PNB Saksham Deposit schemes is a very reliable fixed deposit product that takes care of the recurring financial needs of the individual depositing over and above the particular interest income earned on term deposit through regular monthly payout that consists of interest along with the partial amount of the principal.
Eligibility Criteria for applying for PNB Saksham Scheme
Account Type: Type of individual (singly or jointly), Association, Club, Society, Trust or Religious/ Charitable and Educational Institutions, etc.
Others: Illiterate or visually handicapped can also have this fixed deposit account
Type of Payment: Regular monthly payout consisting of interest plus part of principal.
Features of PNB Saksham Scheme
Account Type
Single and Joint for Association, Club, Society, Trust or Religious/ Charitable and Educational Institutions, etc. available
Amount
Minimum Amount: Rs.25000/-
Maximum Amount: Thereafter in multiple of Re.1/- subject to maximum of Rs. 10 Crore
Rate of Interest
As per card rate of the term deposit of various tenors, given below in the Interest Rate section.
0.50% additional interest to Senior Citizens over and above the normal interest applicable.
Period (Multiple of 3 months)
Minimum: 12 months
Maximum: 120 months
TDS
None mentioned
Loan against ----Bank---- Scheme
N.A.
Nomination (if any)
N.A.
Auto Renewals
N.A.
PNB Saksham Scheme Interest Rates
Rate of Interest on Single Domestic Term Deposits (TD) and NRE Term Deposits of upto Rs.10 cr (w.e.f. 26.11.2015) as on December 1, 2015. Rates are subject to change on the bank’s discretion.
Domestic TD Less than Rs.1 cr.
Domestic TD Rs.1 cr. To Rs 10 cr #
NRE TD Less than Rs. 1 cr
NRE TD Rs. 1 cr. To Rs. 10 cr.
PNB Tax Saver FD
Sl. No
Period
ROI (% p.a.)
A.Y.*
For Senior Citizen ROI (% p.a.)
ROI (% p.a.)
A.Y.*
ROI (% p.a.)
ROI (% p.a.)
ROI (% p.a.)
1
7 to 14 days
4.25
4.25
4.75
4.00
4.00
NA
NA
NA
2
15 to 29days
4.25
4.25
4.75
4.00
4.00
NA
NA
NA
3
30 to 45 days
4.75
4.75
5.25
4.00
4.00
NA
NA
NA
4
46 to 90 Days
6.25
6.25
6.75
5.00
5.00
NA
NA
NA
5
91 to 179 days
6.50
6.50
7.00
5.75
5.75
NA
NA
NA
6
180 days to 270 Days
7.00
7.06
7.50
6.50
6.55
NA
NA
NA
7
271 days to less than 1 year
7.00
7.12
7.50
6.50
6.61
NA
NA
NA
8
1 year & upto 2 years
7.50
7.71
8.00
7.00
7.19
7.50
7.00
NA
9
above 2 year & upto 5 years
7.25
7.73
7.75
6.75
7.16
7.25
6.75
7.25
10
above 5 years & upto 10 years
7.25
8.65
7.75
6.75
7.95
7.25
6.75
PNB Saksham Scheme FAQs
Is the PNB Saksham Scheme usable for handicapped people?
Yes, visually challenged people can apply for this loan.
What is the minimum time period for a term deposit?
12 months is the minimum time period for a term deposit.
What is the maximum time period for a term deposit?
120 months is the maximum time period for a term deposit.
What is the minimum amount that may be deposited?
The minimum amount that can be deposited is Rs. 25,000
What is the maximum amount that may be deposited?
Rs. 1 crore is the maximum amount that may be deposited.
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I went to the nearby branch for the Punjab National Bank for taking my fixed deposit as per my family members recommendation. I have invested the money of Rs. 50000 there was a lockin duration of 6 years when i withdraw the money, i got the money of Rs.1 lakhs. They have offered me a interest rate of 7%.
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.
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.
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5
RAM BHAJAN ROY
, faridabad
Reviewed on Apr 30, 2019
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.
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 .
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4
ABHISHEK SINGH
, new delhi
Reviewed on Dec 06, 2018
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.
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.
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.
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12
RAMPRATAP SINGH
, new delhi
Reviewed on Dec 21, 2017
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.
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3
CHANDRASHEKARA CHARI
, bangalore
Reviewed on Oct 28, 2017
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.
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7
PREM SAGAR DHINGRA
, jalandhar
Reviewed on Sep 05, 2017
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
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.
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5
MANISH SHRIVASTAVA
, indore
Reviewed on May 04, 2017
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.
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.
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.
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
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17
SUBHASH JAGAN THAKUR
, faridabad
Reviewed on Mar 18, 2016
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.
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.
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.
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.
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15
MADAN CHOUDHARY
, guwahati
Reviewed on Sep 16, 2015
