What is PNB NRO Sugam Term Deposit Scheme

The PNB NRO Sugam Term Deposit scheme by Punjab National Bank is made for Non-resident Indians (NRIs) and people of Indian origin. NRI customers of Punjab National Bank can open an account under this scheme with a minimum deposit amount of Rs.10,000.

Updated On - 05 Sep 2025

The maximum deposit for this scheme is Rs.10 crore. The duration for the PNB NRO Sugam Term Deposit scheme ranges from 46 days to 10 years.

Also. Check - Fixed Deposit

Features of PNB NRO Sugam Term Deposit Scheme

Features of PNB NRO Sugam Term Deposit Scheme are mentioned below:

Account type

Single or Joint Account

Deposit Amount

Minimum: Rs.10,000

Maximum: Rs.10 crore

Tenure

Minimum: 46 days

Maximum: 10 years

Interest Rates

3.50% p.a. to 7.25% p.a.

Premature Withdrawal

Available

Nomination

Available

Demand Loan Against Term Deposit

Available

*Note: Interest rates applicable since 1 February 2024 .

Eligibility Criteria for PNB NRO Sugam Term Deposit Scheme

To open an account under the PNB NRO Sugam Term Deposit Scheme, you should be:

  1. A Non-resident Indian (NRI)
  2. Person of Indian Origin (PIO)

How to Open a PNB NRO Sugam Term Deposit Scheme Account

To open a PNB NRO Sugam Term Deposit Scheme account, you have to visit your nearest branch of the Punjab National Bank.

There a representative of the bank will take you through the process and help you open the term deposit account.

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

The latest interest rates for PNB NRO Sugam Term Deposit Schemes for deposits below Rs.2 crore are mentioned below:

Tenure  

Regular FD Rates (p.a.)  

7 days to 14 days  

3.50% 

15 days to 29 days  

3.50% 

30 days to 45 days  

3.50% 

46 days to 90 days  

4.50%  

91 days to 179 days  

4.50%  

180 days to 270 days  

6.00% 

271 days to 299 days  

6.25% 

300 days 

7.05% 

301 days to less than 1 year 

6.25% 

1 year  

6.75% 

above 1 year to 399 days 

6.80%  

400 days 

7.25% 

401 days to 2 years

6.80% 

Above 2 years and up to 3 years  

7.00% 

Above 3 years and up to 5 years  

6.50%  

Above 5 years and up to 10 years  

6.50% 

Note: The FD interest rates are effective as of 1 February 2024. It can change at the discretion of the bank.  

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

The latest interest rates for PNB NRO Sugam Term Deposit Schemes for deposits above Rs.2 Crore to Rs.10 Crore are mentioned below.

Tenure  

Regular FD Rates (p.a.)  

7 days to 14 days  

6.00%  

15 days to 29 days  

6.00%  

30 days to 45 days  

6.00%  

46 days to 60 days  

6.40%  

61 days to 90 days 

6.60% 

91 days to 179 days  

6.50%  

180 days to 270 days  

6.65% 

271 days to 299 days

6.75% 

300 days  

6.75% 

300 days to less than 1 year 

6.75% 

1 year  

7.00% 

Above 1 year and up to 399 days  

6.50% 

400 days 

6.50% 

401 days to 2 years  

6.50% 

Above 2 years and up to 3 years  

6.50% 

Above 3 years and up to 5 years  

6.25%  

Above 5 years and up to 10 years  

5.60%  

Note: The FD interest rates are effective as of 1 February 2024. It can change at the discretion of the bank.  

FAQs on PNB NRO Sugam Term Deposit Scheme

  • Can I open a PNB NRO Sugam Term Deposit Scheme account jointly with an Indian citizen?

    Yes, you can open a PNB NRO Sugam Term Deposit Scheme account jointly with an Indian citizen. The account can be opened jointly with Indian residents under the 'former or survivor' basis only.

  • Can a PNB NRO Sugam Term Deposit Scheme account under the name of Overseas Corporate Bodies (OCB)?

    No, a PNB NRO Sugam Term Deposit Scheme account cannot be opened in the name of Overseas Corporate Bodies (OCB).

  • Is income earned under the PNB NRO Sugam Term Deposit Scheme taxable under Income Tax rules and regulations?

    Currently, any income earned from interest on deposits held in the name of the person under the PNB NRO Sugam Term Deposit Scheme is subject to tax deductions under the guidelines set forth by the Central Board of Direct Taxes.

  • Are there any special benefits for senior citizens and staff members of the bank (existing or retired) under the PNB NRO Sugam Term Deposit Scheme?

    No, there are no additional interest benefits for senior citizens and staff members of the bank (existing or retired) under the PNB NRO Sugam Term Deposit Scheme.

  • Is the nomination facility available for the PNB NRO Sugam Term Deposit Scheme?

    Yes, the nomination facility is available for the PNB NRO Sugam Term Deposit Scheme. Accounts can be nominated in the name of a Resident or Non-Resident.

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