Fixed Deposits (FDs) remain a cornerstone of secure investment in India, offering predictable returns with minimal risk. Punjab National Bank (PNB), a trusted financial institution, provides a diverse range of FD options tailored to meet the varied investment goals of its customers. This guide delves into the details of PNB’s FD offerings, exploring interest rates, benefits, and special schemes to help you make informed investment decisions.
Punjab National Bank offers interest rates on its Fixed Deposit schemes, which vary based on the tenure of the deposit and the type of FD account.
Here is a detailed breakdown of the current FD interest rates offered by Punjab National Bank:
| Tenure | Interest Rate (per annum) |
| 7 days to 14 days | 3.00% |
| 15 days to 29 days | 3.00% |
| 30 days to 45 days | 3.25% |
| 46 days to 90 days | 4.00% |
| 91 days to 179 days | 4.50% |
| 180 days to 270 days | 5.00% |
| 271 days to 364 days | 5.50% |
| 1 year to 2 years | 6.60% |
| 2 years to 3 years | 6.50% |
| 3 years to 5 years | 6.25% |
| 5 years and Above | 6.25% |
PNB FD offers a unique ‘Combo FD’ scheme where you can combine different types of FDs, such as a regular FD with a tax-saving FD, into a single portfolio. This allows you to diversify your investment strategy within one account, balancing short-term liquidity needs with long-term savings goals.
The ‘PNB Sugam Term Deposit’ allows you to withdraw a portion of your deposit without breaking the entire FD. This feature is ideal for those who might need access to funds in emergencies while still earning interest on the remaining amount.
PNB’s ‘Progressive FD’ offers an increasing interest rate structure where the interest rate steps up at regular intervals during the FD tenure. This is beneficial for long-term investors who wish to maximize their returns as market conditions improve.
PNB offers a special FD scheme named ‘Balika Shiksha,’ specifically designed to encourage savings for the education of girl children. The scheme offers attractive interest rates and additional benefits for the girl child upon maturity, promoting both financial security and educational empowerment.
PNB’s ‘Recurring Plus FD’ allows you to merge your recurring deposit savings with a fixed deposit at the end of the RD term. This option helps in automatically transitioning your savings into a higher interest-earning product without additional paperwork or procedures.
Unlike conventional FDs with fixed tenures, PNB offers a ‘Flexible Tenure FD’ where you can choose specific maturity dates to align with your financial goals, such as saving for a child’s education or a significant future event.
PNB rewards customers with loyalty points when they renew their FDs. These points can be redeemed for banking services, discounts on loans, or special privileges in the bank’s rewards program, providing an additional incentive to maintain long-term deposits with PNB.
PNB offers a ‘Senior Citizen Care FD,’ where senior citizens not only receive higher interest rates but also benefit from additional health check-up discounts, priority banking services, and special insurance covers linked to their FD accounts.
PNB encourages sustainable banking through its ‘Green Initiative FD,’ which offers investors the option to contribute a portion of their interest earnings to environmental causes supported by the bank. This unique offering blends financial growth with social responsibility.
PNB’s ‘Mobi-FD’ is designed for tech-savvy customers who prefer mobile banking. It provides exclusive interest rate offers and easy management options directly through the PNB ONE mobile app, ensuring a seamless and convenient investment experience.
You may also want to know Indian Overseas Bank FD Interest Rates
Punjab National Bank offers special interest rates for senior citizens starting from 7 days to 10 years (aged 60 years and above) on fixed deposits. Senior citizens typically receive an additional 0.50% interest rate over and above the regular rates.
