Fixed deposits are great investment options for the ones with a traditional point of view of saving, but then there’s a constraint of not having liquidity options when financial needs suddenly crop up. Punjab National Bank (PNB) offers its customers an option to open a fixed deposit account that allows them to benefit from preferential interest rates and also allows premature cancellation of the deposit at any given point of time. This specific scheme is known as PNB Anupam Term Deposit.
Both individuals and non-individuals can apply. Hindu Undivided Families allowed. Accounts can be jointly held
Deposit Amount
Minimum starting deposit is INR 10000
Minimum subsequent deposit is in multiples of INR 1000
Maximum deposit will be Rs.1,99,99,000
Rate of Interest
Between 3.25% p.a. to 5.40% p.a. for the general public
Between 4.00% p.a. to 6.25% p.a. for senior citizens
Period
Minimum duration – 6 months
Maximum duration – 10 years
TDS
TDS Certificate will be issued by the Bank
Lock-in Period
N/A
Tax Rebate Applicability
N/A
Loan against PNB Anupam Term Deposit Scheme
N/A (subject to change based on bank’s discretion)
Nomination
Nomination facility is available
Auto Renewals
The scheme is valid only for the period selected at initiation. Renewal for another year happens only if the deposit is continued
PNB Anupam Term Deposit Scheme Interest Rates
The interest rates offered on PNB Anupam Term Deposits are linked to the base rate of the bank. As of 1 June 2020, the rates could be anywhere from 3.25% per annum to 5.40% per annum for the general populace. Senior citizens might get an additional rate over and above the advertised rates.
Interest on the deposit made is payable at a discounted monthly value or quarterly. It could also be compounded quarterly (reinvested) or on the date of maturity, based upon the choice of the depositor during the initiation of the scheme. In case a deposit is overdue, interest might be payable but will be based on the discretion of the bank.
All the above mentioned rates are dependent on the bank’s discretion and are liable to change anytime.
PNB Anupam Term Deposit Scheme FAQs
How to apply for an Anupam Term Deposit in Punjab National Bank (PNB)?
One can apply for an Anupam Term Deposit with PNB through any of its official branches by furnishing the required documents and the minimum deposit amount.
What are the documents required for opening an Anupam Term Deposit?
One would require an introduction to the bank or should be an existing customer. Apart from that, two recent passport size photographs of the person(s) opening the account will be required. Government attested ID proof and declaration through Form 60 or 61 or PAN (Permanent Account Number) or GIR (General Index Register) needs to be provided.
What is the interest rate applicable for an Anupam Term Deposit account?
The interest rate could range from 3.25% per annum to 6.25% per annum. That would include any additional interest provided for senior citizens too.
What is the maturity period of an Anupam Term Deposit?
The minimum maturity period of an Anupam Term Deposit will be 6 months and the maximum would be 10 years.
What is the lock-in period for an Anupam Term Deposit account?
There are no applicable lock-in periods for this deposit and it can be prematurely cancelled at any time to obtain the principal and accrued interest.
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I went to the nearby branch for the Punjab National Bank for taking my fixed deposit as per my family members recommendation. I have invested the money of Rs. 50000 there was a lockin duration of 6 years when i withdraw the money, i got the money of Rs.1 lakhs. They have offered me a interest rate of 7%.
I invested Rs. 50,000 in PNB fixed deposit it has the duration of one year then again the fixed deposit renew automatically, I am getting sms alert during the transactions. But I felt the rate of interest is lower as compared to HDFC , it would be great if they increase the interest for saving and fixed deposit.
Iam having fixed deposit with Punjab national bank ,interest is good .The banking service is good so far .I have not faced any issues so far .Money will be safe on this account .Whenever need money can take and can deposit as well .The banking service is good and satisfied so far .Will get frequent update as well.
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4
RAM BHAJAN ROY
, faridabad
Reviewed on Apr 30, 2019
I have opened Fixed deposit account through online in PNB, depend upon the customer I can chose the tenure period. The interest rate is okay for the fixed deposit and they don't have any charges for the pre matured withdrawal. I can track my deposits through online.
