The Punjab National Bank has been catering to the customer's financial need for over 120 years, providing a new deposit product called the PNB Dugna Fixed Deposit Scheme.
The fixed deposit will double your money in 109 months with the interest being compounded quarterly. Here are more details about the scheme.
The following are the eligibility criteria to apply for PNB Dugna fixed deposit scheme:
Note: In case the minor is above 10 years, additional documents as specified by the bank will have to be provided by the guardian.
The following are the key features of PNB Dugna fixed deposit scheme:
Account Type | Joint/Single/Organisation |
Amount | The minimum amount for the recurring deposit can be from Rs. 5000 in multiples of Re. 1 and up to Rs. 1 crore per day per customer |
Rate of Interest | The rate of interest will be 7.75% per annum compounded quarterly |
Period | The tenure can be from a minimum of 99 months |
TDS | The bank will issue a TDS certificate for the tax deducted |
Loan against Punjab National Bank - PNB Dugna Fixed Deposit Scheme | The Punjab National Bank - PNB Dugna Fixed Deposit Scheme offers the facility of a loan or overdraft facility available under this scheme. |
Nomination (if any) | NA |
Auto Renewals | This scheme will remain active until the amount is withdrawn from the bank. |
Period of Deposit | The total periods for which this deposit is available under this scheme is a maximum 109 months |
Tenure | Interest rate for senior citizens | Interest rate for others |
1 year but less than 2 years | 7.75% + 0.50% | 7.75% |
More than 2 years but less than 5 years | 7.75% + 0.50% | 7.75% |
More than 5 years but less than 10 years | 7.75% + 0.50% | 7.75% |
* The interest rates mentioned are at the discretion of the bank and are subject to change
Yes, premature withdrawals are permitted under the PNB Lakhpati Scheme, unless specified otherwise
The interest for this account will be paid at a discounted value monthly, quarterly, or on the date of maturity. You can choose the option under the scheme.
PNB has facilities to allow those who are not qualified or educated to open and operate this account. It isn’t necessary for someone to be literate to open or handle this account.
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