• 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

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    This scheme will remain active until the amount is withdrawn from the bank.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

    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

    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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    PNB Lakhpati Deposit Scheme Reviews

    • Punjab National Bank Fixed Deposit
      "Secured Fixed deposit"
      0.5 4.5/5 "Excellent!"
      I invested Rs. 50,000 in PNB fixed deposit it has the duration of one year then again the fixed deposit renew automatically, I am getting sms alert during the transactions. But I felt the rate of interest is lower as compared to HDFC , it would be great if they increase the interest for saving and fixed deposit.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jun 29, 2019
    • Punjab National Bank
      Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Iam having fixed deposit with Punjab national bank ,interest is good .The banking service is good so far .I have not faced any issues so far .Money will be safe on this account .Whenever need money can take and can deposit as well .The banking service is good and satisfied so far .Will get frequent update as well.
      Was this review helpful? 2
      , faridabad
      Reviewed on Apr 30, 2019
    • Punjab National Bank Fixed Deposit
      "Easy online access"
      0.5 3.5/5 "Pretty good"
      I have opened Fixed deposit account through online in PNB, depend upon the customer I can chose the tenure period. The interest rate is okay for the fixed deposit and they don't have any charges for the pre matured withdrawal. I can track my deposits through online.
      Was this review helpful? 8
      , mumbai
      Reviewed on Jan 25, 2019
    • Punjab National Bank Fixed Deposit
      "Good Investment Plan"
      0.5 5.0/5 "Blown Away!"
      I have taken fixed deposit account in Punjab National Bank . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and resonance.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 06, 2018
    • Punjab National Bank Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the fixed deposit account with the Punjab National bank and the services are good one. I would like to say that the rate of interest is okay one for me with the Punjab National bank. I am really happy with them till now.
      Was this review helpful? 3
      , jaipur
      Reviewed on Feb 27, 2018
    • Punjab National Bank Fixed Deposit
      "Fixed deposit with PNB"
      0.5 5.0/5 "Blown Away!"
      I hold a fixed deposit with PUNJAB NATIONAL BANK. The rate of interest is 4.5% for one year. Even if i withdraw with in the Fixed Deposit period they do not apply any charges. The customer service and response with the fixed deposit account is great.
      Was this review helpful? 4
      , noida
      Reviewed on Jan 11, 2018
    • Punjab National Bank Fixed Deposit
      "Average Investment"
      0.5 3.0/5 "Satisfactory"
      I put a decent amount of my Money into Fixed Deposit and PNB looked to be a perfect fit for that. I got Interest return of 7%, which I feel is quite good compared to the Market standards. The best thing about this Investment is that I can take the whole amount out of the FD any time I want even before maturity.
      Was this review helpful? 10
      , new delhi
      Reviewed on Dec 21, 2017
    • Punjab National Bank Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the fixed deposit account with the Punjab National bank and the interest rate is around 8%. Customer service is okay for me and I have not faced any issues with them. Online banking services are not having issues with them.
      Was this review helpful? 3
      , bangalore
      Reviewed on Oct 28, 2017
    • Punjab National Bank Fixed Deposit
      "PNB is my bank"
      0.5 5.0/5 "Blown Away!"
      PNB is my bank as I worked as a Senior Manager there so I know how the bank works. , Interest rate offered by them was the 1.5% extra than the normal interest rate for FD because I am staff of that bank I get 6.60% for 5years. For senior citizen they give 6.25% plus some additional interest too.
      Was this review helpful? 6
      , jalandhar
      Reviewed on Sep 05, 2017
    • Punjab National Bank Fixed Deposit
      "Scheme is good"
      0.5 5.0/5 "Blown Away!"
      PNB Fixed deposit scheme is very good, yes it is a good bank. I am using this bank account for about 15 years . My parents are holding an account there which prompted me to open this account with this bank, it is a reputed bank too so I had taken FD from this bank. Interest rate 9%for FD and I do get tax benefit from this FD