I have taken fixed deposit account in Punjab National Bank . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and resonance.They are giving good rate of interest . Overall am happy with my account .
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4
ABHISHEK SINGH
, new delhi
Reviewed on Dec 06, 2018
I am having the fixed deposit account with the Punjab National bank and the services are good one. I would like to say that the rate of interest is okay one for me with the Punjab National bank. I am really happy with them till now.
I hold a fixed deposit with PUNJAB NATIONAL BANK. The rate of interest is 4.5% for one year. Even if i withdraw with in the Fixed Deposit period they do not apply any charges. The customer service and response with the fixed deposit account is great.
I put a decent amount of my Money into Fixed Deposit and PNB looked to be a perfect fit for that. I got Interest return of 7%, which I feel is quite good compared to the Market standards. The best thing about this Investment is that I can take the whole amount out of the FD any time I want even before maturity.
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12
RAMPRATAP SINGH
, new delhi
Reviewed on Dec 21, 2017
I am having the fixed deposit account with the Punjab National bank and the interest rate is around 8%. Customer service is okay for me and I have not faced any issues with them. Online banking services are not having issues with them.
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3
CHANDRASHEKARA CHARI
, bangalore
Reviewed on Oct 28, 2017
PNB is my bank as I worked as a Senior Manager there so I know how the bank works. , Interest rate offered by them was the 1.5% extra than the normal interest rate for FD because I am staff of that bank I get 6.60% for 5years. For senior citizen they give 6.25% plus some additional interest too.
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7
PREM SAGAR DHINGRA
, jalandhar
Reviewed on Sep 05, 2017
PNB Fixed deposit scheme is very good, yes it is a good bank. I am using this bank account for about 15 years . My parents are holding an account there which prompted me to open this account with this bank, it is a reputed bank too so I had taken FD from this bank. Interest rate 9%for FD and I do get tax benefit from this FD
I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
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5
MANISH SHRIVASTAVA
, indore
Reviewed on May 04, 2017
I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
I have taken a fixed deposit with Punjab National bank. It was a easy process to open this account. Though I have an option on the portal. I preferred visiting the bank in person and the process was completed pretty fast. The rate of interest is satisfactory too.
I hold a fixed deposit with PNB Bank. The services are average from them. When ever I contact them with a query, I do not get a very satisfactory answer. The rate of interest is normal. There are no charges taken for this facility. It would be better if there is an improvement in services.
PNB is giving 7.5% interest rate for one year fixed deposit . There is no activation charges. The minimum amount is Rs.1000. We can avail the plan through online which will be activated on the spot. If we withdraw the many in between there are no charges
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17
SUBHASH JAGAN THAKUR
, faridabad
Reviewed on Mar 18, 2016
When i opened the fixed deposit account the amount was taken from the saving so they told that there is no need of any receipt and another account number.But after seven months when i applied to break the deposit they were asking for th receipt and account number by which i am not able to break it. In the initial stage they told that for 10,000 will get 18,000 after a year but later they informed will get Rs.10,850. They are not transparent to the customer.
My fixed account is with Punjab national bank. Interest part was good. I am getting lots of offers from them. They offered me a debit card. They will provide install loan without any documents. We can use it as multiple purpose. Their fixed account is flexible for every one.
I opened an Fixed Deposit account with PNB because it is reliable to the customers. There is no need to open an savings account with them for doing any kind of investments. But if its any private bank we have to open an account as well as need to maintain some minimum balance. 9% is the rate of interest they are offering to me.
I opened an Fixed deposit account with PNB. Since it is an government sector I opened this account with them. They are very matured in banking services. It is very safe with PNB to hold an FD account, one of my friend has suggested me about this bank. They have offered me 9% interest rate which is good.
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14
MADAN CHOUDHARY
, guwahati
Reviewed on Sep 16, 2015
