PNB Bank Tax Saving FD Scheme

Overview

The PNB Tax Saver FD scheme allows investors to earn lucrative and secure deposit returns. This investment cum savings scheme enables the investors to park their corpus in a safe and secure investment product. The financial institution offers the PNB Tax shield scheme to allow investors to save tax while simultaneously earning substantial profits.

PNB Bank is one of the most well-established public sector banks in the banking sector, offering a diverse set of investment and financial products to the customer base in India.

Eligibility Criteria

The following individuals can park their investment in the PNB Tax Saver FD.

• Indian Citizens
• Salaried and self-employed individuals
• Minors (Can be established if it is a joint account)
• Hindu Undivided Family

Documents Required

An individual that is inclined to invest in a PNB Tax Saver Fixed Deposit Scheme is required to produce the following documents:

Documents to be Produced for Identification Proof

• PAN Card (Permanent Account Number)
• Driving License
• Voter ID
• Passport
• Government ID
• Senior Citizen ID Card

Documents to be Produced for Address Proof

• Telephone Bill
• Passport
• Electricity Bill
• Bank Statement
• The post office issued an ID.

The applicant for the scheme is also required to produce two passport-size photographs and documents.

KEY ATTRACTIONS

The PNB Bank Tax Saver FD entails the following key attractions:

• The PNB Bank Tax Saver FD allows investors to establish a joint account.
• The investor can establish a PNB Bank tax-saver FD with a minimum deposit of Rs 100.
• The depositor can earn interest on their Fixed deposits on a cumulative and non-cumulative basis.
• An additional interest rate of 0.5% is offered to the senior citizens who have parked their corpus in the deposits.

Features & Benefits

The PNB Bank Tax Saver FD entails the following features and provides the following benefits:

• The individuals and entities such as a Hindu Undivided Family can apply to the scheme.
• The tenure of the investment ranges from five to ten years.
• The lock-in period of this investment scheme is five years.
• The depositor can allot a nominee or beneficiary to the scheme.

How to Apply for PNB Bank Tax Saving FD

An investor can establish their PNB Bank Tax Saving FD account through the following avenues:

PNB Tax-Saving FD Online

The applicant can open their PNB Tax Saving FD account through their netbanking account. The individual can obtain their application form and mention details such as amount, tenure, maturity collection option, nomination and interest payment option. The returns from the investment will be deposited automatically in the savings bank account. The applicant will receive the deposit receipt in their registered e-mail. The applicant must not submit any other documents if they have updated their KYC.

PNB Tax- Saving FD Offline

The applicant must visit the nearest branch and accurately fill out the opening form. They must also submit other documents authenticating their identification proof such as PAN, Aadhaar Card, Voter ID, passport-size photographs, etc.