PNB FD Rates

With fixed deposits, you get the opportunity to secure a vast fortune by making small investments. You can rely on fixed deposits to manage your portfolio and associated risks, regardless of whether you are a newbie or experienced. So, if you are looking for a banking institution that can reward you with great interest rates and guaranteed capital, you may look into Punjab National Bank’s fixed deposits.

Concerning banking services and customer base, Punjab National Bank is the second-largest bank operated by the Indian Government. To offer satisfactory schemes to a broad spectrum of their client base, PNB provides a good deal of fixed deposit schemes. So, before investing in any of the available fixed deposit schemes, you must get acquainted with the PNB fixed deposit rates. You can invest an amount ranging from Rupees 100 to 10 crore as a depositor. Additionally, the PNB FD rates start from  2.90%, which can go up to 5.75%.

Let’s examine available PNB fixed deposit schemes, PNB fixed deposit rates and other correlated aspects to make the hunt easier.

PNB Fixed Deposit

One of the most important investment options provided by the Punjab National Bank is the PNB fixed deposits. It is typically one of the most well-liked solutions for fixed deposits. The bank offers a broad range of investment tenure options that you can select from. The interest rates on the deposits are also rather alluring.

PNB fixed deposit rates may fall between 2.9% to 5.25% (general public), whereas, for senior citizens, the interest rates stretch to 5.75%.

NRIs can also take advantage of the benefits of the PNB FD rates, as it is not limited to Indian citizens. Put your money in the NRE or NRO FD schemes as a non-resident Indian to earn interest on the amount deposited.

US Dollars, GBP – British Pound Sterling, Euro, Canadian Dollar, Japanese Yen, and Australian Dollars are all accepted currencies for the FCNR (B) fixed deposit.

PNB FD Rates Aug 2022

The below table pertains to the PNB FD interest rates of numerous tenures for August 2022: 

5.75% per annum	Highest Slab Rate
5.30% per annum.	For one year,
5.45% per annum.	For two years,
5.50% per annum.	For three years,
5.75% per annum	For four years
5.75% per annum	For five years
5.75% per annum (for five years) 5.60% per annum (for the range of five years to ten years)	Tax-Saving FD

PNB FD Rates: Key Highlights

• PNB FD rates fall in the range of 3.00 per cent per year to 5.60 per cent per year.
• At maximum, you can avail of an interest rate of 5.60 per cent per annum.
• Rates for PNB Tax Saving FDs are 5.25 per cent annually for the general population and 5.75 per cent annually for seniors.
• 65% p.a. is the highest PNB Uttam deposit scheme.

Punjab National Bank Fixed Deposit – Schemes

PNB offers an array of FD schemes to cope with citizens’ versatile requirements. Here’s the list of fixed deposit schemes offered by the Punjab National Bank.

