PNB Lakhpati Deposit Scheme

The Punjab National Bank provides a unique deposit product called the PNB Lakhpati Scheme, in this scheme the products has a special feature of being a recurring deposit account as well as a fixed deposit.

The fixed deposit works on a maturity basis, in which the recurring deposit on maturity becomes a fixed deposit, and will earn interest on the remaining tenure.

Updated On - 05 Sep 2025

Eligibility Criteria for applying for Punjab National Bank - PNB Lakhpati Scheme

Applicant who want to take up the PNB Lakhpati Scheme should meet the below mentioned criteria.

  • The account can either be opened single account or a joint account by individuals.
  • If the applicant is a minor, then the account can be opened in the name of the guardian, the minor should be below the age of 10, if the minor is over the age of 10 then additional proof must be submitted.
  • The accounts can also be opened by organisations such as small firms, charitable institutions, recreational clubs, Hindu Undivided Families, trusts of religious nature, panchayats, etc.
  • A minimum deposit of Rs. 100 should be maintained for the account to remain active.

Features of Punjab National Bank - PNB Lakhpati Scheme

Account Type

Joint/Single/Organisation

Amount

The minimum amount for the recurring deposit can be from Rs. 1000, Rs. 1200, Rs. 1500, and Rs. 2100.

Rate of Interest

The rate of interest will be 9% per annum

Period

The tenure can be from a minimum of 57 months to 120 months

TDS

The bank will issue a TDS certificate for the tax deducted

Loan against Punjab National Bank - PNB Lakhpati Scheme

The Punjab National Bank - PNB Lakhpati 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This scheme will remain active until the amount is withdrawn from the bank.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 of 120 months. You can choose the recurring deposit to be a period of 24, 36, 48, or 60 months.

Punjab National Bank - PNB Lakhpati Scheme interest rates

Amount

Tenure in Months

Rate of Interest

Rs. 1070

72

9.00%

Rs. 880

84

9.00%

Rs. 730

96

9.00%

Rs. 620

108

9.00%

Rs. 530

120

9.00%

* The interest rates mentioned are at the discretion of the Bank and are subject to change

FAQs on PNB Lakhpati Deposit Scheme

  • Are premature withdrawals permitted under this scheme?

    Yes, premature withdrawals are permitted under the PNB Lakhpati Scheme, unless specified otherwise

  • What are the documents one should submit to open an account under this scheme?
    1. The bank will require to be introduction of the person’s opening the account by another person acceptable by the bank.
    1. 2 passport sized photographs of the applicants.
    1. The bank will require a PAN copy
    1. Also the bank will require completion of KYC norms and submission of complete information as required.
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