• PNB Varshik Aay Yojana (VAY) Deposit Scheme

    The Punjab National Bank offers its customers the Varshik Aay Yojana (VAY) deposit scheme where the depositor can open an account with a minimum deposit amount of Rs.10,000. The minimum duration for this deposit scheme is 24 months.

    PNB Varshik Aay Yojana Deposit Scheme Features

    The various features of the PNB Varshik Aay Yojana deposit schemes are mentioned below:

    Account Type Single or jointly with others
    Deposit Amount

    Minimum amount: Rs.10,000

    Maximum amount: Rs.1,99,99,000

    Tenure 24 months to 10 years
    Rate of Interest Interest rate as per HO: IRMD issued guidelines
    Overdraft Facility Available

    Eligibility Criteria for PNB Varshik Aay Yojana Deposit Scheme

    The basic eligibility criteria to open a PNB Varshik Aay Yojana deposit scheme are mentioned below:

    • Individuals over the age of 18
    • Minors above the age of 10 can open an account after submitting a proof of age
    • Hindu Undivided Family
    • Commercial organization, company, partnership firm
    • Panchayat, municipality, quasi-government, and government body
    • Illiterate person
    • Visually-impaired person
    • Club, society, educational institutions, and associations

    How to Apply for PNB Varshik Aay Yojana Deposit Scheme

    If you want to apply for a PNB Varshik Aay Yojana deposit scheme, you can visit your nearby branch of Punjab National Bank. A bank’s representative will guide you through the process of opening a deposit account.

    FAQs on PNB Varshik Aay Yojana (VAY) Deposit Scheme

    1. Is overdraft facility available for the PNB Varshik Aay Yojana deposit scheme?

      Yes, overdraft facility is available for the PNB Varshik Aay Yojana deposit scheme.

    2. Can a minor open an account under the PNB Varshik Aay Yojana deposit scheme?

      Yes, a minor over the age of 10 years can open an account under the PNB Varshik Aay Yojana after providing an age proof.

    3. What is the minimum amount for opening an account under the PNB Varshik Aay Yojana deposit scheme?

      The minimum amount for opening an account under the PNB Varshik Aay Yojana deposit scheme is Rs.10,000.

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