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    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 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.

    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.

    1. The account can either be opened single account or a joint account by individuals.
    2. 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.
    3. 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.
    4. 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



    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


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


    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)


    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    This scheme will remain active until the amount is withdrawn from the bank.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 as per December 2015


    Tenure in Months

    Rate of Interest

    Rs. 1070



    Rs. 880



    Rs. 730



    Rs. 620



    Rs. 530



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


    Q. Are premature withdrawals permitted under this scheme?

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

    Q. What are the documents one should submit to open an account under this scheme?

    A. The documents required for this scheme:

    • The bank will require to be introduction of the person’s opening the account by another person acceptable by the bank.
    • 2 passport sized photographs of the applicants.
    • The bank will require a PAN copy
    • Also the bank will require completion of KYC norms and submission of complete information as required.

    Useful Information on PNB Fixed Deposit

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