Yojna Flexi FD Scheme:

Save with flexibility (minimum deposit starting from Rs. 100).

Interest paid half-yearly.

Loan facility up to 90% against the deposit.

Eligible entities: Resident Indians, HUFs, sole proprietorship, and partnership firms.

PNB Varshik Aay Deposit Scheme:

Interest compounded quarterly and paid annually.

Loan facility up to 90% of the deposit amount.

Eligible entities: Resident Indians, minors (10 years and above), HUFs, sole proprietorship, and partnership firms.

PNB Tax Saver Deposit Scheme:

Dual benefits of tax exemption under section 80C and competitive returns.

Loan facility available up to 90% of the deposit amount.

Eligible entities: Individuals seeking tax benefits.

Prospective Senior Citizen Term Deposit Scheme:

Higher interest rates for senior citizens.

Loan facility up to 90% against the deposit.

Eligible entities: Senior citizens (60 years and above).

PNB Mibor Linked Notice Deposit Scheme:

Market-determined interest rate linked to MIBOR.

Auto-renewal facility available.

No limit for acceptance of deposit under the scheme.

Eligible entities: Individuals with high net worth, companies, public sector undertakings, and commercial organizations.

PNB Bulk Fixed Deposit Scheme:

Single deposit of Rs. 10.00 crore.

Loan or overdraft facility up to 90% against the deposit.

Eligible entities: Individuals, HUFs, companies, trusts, and partnership firms.

Understanding PNB FD Interest Rates

PNB FD interest rates vary based on the deposit tenure:

Short-term deposits (7 days to 12 months): 3.00% p.a. to 4.50% p.a.

Medium-term deposits (1 year to less than 5 years): 5.50% p.a. to 5.75% p.a.

Long-term deposits (5 years to 10 years): 5.65% p.a.

How to Open a PNB Fixed Deposit

Online Method:

Use the PNB mobile app or internet banking.

Fill necessary details, nominee information, and maturity instructions.

Opt for door-step assistance if required.

FD booked after verification and validation.

Offline Method:

Visit the nearest PNB Bank branch.

Fill the FD application form and submit documents along with the deposit amount.

FD certificate dispatched after successful processing.

Eligibility and Documents

Eligibility:

Resident individuals, non-resident Indians, HUFs, sole proprietorship, partnership firms, companies, registered societies, trusts, and associations.

Documents Required:

Identification proof, PAN card, address proof, passport-size photographs, and bank account statements.

Tax Implications and Other Benefits

Tax on PNB FD:

Tax-saving FD offers exemption under Section 80C, up to Rs. 1,50,000 per year.

Interest income taxed according to slab rates, with a 10% TDS for income exceeding Rs. 40,000 per year (Rs. 50,000 for senior citizens).

Loans Against FD:

PNB offers loans up to 90% of the deposit amount.

Interest rates for loans range from 4% to 6.3%.

Premature Withdrawals:

All PNB FDs can be withdrawn prematurely (except tax-saving FD).

Penalty of 1% on interest for premature withdrawals.

Frequently Asked Questions (FAQs)

Is interest on fixed deposits taxable?

Yes, interest on FDs is taxable if total interest income exceeds Rs. 10,000 in a financial year.

What is the highest FD rate offered by PNB?

The highest interest rate offered on PNB fixed deposits is 7.25%.

What are the current PNB FD interest rates?

PNB FD rates range from 3.50% p.a. to 7.25% p.a. for regular deposits. Senior citizens can avail rates from 4.30% p.a. to 8.05% p.a.

Can additional amounts be deposited into an FD account?

No, additional deposits are not allowed; only the initial deposit at the time of account opening is permitted.

How to calculate PNB FD interest?

Use the formula: Maturity Amount = Investment Amount x (1 + Interest Rate/Times Compounded)^(Number of Times Compounded x Time Period).

Explore the myriad fixed deposit options offered by PNB and embark on a journey of financial growth. Choose the scheme that aligns with your financial goals and secure your future with PNB.

Download App

Explore More

Managing assets totalling over 1 crore+