Punjab National Bank (PNB) offers Fixed Deposit for interest rates lying within the range of 2.90% p.a. and 5.25% p.a. The highest PNB FD interest rate is 5.25% p.a. for deposits of less than Rs.2 crore. Senior citizens get an additional 50 bps interest over the prevailing interest rates for deposits of less than Rs.2 crore. The FD schemes come with a tenure ranging from 7 days to 10 years.
Punjab National Bank (PNB) offers competitive Fixed Deposit interest rates and a wide range of other benefits such as flexible tenure options, nomination facility, loan/overdraft option, etc. PNB fixed deposits offer competitive interest rates that vary depending on the time period and market conditions. Prospective customers can get information on all updated FD rates for 2021 from the below table. To apply for a PNB FD, customers can use internet banking.
Highlights of PNB FD Rates for Deposits Less than Rs.2 crore.
- Range of rates available for FD schemes: 2.90% p.a. to 5.25% p.a.
- Highest PNB FD rate is 5.25% p.a.
- PNB Tax Saver FD rate: 5.25% p.a. for general public and 5.75% p.a. for senior citizens.
- Highest PNB Uttam deposit scheme: 5.30% p.a.
PNB Domestic/NRO Term Deposit FD Rates Below Rs.2 Crore
| Tenure | Regular FD Rates (p.a) | Senior Citizen FD Rates (p.a) |
|---|---|---|
| 7 days to 14 days | 2.90% | 3.40% |
| 15 days to 29 days | 2.90% | 3.40% |
| 30 days to 45 days | 2.90% | 3.40% |
| 46 days to 90 days | 3.25% | 3.75% |
| 91 days to 179 days | 3.80% | 4.30% |
| 180 days to 270 days | 4.40% | 4.90% |
| 271 days to less than a year | 4.40% | 4.90% |
| 1 year | 5.00% | 5.50% |
| Above 1 year and up to 2 years | 5.00% | 5.50% |
| Above 2 years and up to 3 years | 5.10% | 5.60% |
| Above 3 years and up to 5 years | 5.25% | 5.75% |
| Above 5 years and up to 10 years | 5.25% | 5.75% |
Note: The FD interest rates are effective as of 1 November 2021. It can change at the discretion of the bank.
PNB Domestic/NRO Term Deposit FD Rates Between Rs.2 Crore and Rs.10 Crore
| Tenure | Regular FD Rates (p.a) |
|---|---|
| 7 days to 14 days | 2.90% |
| 15 days to 29 days | 2.90% |
| 30 days to 45 days | 2.90% |
| 46 days to 90 days | 3.00% |
| 91 days to 179 days | 3.00% |
| 180 days to 270 days | 3.00% |
| 271 days to less than a year | 3.00% |
| 1 year | 3.50% |
| Above 1 year and up to 2 years | 3.50% |
| Above 2 years and up to 3 years | 3.50% |
| Above 3 years and up to 5 years | 3.50% |
| Above 5 years and up to 10 years | 3.50% |
Note: The FD interest rates are effective as of 1 November 2021. It can change at the discretion of the bank.
PNB Short-Term FD Rates
The rates associated with PNB short-term deposits with tenures ranging from 7 days to 1 year ranges between 2.90% p.a. and 5.00% p.a. The highest interest rate offered on these deposits is 5.00% p.a., which is offered on a tenure of 1 year.
PNB Medium-Term FD Rates
The rate of interest applicable on medium-term PNB deposits with tenures more than 1 year and up to 5 years ranges from 5.00% p.a. to 5.25% p.a. The highest FD rates of 5.25% p.a. is available on a tenure ranging from 3 years to 10 years.
PNB Long-Term FD Rates
The interest rates offered on long-term PNB deposits stands at 5.25% p.a. The tenure on long-term FD starts above 5 years and up to 10 years.
PNB Fixed Deposit Rates for Senior Citizens
The rates associated with PNB deposits for senior citizens is set 50 bps higher than the regular FD rates. The interest rates range from 3.40% p.a. to 5.75% p.a. for short-term FDs and 5.75% p.a. for medium-term and long-term deposits.
PNB on Tax Saver Fixed Deposits
| Depositors | Up to 5 years Interest Rate (p.a.) | Above 5 years and up to 10 years (p.a.) |
|---|---|---|
| General Public | 5.25% | 5.25% |
| Senior Citizens | 5.75% | 5.75% |
| Staff Member | 6.25% | 6.25% |
| Retired Staff Member | 6.25% | 6.25% |
Note: The FD interest rates are effective 01 November 2021. It can change at the discretion of the bank.