Here are the current fixed deposit interest rates for senior citizens:
| Tenure | Interest Rate (per annum) |
| 7 days to 14 days | 3.50% |
| 15 days to 29 days | 3.50% |
| 30 days to 45 days | 3.75% |
| 46 days to 90 days | 4.50% |
| 91 days to 179 days | 5.00% |
| 180 days to 270 days | 5.50% |
| 271 days to 364 days | 6.00% |
| 1 year to 2 years | 7.10% |
| 2 years to 3 years | 7.00% |
| 3 years to 5 years | 6.75% |
| 5 years and Above | 6.75% |
Punjab National Bank also offers Fixed Deposit schemes for Non-Resident Indians (NRIs). The Non-Resident External (NRE) FD accounts provide attractive interest rates and are fully repatriable, making them an excellent investment option for NRIs. Here are the current NRE FD interest rates:
Punjab National Bank offers a Tax Saver FD scheme that allows individuals to save on taxes under Section 80C of the Income Tax Act. The scheme comes with a lock-in period of 5 years, during which the deposit cannot be withdrawn. Here are the interest rates for the Punjab National Bank Tax Saver FD:
Punjab National Bank provides an FD interest rates calculator on its official website. This tool helps you calculate the maturity amount and interest earned on your Fixed Deposit. Here’s how to use it:
You may also want to know IndusInd Bank FD Interest Rates
You can open an FD account online through Punjab National Bank’s internet banking portal or visit the nearest branch. Here are the steps to open an FD account online:
Targeted Offers: PNB caters to different customer types with specific FD products. For instance, if you’re a senior citizen, PNB offers special interest rates. If you’re an NRI, PNB provides Non-Resident External (NRE) and Non-Resident Ordinary (NRO) FD accounts.
Innovative Approach to Online: PNB’s online platform integrates a seamless experience using PNB Net Banking or PNB ONE mobile app, which includes features like ‘Quick FD’—allowing users to set up FDs in just a few clicks with predefined templates for common FD tenures and amounts.
Digital Onboarding for New Customers: New customers can also start the process online. PNB offers an e-KYC (Know Your Customer) process, where you can complete identity verification using Aadhaar and PAN, followed by a video KYC, which has been integrated into their app.
Enhanced KYC Compliance: PNB requires standard documents like Aadhaar and PAN, but they also accept digitally signed documents via DigiLocker, enhancing security and reducing the need for physical submissions.
Personalized FD Plans: PNB allows you to customize your FD with features like ‘PNB Maturity Booster,’ where you can opt for higher interest payouts upon maturity by choosing specific tenures that align with market forecasts provided by PNB’s financial advisors.
Flexible Investment Plans: They also offer ‘PNB Ladder FD,’ a scheme where your total investment is divided across multiple FDs with varying maturities, helping manage liquidity better.
Staggered Investments: PNB supports staggered investments, where you can start with a smaller amount and add funds over time to the same FD. This is useful if you’re expecting future inflows but want to lock in current interest rates.
Auto-Save FD: PNB offers an ‘Auto-Save FD’ feature, where every month, a predetermined amount from your savings account automatically goes into an FD, helping in systematic savings.
Integrated Chatbot Assistance: You can initiate the FD process via PNB’s AI-powered chatbot on their website or app, which guides you through the entire process, answers queries, and helps set up the FD.
Digital Nomination Updates: During the FD setup, you can use PNB’s Net Banking to update nominations without visiting the branch. Additionally, you can choose to auto-renew your FD or transfer the maturity proceeds to a recurring deposit for continued growth.
Step-Up FD: This option allows you to start with a lower deposit amount, gradually increasing it over time, which can be especially useful for younger investors who anticipate an increase in disposable income.
e-Certificate with Built-in Reminders: The FD certificate comes with an integrated calendar reminder feature, ensuring you are notified well in advance of your FD’s maturity date. You can also track and manage your FD through PNB’s mobile app, which offers personalized financial insights and suggestions for renewal.
Exclusive Loyalty Points: PNB offers loyalty points for opening and renewing FDs, which can be redeemed for various banking services or discounts on loans.
FD Portfolio Management: PNB’s platform allows you to manage multiple FDs under one dashboard, giving you a consolidated view of your investments, and helping in better financial planning.
Before investing in PNB Fixed Deposit, consider the following factors to ensure it aligns with your financial goals:
Punjab National Bank’s Fixed Deposits are a reliable and secure investment option offering attractive interest rates and various benefits designed to meet the needs of different customer segments. Whether you are a regular investor, a senior citizen, an NRI, or looking to save on taxes, Punjab National Bank has an FD scheme that suits your requirements.
Research well, plan your financial goals, and invest in FDs that fit your goals.
Interest rates vary based on deposit amount, tenure, and customer type (general or senior citizen).
Yes, PNB typically offers higher interest rates to senior citizens on their fixed deposits.
Yes, premature withdrawal is possible but penalties may apply. Interest earned will be calculated at a lower rate.
Interest can be paid monthly, quarterly, annually, or on maturity based on your preference.
Visit the official PNB website or your nearest PNB branch for the most accurate and up-to-date information.
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