Punjab National Bank offers a variety of fixed deposit schemes to its customers. One of them is the Balika Shiskha Fixed Deposit (FD) Scheme. The rate of interest offered on this FD scheme is similar to other deposit schemes and ranges between 3% to 5.30% p.a.
| Deposit Tenure | Interest Rate (p.a.) |
|---|---|
| 7 days to 45 days | 3.00 |
| 46 days to 90 days | 3.25 |
| 91 days to 179 days | 4.00 |
| 180 days to 270 days | 4.40 |
| 271 days to less than 1 year | 4.50 |
| 1 year to 3 years | 5.20 |
| More than 3 years | 5.30 |
The Balika Shiksha Fixed Deposit Scheme can be opened by girls who pass the Class 8 exam from Kasturba Gandhi Balika Vidyalayas. Those who enroll for Class 9 in schools run by state or Union territory government, government aided schools or local body schools from the session of 2008-09 are also eligible. The age of the girls should be below 16 years as on 31st March while enrolling for Class 9.
As per the government, a deposit of Rs.3,000 is allowed in the name of the eligible applicant.
Some of the features of the term deposit scheme are listed below:
In order to withdraw the matured amount, the girl must fulfill the pre-condition of passing the Class 10 exam successfully. The girl must submit proof of:
No, premature withdrawal is not allowed under the PNB Balika Shiksha FD scheme.
Availing a loan against the fixed deposits is not allowed.
No, the amount will not be provided to the family members if the girl dies before attaining the age of 18 years. In such cases, the amount will be transferred to the central government accounts.
No, the scheme cannot be availed by girls enrolled in central and private schools.
Yes, the scheme can be availed by girls belonging to reserved categories.
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