• PNB NRE Rupee Sugam Term Deposit Scheme

    The PNB NRE Rupee Sugam Term Deposit Scheme offered by the Punjab National Bank is geared towards Non-resident Indians (NRIs). NRI customers of the bank can open a single or joint fixed deposit account under this scheme. The minimum deposit for this scheme starts from Rs.1,000 and the duration of the scheme ranges from 1 year to 10 years.

    Features of PNB NRE Rupee Sugam Term Deposit Scheme

    Account Type Single or Joint Account
    Deposit Amount

    Minimum: Rs.10,000

    Maximum: No limit

    Tenure

    Minimum: 1 year

    Maximum: 10 years

    Interest Rates 5.00% p.a. to 5.25% p.a.
    Deposit Renewal Available
    Nomination Available

    *Interest rates effective from 1 August 2021

    Eligibility to Open a PNB NRE Rupee Sugam Term Deposit Scheme Account

    To be eligible to open a PNB NRE Rupee Sugam Term Deposit Scheme Account, you should be:

    • A Non-resident Indian

    How to Open a PNB NRE Rupee Sugam Term Deposit Scheme Account

    To open a PNB NRE Rupee Sugam Term Deposit Scheme account, you can visit your nearest branch of Punjab National Bank. An executive of the bank will help you and take you through the process of opening a term deposit account.

    PNB NRE Rupee Sugam Term Deposit Scheme Interest Rates for Deposits below Rs.2 Crore

    The latest interest rates for PNB NRE Rupee Sugam Term Deposit Schemes for deposits below Rs.2 crore are given below:

    Tenure Interest Rates (p.a.)
    1 year to up to 2 years 5.00%
    2 years to up to 3 years 5.10%
    3 years to up to 10 years 5.25%

    Note: These interest rates are effective since 1 August 2021 and can be changed as per the Bank’s rules.

    PNB NRE Rupee Sugam Term Deposit Scheme Interest Rates for Deposits above Rs.2 Crore to Rs.10 Crore

    The latest interest rates for PNB NRE Rupee Sugam Term Deposit Schemes for deposits above Rs.2 crore to Rs.10 crore are given below:

    Tenure Interest Rates (p.a.)
    1 year to 10 years 3.50%

    Note: These interest rates are effective since 1 August 2021 and can be changed as per the Bank’s rules.

    FAQs on PNB NRE Rupee Sugam Term Deposit Scheme

    1. In what currency will the PNB NRE Rupee Sugam Term Deposit Scheme is maintained?

      The PNB NRE Rupee Sugam Term Deposit scheme is maintained in rupees.

    2. Can I open the PNB NRE Rupee Sugam Term Deposit scheme along with Indian citizens?

      No, you cannot open a PNB NRE Rupee Sugam Term Deposit scheme with an Indian citizen. This term deposit can only be opened in the names of two or more non-resident individuals, as long as all account holders are Indian nationals or of Indian ancestry. 

    3. Will the interest income from the PNB NRE Rupee Sugam Term Deposit scheme be taxable under Income Tax?

      No, income tax rules exempt interest income from accounts under the PNB NRE Rupee Sugam Term Deposit scheme.

    4. How is the interest calculated for the PNB NRE Rupee Sugam Term Deposit scheme? 

      The deposits will be calculated every quarter for accounts under the PNB NRE Rupee Sugam Term Deposit scheme, which are subject to change according to RBI’s guidelines.

    5. Can I prematurely withdraw my deposits from PNB NRE Rupee Sugam Term Deposit scheme?

      Yes, if you can prematurely withdraw your deposits under the PNB NRE Rupee Sugam Term Deposit scheme.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.