The Punjab National Bank offers its customers the PNB Floating Rate Fixed Deposit Scheme, where you can open a fd account with a minimum of Rs.1,000.
The duration for this scheme ranges from 7 days to 10 years. The interest in this scheme starts at 3.50% p.a.
The features of the PNB Floating Rate Fixed Deposit Scheme are mentioned below:
Account Type | Single or Joint (With others) |
Deposit Amount | Minimum: Rs.1,000 Maximum: No limit* |
Duration | Minimum: 7 days Maximum: 10 years |
Note: However, acceptance of FDs that exceeds Rs.10 crore is subject to Treasury Division, HO approval.
Requirements to open a PNB Floating Rate Fixed Deposit account are:
To open a fixed deposit account under the PNB Floating Rate Fixed Deposit scheme, please visit your nearest branch of Punjab National Bank.
A representative will take you through the process and will help you open a fixed deposit account.
The latest interest rates for PNB Floating Rate Fixed Deposit Schemes are given below:
Tenure | Rates for Public | Rates for Senior Citizens |
7 to 14 Days | 3.50% | 4.00% |
15 to 29 Days | 3.50% | 4.00% |
30 to 45 Days | 3.50% | 4.00% |
46 to 60 Days | 4.50% | 5.00% |
61 to 90 Days | 4.50% | 5.00% |
91 to 179 Days | 4.50% | 5.00% |
180 to 270 Days | 6.25% | 6.75% |
271 Days to 299 Days | 6.50% | 7.00% |
300 Days | 7.05% | 7.55% |
301 Days to less than one Year | 6.50% | 7.00% |
One Year | 6.80% | 7.30% |
Greater than one Year to 399 days | 6.80% | 7.30% |
400 Days | 7.25% | 7.75% |
401 Days to two Years | 6.80% | 7.30% |
Greater than two years to three years | 7.00% | 7.50% |
Greater than three years to 1203 days | 6.50% | 7.00% |
1204 days | 6.40% | 6.90% |
1205 days to five years | 6.50% | 7.00% |
Greater than five years to 1894 days | 6.50% | 7.30% |
1895 days | 6.35% | 7.15% |
1896 days to 10 years | 6.50% | 7.30% |
Note: The FD interest rates are effective as of 1 August 2024. It can change at the discretion of the bank.
As the rate of interest payable on FDs made under the scheme may fluctuate throughout the currency of the FD, the rate of interest payable till maturity and the maturity value cannot be estimated in advance.
Yes, the bank allows the depositors to take out a demand loan/overdraft against the FDs they have made under the PNB Floating Rate Fixed Deposit scheme. However, to take out an overdraft, the FD must be for at least Rs.10,000.
Yes, if you wish to withdraw a deposit made under the PNB Floating Rate Fixed Deposit scheme before it matures, the Bank may, at its discretion, return the deposit with interest earned up to that point.
Yes, the PNB Floating Rate Fixed Deposit Scheme provides an additional interest rate of 0.50% to senior citizens.
Yes, a minor above the age of 10 can open a fixed deposit account under the PNB Floating Rate Fixed Deposit scheme, if they provide proof of their age. However, minors under the age of 10 are not eligible to open a fixed deposit account under this scheme.
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.