The Punjab National Bank offers the Pranam fixed deposit scheme for individuals over the age of 55. The minimum deposit for this scheme is Rs.100. The minimum period of deposit for the scheme is 1 year while the maximum tenure is 10 years.
The various features of PNB Pranam Fixed Deposit Scheme are mentioned below:
|Account type||Single or jointly with others|
Minimum: 1 year
Maximum: 10 years
|Rate of Interest||5.00% to 5.25%|
The primary eligibility criteria to open an account under the PNB pranam fixed deposit scheme are given below:
The interest rates of PNB pranam fixed deposit schemes for deposits below Rs.2 crore are given below:
|Tenure||Interest Rates (p.a.)|
|Above 1 year to up to 2 years||5.00%|
|Above 2 years to up to 3 years||5.10%|
|Above 3 years to up to 5 years||5.25%|
|Above 5 years to up to 10 years||5.25%|
Note: The interest rates mentioned above are effective since 1 October 2021 and can be changed as per the bank’s rules and regulations.
You can visit the nearby branch of Punjab national Bank, if you want to apply for the PNB Pranam fixed deposit account. There you will be guided through the process of opening an account by a bank’s representative.
The minimum amount required to open a PNB pranam fixed deposit scheme is Rs.100.
Yes, overdraft facility is available for the PNB pranam fixed deposit scheme.
No, an individual above the age of 60 is not eligible to open an account under the PNB pranam fixed deposit scheme.
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