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 11, 2017
    • Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
      Was this review helpful? 5
      , indore
      Reviewed on May 04, 2017
    • Punjab National Bank Fixed Deposit
      "Customer service should be good and unique for everyone"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
      Was this review helpful? 5
      , ghaziabad
      Reviewed on Apr 26, 2017
    • Punjab National Bank Fixed Deposit
      "Easy & fast process"
      0.5 5.0/5 "Blown Away!"
      I have taken a fixed deposit with Punjab National bank. It was a easy process to open this account. Though I have an option on the portal. I preferred visiting the bank in person and the process was completed pretty fast. The rate of interest is satisfactory too.
      Was this review helpful? 7
      , ambala
      Reviewed on Aug 08, 2016
    • Punjab National Bank Fixed Deposit
      "Average Experience"
      0.5 3.0/5 "Satisfactory"
      I hold a fixed deposit with PNB Bank. The services are average from them. When ever I contact them with a query, I do not get a very satisfactory answer. The rate of interest is normal. There are no charges taken for this facility. It would be better if there is an improvement in services.
      Was this review helpful? 6
      , jammu
      Reviewed on Jul 05, 2016
    • Punjab National Bank Fixed Deposit
      "Excellent !!!!"
      0.5 5.0/5 "Blown Away!"
      PNB is giving 7.5% interest rate for one year fixed deposit . There is no activation charges. The minimum amount is Rs.1000. We can avail the plan through online which will be activated on the spot. If we withdraw the many in between there are no charges
      Was this review helpful? 16
      , faridabad
      Reviewed on Mar 18, 2016
    • Punjab National Bank Fixed Deposit
      "Never to trust"
      0.5 1.0/5 "Really Bad"
      When i opened the fixed deposit account the amount was taken from the saving so they told that there is no need of any receipt and another account number.But after seven months when i applied to break the deposit they were asking for th receipt and account number by which i am not able to break it. In the initial stage they told that for 10,000 will get 18,000 after a year but later they informed will get Rs.10,850. They are not transparent to the customer.
      Was this review helpful? 11
      , ghaziabad
      Reviewed on Jan 13, 2016
    • Punjab National Bank Fixed Deposit
      "Happy with them..."
      0.5 5.0/5 "Blown Away!"
      My fixed account is with Punjab national bank. Interest part was good. I am getting lots of offers from them. They offered me a debit card. They will provide install loan without any documents. We can use it as multiple purpose. Their fixed account is flexible for every one.
      Was this review helpful? 12
      , chennai
      Reviewed on Nov 14, 2015
    • Punjab National Bank Fixed Deposit
      "lONG TERM CUSTOMER"
      0.5 3.0/5 "Satisfactory"
      I opened an Fixed Deposit account with PNB because it is reliable to the customers. There is no need to open an savings account with them for doing any kind of investments. But if its any private bank we have to open an account as well as need to maintain some minimum balance. 9% is the rate of interest they are offering to me.
      Was this review helpful? 14
      , gurgaon
      Reviewed on Oct 10, 2015
    • Punjab National Bank Fixed Deposit
      "GOOD PROFIT "
      0.5 4.0/5 "Great!"
      I opened an Fixed deposit account with PNB. Since it is an government sector I opened this account with them. They are very matured in banking services. It is very safe with PNB to hold an FD account, one of my friend has suggested me about this bank. They have offered me 9% interest rate which is good.
      Was this review helpful? 12
      , guwahati
      Reviewed on Sep 16, 2015
    • Punjab National Bank Fixed Deposit
      "Good.."
      0.5 4.0/5 "Great!"
      I am banking with only one bank that is Punjab National Bank so basis that I got this fixed deposit and rate is 7.5 to 9%. For senior citizens the interest might be 9%. I have not done the pre maturity so have no idea about the same. My banking relationship with this bank is very good and they are acting fast on my queries.
      Was this review helpful? 12
      , chennai
      Reviewed on Aug 06, 2015
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