PNB FD Scheme	Details of Scheme
Annuity Term, Deposit FD Scheme	According to the court’s orders in favour of the victims of road accidents, the money that the Motor Tribunals have deposited is added to the MACAD or Motor Accident Claims Annuity Deposit. Within three to ten years, people can deposit their lump sum claim in monthly instalments.
PNB Uttam Non-Callable Term Deposit FD Scheme	Best choice for deposits of INR 15 lakhs. Comes with a maturity period that can be extended up to ten years and begins at 91 days. The benefits of this programme are available to individuals, HUFs, children (under 18), proprietorships, groups, and clubs together with illiterate people and people with special needs (blind people).
PNB Anupam FD Scheme	Has a built-in overdraft facility. Deposit amounts range from 10000 – 9999000 Indian rupees.
PNB Balika Shiksha	Under this arrangement, a fixed sum of INR 3,000 is placed. This sum is further deposited under the following name: a girl student specifically from Kasturba Gandhi Girls High Schools’ who is enrolled in the eighth grade. a female engaged in grade 9 studies and is a member of one of the reserved groups, such as SC or ST. This enrolment must be restricted to the local body or State or Union Territory Government-aided schools.
Capital Gain Account	To credit capital gain income straight into the linked account, you can open a capital gain account. In this category, joint accounts are not permitted.
PNB Multi-Benefit Term Deposit FD Scheme	The minimum deposit amount for this scheme is INR 100. Then, under this plan, a sum in rupee 1 multiple can be deposited. However, the top limit is only INR 1,99,999.99.
PNB Special Term FD Scheme	Deposits for this programme range from 100 to 2 crores of Indian rupees. The duration of this plan ranges from one year to ten years.
PNB Sugam Fixed Deposits	The range of fixed deposit amounts is ten thousand to ten crore. The time period for this plan starts at 46 days. In addition to complete withdrawal, early partial withdrawal is not subject to penalties.
PNB Systematic Deposit Plan	Under this scheme, a minimum deposit of INR 100 can be made. Following that, you can deposit the money in increments of 1. Additionally, a monthly deposit cannot exceed ten times the original sum.
PNB Ordinary Term Deposit FD Scheme	You can open the TDO account by putting INR 100 and additional funds in Re.1 multiple. However, this sum can only go up to INR 19999999.
PNB Varshik Aay Yojna	The minimum fixed deposit amount is ten thousand rupees, while the maximum amount allowed under this programme is one lakh. The maturity period is between two to ten years
PNB Tax Saver FD Scheme	The maximum deposit amount for any financial year is INR 1.5 lacs. The duration can last up to ten years at most. The deposit amount’s lock-in term under this arrangement is limited to 5 years. Senior folks who have signed up for this programme receive a benefit of 1% extra interest on the advertised rate.
PNB Pranam FD Scheme	The minimal deposit amount is only 100 INR for people between 55 and 60. After that, you can add more money in rupee 1 multiple to your deposit. It is only possible to deposit an amount up to INR 1, 9999999. Senior citizens can get a higher interest rate on top of the one that is already available.
PNB MIBOR Linked Notice Deposit Scheme	Under this programme, the offered interest rate is based on the MIBOR, or Mumbai Interbank Offer Rate. Only the metro city and its affiliated branches are subject to this programme. Under this initiative, a single deposit is available for up to ten crores. Available time frames range from seven days to sixty days.
PNB Floating Rate FD Scheme	This scheme requires you to deposit one thousand rupees at a minimum. After that, you can add more money in multiples of ten rupees to your submission. The maturity period spans from seven to ten years.
PNB Bulk FD Scheme	The best option for deposits over rupees ten crores. The scheme’s maturity choice ranges from seven days to five years. From the first six months of a deposit up to ten years, the income option is available.
PNB Growth FD Scheme	Built specifically for deposits between two crore and ten crore rupees. The money placed has a maturity time ranging from seven to ten years.
PNB NRE Sugam Scheme	Built specifically for shared capacity and individual NRIs. Under this plan, there is no upper limit. The minimum deposit amount is restricted to INR 10,000. The duration is between a year and ten years.
PNB NRO Sugam Scheme	Applicable to PIOs (Persons of Indian Origin) and NRIs. Minimum deposit is 10,000 rupees. The upper limit for deposit is capped at rupees 10 crores. The minimum duration is 46 days, extending to ten years.

Features and Benefits of Punjab National Bank FDs

With Punjab National Bank fixed deposits, and you unlock doors to numerous benefits such as high-interest rates, huge FD rates, and easy processing. Here’s what else you don’t want to miss out on. 

1. If you opt for the auto-renewal of your FD, the term deposit is renewed  automatically as soon as your fixed deposit reaches the maturity date. This is available under specific PNB FD schemes, including Recurring Deposit, Capital Gains, PNB Tax Saving FDs, Bulk Term Deposits, and Inter-Bank Deposits.
2. Specific FD schemes have been designed for such individuals to make the entire process quick and straightforward.
3. Availability of TDS certification.
4. PNB FD rates are higher than other bank FD rates.
5. You can secure a loan against your PNB fixed deposit amount.
6. You can start investing with an amount as low as rupees 100.
7. You get the option to choose the best fit as PNB offers a wide range of FD schemes to cope with a versatile customer base.

Eligibility Criteria for Punjab National Bank FD

To enjoy the benefits of PNB fixed deposits, you must belong to any of the mentioned categories.

S. No.	Category
1	Individuals can avail FD schemes singly or jointly.
2	Minors can avail of PNB FD schemes that fall in the age bar of 10 and above.
3	Proprietorship
4	Commercial organisation
5	Enterprises and corporate body
6	Hindu Undivided Family (HUF)
7	Association/ club/ society
8	Religious or charitable trust
9	Educational institutions
10	Municipality or panchayat
11	Government and Quasi-government body
12	Illiterate and specially-abled persons (blind)

Loan Against PNB Fixed Deposits

PNB provides borrowers and outside parties with loans secured by fixed deposits. At any Punjab National Bank branch, you can extend the loan account. The margin band for the advance made against the rupee term deposit is shown in the following table:

Amount Granted Against Rupee Term Deposits

Margin Percent	Maturity Period Remaining at the Time of Granting Advances
	Advance against Term Deposit in Borrowers name
5 Per cent	Up to two years
7.5 Per cent	More than two years and less than three years
10 Per cent	More than three years and less than four years
12 Per cent	More than four years and less than five years
20 Per cent (at minimum)	More than five years
25 Per cent (at minimum)	Amount Against Deposits Made By the Third Party
	Staff Members/ Retired Personnel/ Voluntarily Retired Individuals/ Widow of Staff:
5 Per cent	Advance Amount of INR 3 Lacs at maximum
As Applicable	Advance Amount above INR 3 Lacs

