Punjab National Bank Systematic Deposit Plan
The systematic deposit plan from Punjab National Bank allows minors under the age of 10 to open a fixed deposit account with the bank.
This plan has a minimum tenure of 6 months and a maximum tenure of 60 months. This system does not penalise its depositors for late deposits and provides an option for loan/overdraft.
Features of Punjab National Bank Systematic Deposit Plan
The various features of Punjab National Bank Systematic Deposit Plan are given below:
Account type | Single or jointly |
Tenure | Minimum: 6 months Maximum: 5 years |
Deposit amount | Minimum: Rs.100 |
Penalty for late deposit | Not applicable |
Overdraft facility | Available |
Nomination facility | Available |
Punjab National Bank Systematic Deposit Plan Interest Rates for Deposits Below Rs.2 Crore
The interest rates for Punjab National Bank Systematic Deposit Plan are same as the card rate applicable as per the maturity tenure of deposit for deposits below Rs.2 crore are given below:
Tenure | Genral Citizen | Senior Citizen |
180 to 270 Days | 6.25 | 6.75 |
271 Days to 299 Days | 6.50 | 7.00 |
300 Days | 7.05 | 7.55 |
301 Days to less than one Year | 6.50 | 7.00 |
One Year | 6.80 | 7.30 |
More than one Year to 399 days | 6.80 | 7.30 |
400 Days | 7.25 | 7.75 |
401 Days to Two Years | 6.80 | 7.30 |
More than two years to three years | 7.00 | 7.50 |
More than three years to 1203 days | 6.50 | 7.00 |
1204 days | 6.40 | 6.90 |
1205 days to five years | 6.50 | 7.00 |
More than five years to 1894 days | 6.50 | 7.30 |
1895 days | 6.35 | 7.15 |
1896 days to ten years | 6.50 | 7.30 |
Note: The FD interest rates are effective as of 1 October 2024. It can change at the discretion of the bank.
Punjab National Bank Systematic Deposit Plan Interest Rates for Deposits Above Rs.2 Crore and Below Rs.10 Crore
The interest rates for Punjab National Bank Systematic Deposit Plan for deposits above Rs.2 crore and below Rs.10 crore are given below:
Tenure | General citizen | Senior citizen |
180 days to 270 days | 6.30 | 6.80 |
271 days to 299 Days | 6.55 | 7.05 |
300 Days | 7.10 | 7.60 |
301 Days to less than one Year | 6.55 | 7.05 |
One Year | 6.85 | 7.35 |
More than one Year to 399 Days | 6.85 | 7.35 |
400 days | 7.30 | 7.80 |
401 days to two years | 6.85 | 7.35 |
More than two years to three years | 7.05 | 7.55 |
More than three years to 1203 days | 6.55 | 7.05 |
1204 days** | 6.45 | 6.95 |
1205 days to five years | 6.55 | 7.05 |
More than five years to 1894 days | 6.55 | 7.35 |
1895 days | 6.40 | 7.20 |
1896 days to ten years | 6.55 | 7.35 |
Note: The FD interest rates are effective as of 10 October 2024. It can change at the discretion of the bank.
Punjab National Bank Systematic Deposit Plan Eligibility
The eligibility criteria to open an account under the Punjab National Bank Systematic Deposit Plan are given below;
- Indian citizens above the age of 18
- Minors above the age 10 with an age proof
- Minors below the age of 10 along with their parents/guardians
- Clubs, firms, associations, municipal corporations, educational institutions, government bodies, quasi-government bodies, panchayat, co-operative societies, HUFs, corporate, religious institutions, etc.
How to Open an Account Under Punjab National Bank Systematic Deposit Plan
To open an account under Punjab National Bank systematic deposit plan, visit your nearest Punjab National Bank. There a representative of the bank will guide you through the process of opening a fixed deposit account.
FAQs on Punjab National Bank Systematic Deposit Plan
- Will I be charged a fine if I deposit my money later than the specified time for Punjab National Bank Systematic Deposit Plan?
No, you will not be charged any late fee under the Punjab National Bank Systematic Deposit Plan.
- Is nomination facility available under the Punjab National Bank Systematic Deposit Plan?
Yes, nomination facility is available under the Punjab National Bank Systematic Deposit Plan.
- Is overdraft facility available for the Punjab National Bank Systematic Deposit Plan?
Yes, an overdraft facility is available for the Punjab National Bank Systematic Deposit Plan.
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