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Trusted by 1L+ Indians
Want to Achieve any of the below Goals upto 80% faster?
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Dream Wedding
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Dream Car
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Dream Home
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Dream Wedding
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Dream Car
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Retirement
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Trusted by 3 Crore+ Indians
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Goals upto 80% faster?
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Dream Home
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Dream Wedding
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Dream Car
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Retirement
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1st Crore
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Trusted by 3 Crore+ Indians
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Dream Wedding
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Dream Car
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Retirement
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Dream Wedding
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Dream Car
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Retirement
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PNB RD Interest Rates 2023 - Check PNB Recurring Deposit Rates
PNB RD Interest Rates 2023 - Check PNB Recurring Deposit Rates
![](https://framerusercontent.com/images/GzBP6PYwuKYgMi7iTY3Pnrz8DE.jpg)
![](https://framerusercontent.com/images/GzBP6PYwuKYgMi7iTY3Pnrz8DE.jpg)
![](https://framerusercontent.com/images/GzBP6PYwuKYgMi7iTY3Pnrz8DE.jpg)
May 10, 2023
5 Minutes
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![](https://framerusercontent.com/images/esKnhQGzrivYErxuJSjFgNQcY.png)
"Unlocking Growth with PNB RD Interest Rates 2023: A Comprehensive Guide"
Discover the potential of Punjab National Bank's (PNB) Recurring Deposit (RD) scheme with attractive interest rates for 2023. Owned by the Government of India and established in 1894, PNB stands as a reliable financial institution headquartered in New Delhi.
PNB RD Interest Rates for 2023
Plan your investments wisely with PNB RD interest rates for the year 2023:
180 days – 270 days: 4.40% (General Citizens), 4.90% (Senior Citizens)
271 days – 364 days: 4.40% (General Citizens), 4.90% (Senior Citizens)
1 year: 5.00% (General Citizens), 5.60% (Senior Citizens)
1 year 1 day – 3 years: 5.00% (General Citizens), 5.60% (Senior Citizens)
3 years 1 day – 5 years: 5.25% (General Citizens), 5.75% (Senior Citizens)
5 years 1 day – 10 years: 5.25% (General Citizens), 5.75% (Senior Citizens)
Features of PNB Recurring Deposit Scheme
Explore the distinctive features of PNB's RD scheme to make informed decisions:
Minimum deposit: Rs. 100
Tenure: 180 days to 10 years
Additional interest for senior citizens: 0.50%
Maximum interest rate: 5.75% for senior citizens
Loan facility against deposit
TDS deductions based on income slab
Nomination facility available
Applying for a PNB RD Account: Online and Offline Options
Choose the method that suits you best when applying for a PNB RD account:
Online (Net Banking): Existing customers can open an e-RD through net banking.
Offline (Visiting the Branch): Non-account holders need to open a PNB account first, then log in to net banking to open an e-RD.
Calculating PNB RD Interest: A Formula for Success
Empower yourself with the formula for calculating PNB RD interest: A = P(1+r/n)^nt, where A is the final amount, P is the principal, r is the annual interest rate, n is the compounding frequency, and t is the tenure.
Tax Benefits and TDS Considerations
Navigate the tax landscape with PNB RD:
Tax benefits under the Income Tax Act of 1961
TDS deductions of 10% on interest above Rs. 10,000/year
File Form 15G or 15H to save TDS on RD gains
Eligibility and Documentation for PNB RD
Ensure a smooth application process by meeting eligibility criteria and preparing the necessary documents:
Individuals above 10 years of age
Minors under parental guardianship
Various entities, including HUFs, trusts, and corporations
Required documents: ID proof, address proof, age proof
Withdrawal Policies and Special Considerations
Understand the withdrawal policies and additional considerations:
Premature withdrawal penalty: 1%
RDs not eligible for tax breaks
TDS of 10% for interest above Rs. 40,000/year
Loan facility against RD investments
Conclusion and Disclaimer
Maximize your returns with PNB RD while staying informed. Remember, this information is for reference only, and it's advisable to consult a financial advisor for personalized advice.
"Unlocking Growth with PNB RD Interest Rates 2023: A Comprehensive Guide"
Discover the potential of Punjab National Bank's (PNB) Recurring Deposit (RD) scheme with attractive interest rates for 2023. Owned by the Government of India and established in 1894, PNB stands as a reliable financial institution headquartered in New Delhi.
PNB RD Interest Rates for 2023
Plan your investments wisely with PNB RD interest rates for the year 2023:
180 days – 270 days: 4.40% (General Citizens), 4.90% (Senior Citizens)
271 days – 364 days: 4.40% (General Citizens), 4.90% (Senior Citizens)
1 year: 5.00% (General Citizens), 5.60% (Senior Citizens)
1 year 1 day – 3 years: 5.00% (General Citizens), 5.60% (Senior Citizens)
3 years 1 day – 5 years: 5.25% (General Citizens), 5.75% (Senior Citizens)
5 years 1 day – 10 years: 5.25% (General Citizens), 5.75% (Senior Citizens)
Features of PNB Recurring Deposit Scheme
Explore the distinctive features of PNB's RD scheme to make informed decisions:
Minimum deposit: Rs. 100
Tenure: 180 days to 10 years
Additional interest for senior citizens: 0.50%
Maximum interest rate: 5.75% for senior citizens
Loan facility against deposit
TDS deductions based on income slab
Nomination facility available
Applying for a PNB RD Account: Online and Offline Options
Choose the method that suits you best when applying for a PNB RD account:
Online (Net Banking): Existing customers can open an e-RD through net banking.
Offline (Visiting the Branch): Non-account holders need to open a PNB account first, then log in to net banking to open an e-RD.
Calculating PNB RD Interest: A Formula for Success
Empower yourself with the formula for calculating PNB RD interest: A = P(1+r/n)^nt, where A is the final amount, P is the principal, r is the annual interest rate, n is the compounding frequency, and t is the tenure.
Tax Benefits and TDS Considerations
Navigate the tax landscape with PNB RD:
Tax benefits under the Income Tax Act of 1961
TDS deductions of 10% on interest above Rs. 10,000/year
File Form 15G or 15H to save TDS on RD gains
Eligibility and Documentation for PNB RD
Ensure a smooth application process by meeting eligibility criteria and preparing the necessary documents:
Individuals above 10 years of age
Minors under parental guardianship
Various entities, including HUFs, trusts, and corporations
Required documents: ID proof, address proof, age proof
Withdrawal Policies and Special Considerations
Understand the withdrawal policies and additional considerations:
Premature withdrawal penalty: 1%
RDs not eligible for tax breaks
TDS of 10% for interest above Rs. 40,000/year
Loan facility against RD investments
Conclusion and Disclaimer
Maximize your returns with PNB RD while staying informed. Remember, this information is for reference only, and it's advisable to consult a financial advisor for personalized advice.
Author
![Harish Malhi](https://framerusercontent.com/images/h6g0FcqXfj7IKoouHlXDw2YoI.png)
![Harish Malhi](https://framerusercontent.com/images/h6g0FcqXfj7IKoouHlXDw2YoI.png)
![Harish Malhi](https://framerusercontent.com/images/h6g0FcqXfj7IKoouHlXDw2YoI.png)
Pluto Team
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