Loan Against Non-Resident Deposits (FCNR/NRO)

Margin Percent	Remaining Maturity Period At the Time of Granting Advances
	Loan offered against FCNR(B) Deposit to the Depositor
10 Per cent	Up to a year
20 Per cent	More than one year and less than two years
30 Per cent	More than two years
	Amount offered against third party deposits
20 Per cent	Up to two years
30 Per cent	More than two years
25 Per cent	NRO -Term Deposits

PNB FD Minimum/ Maximum Deposit Amount

If you have finalised your decision to invest in PNB fixed deposits, you must get familiar with the minimum and maximum investment limits. At a minimum, you can deposit an amount of rupees 100. Additionally, you can make a maximum investment of rupees 1,99,99,999. The best part is to cope with varying customer needs. Punjab National Bank offers plenty of FD schemes that are not limited to Indian citizens. NRIs can also avail of the benefits of PNB fixed deposits.

Compare PNB FD Rates with Top Banks FDs

When it comes to fixed deposit returns, Indian banks have strong competition. The following table represents the leading banks, their fixed deposit interest rates, minimum deposit amounts, and investment tenure. This comparison will help you to get a clear picture of how FD rates offered by other banks differ from PNB FD rates.

Bank	Minimum Deposit (in INR)	Tenure	Interest Rate (p.a.)
Bajaj Finance Ltd.	15,000	1 – 5yrs	6.03% – 7.75%
SBI Bank	1,000	1 – 10yrs	2.90% – 5.40%
ICICI Bank	10,000	1 – 10yrs	2.50% – 5.60%
Axis Bank	5,000	1 – 10yrs	2.50% – 5.75%
HDFC Bank	5,000	1 – 10yrs	2.50% – 5.50%
Bank of Baroda	1,000	1 – 10yrs	2.80% – 5.25%
IDFC Bank	10,000	1 – 10yrs	3.00% – 4.65%
Kotak Mahindra Bank	5,000	1 – 10yrs	2.50% – 5.30%
Canara Bank	1,000	1 – 10yrs	2.90% – 5.35%
Yes Bank	10,000	1 – 10yrs	3.25% – 6.25%
IndusInd Bank	10,000	1yr – 5yrs 1m	2.50% – 6.00%
Punjab National Bank	1,000	1 – 10yrs	2.90% – 5.25%
IDBI Bank	10,000	1 – 20yrs	2.70% – 5.40%
Union Bank	1,000	1 – 10yrs	3.00% – 5.50%
Citibank	1,000	1 – 5yrs	1.85% – 3.50%
RBL Bank	1,000	1 – 10yrs	3.25% – 6.30%
Indian Bank	1,000	1 – 10yrs	2.80% – 5.25%

How to Open a PNB FD Account?

You get multiple options to open a PNB FD account. But initially, you must have a savings account in Punjab National Bank. You can now opt for an online or offline procedure based on convenience. If you are looking forward to opening an FD account from your home comfort, count on the official website or mobile banking app.  You can also visit the nearest bank branch to open your fixed deposit account.

Open Online FD Account through Official Portal

• Visit the website of PNB bank.
• Scroll down to the net banking section and log in using your credentials.
• Now, open the menu and select the ‘Deposits’ tab.
• From the available options, choose the ‘Fixed Deposit’ option.
• Now, choose your deposit amount and investment tenure.
• Enter the asked information along with the scanned copy of said documents.
• And click on ‘Submit’.

You are now done with the formalities. After this, the bank executives will verify the submitted details, opening your account.

Open FD Account through PNB Mobile Application

• Download the PNB mobile application and log in by registering through your mobile number.
• Open the menu section and click on ‘Deposits’.
• From the available options, select ‘Fixed Deposit’.
• Enter said information such as amount, investment time frame, etc.
• Upload the scanned copies of the required documents and submit your application.

Keep depositing the amount every month and enjoy your returns on maturity.

Open FD Account: Offline Procedure

You can now open a PNB FD account offline. All you have to do is visit your location’s closest Punjab National Branch with the required documents. Throughout this step, you will receive assistance from a designated bank executive. Complete the provided fixed deposit form and submit it with the hard copies of the said documents. Upon doing so, the bank executives review your submitted application form. Your FD account will be opened once the provided details have been verified. You can now begin by transferring monthly deposits into your PNB fixed deposit account and enjoy the benefits of a good interest rate upon maturity.