PNB on PNB Uttam Term Deposit:
| Tenure bracket | Rs.15 lakh to Rs.2 crore(p.a.) | Rs.2 crore to Rs.10 crore(p.a.) |
|---|---|---|
| 91 days to 179 days | 3.85% | 3.05% |
| 180 days to 270 days | 4.45% | 3.05% |
| 271 days to less than 1 year | 4.45% | 3.05% |
| 1 year | 5.05% | 3.55% |
| Above 1 year and up to 2 years | 5.05% | 3.55% |
| Above 2 years and up to 3 years | 5.15% | 3.55% |
| Above 3 years and up to 5 years | 5.30% | 3.55% |
| Above 5 years and up to 10 years | 5.30% | 3.55% |
Note: The FD interest rates are effective as of 01 November 2021. It can change at the discretion of the bank.
Types of PNB FD Schemes
| PNB FD Scheme | Details |
|---|---|
| Annuity Term Deposit Scheme for Victims of Road Accidents |
|
| PNB Uttam Non-Callable Term Deposit Scheme |
|
| Schemes covered under E-FD |
|
| PNB Anupam Term Deposit Scheme |
|
| PNB Balika Shiksha | A sum of Rs.3,000 will be deposited in the name of:
|
| Capital Gain Account |
|
| PNB Multi-Benefit Term Deposit Scheme | Minimum deposit of Rs.100 and thereafter in multiples of Rupee one (Re.1) with maximum amount of Rs.1,99,99,999. |
| PNB Special Term Deposit Scheme |
|
| PNB Sugam Fixed Deposits |
|
| PNB Systematic Deposit Plan | Minimum of Rs.100 or above in its multiples. However, monthly deposit will not exceed ten times of such core. |
| PNB Ordinary Term Deposit Scheme | The Term Deposit Ordinary (TDO) account can be opened with a minimum deposit of Rs.100 and thereafter in multiples of Rupee one (Re.1) with maximum amount of Rs.1,99,99,999. |
| PNB Varshik Aay Yojna |
|
| PNB Tax Saver Fixed Deposit Scheme |
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| PNB Pranam Fixed Deposit Scheme |
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| PNB MIBOR Linked Notice Deposit Scheme |
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| PNB Floating Rate Fixed Deposit Scheme |
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| PNB Bulk Fixed Deposit Scheme |
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| PNB Growth Fixed Deposit Scheme |
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| PNB NRE Sugam Term Deposit Scheme |
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| PNB NRO Sugam Term Deposit Scheme |
|
Features of PNB Fixed Deposit
- Auto-renewal: If the depositor opts for auto-renewal, his/her term deposit will be automatically renewed after maturity except for term deposits under the Recurring Deposit Scheme, Capital Gain Scheme, PNB Tax Saver Scheme, Bulk Term Deposits (above Rs.10 Crore) and Inter-Bank Deposits.
- Inclusion of blind and illiterate persons: PNB allows blind and illiterate persons to open a fixed deposit account.
- Inclusions of all sections of society: Right from High School girls to beneficiaries of road accident insurance claims, PNB FDs are designed to serve every category of depositors.
Eligibility Criteria of PNB Fixed Deposit
- Resident individuals
- Non-resident Indians
- Hindu Undivided Families
- Sole proprietorship, partnership firms, public and private limited companies
- Registered societies, trusts and associations
Documents Required to Open a PNB Fixed Deposit
- Identification proof:
- Aadhaar card
- Voter ID card
- Driving licence
- PAN card
- Address proof:
- All related KYC documents as well as utility bills such as electricity bill and gas bill.
- Passport-size photographs
- Bank account statements
PNB Fixed Deposit - Premature Withdrawal
- 1% interest will be charged penalty when you prematurely withdraw your deposit or make a part withdrawal of any domestic term deposits. This holds good for all tenors. Note that the interest rate payable will be the contractual rate minus 1%. It can also be the rate under the scheme on the date applicable for which the deposit has been run minus 1%, whichever is lower.
- No There will be no penalty levied if the deposit if you prematurely close a deposit for the purpose of investment to other term deposit schemes of the bank. The deposit has to be with the bank after the re-investment for a period longer than the remaining period of the contract.
- If there is a term deposit with ‘Either or Survivor’ or ‘Former or Survivor’ mandate, the premature withdrawal of term deposits will be allowed to the surviving depositor. This will be without seeking the concurrence of the legal heirs, if there is a joint mandate. Here, premature withdrawal will not attract any interest.
PNB Loan against FD
Loans will be granted against fixed deposits to the credit of the borrowers and/or third parties. This will be extended at any PNB branch. The margin for advance granted against Rupee Term Deposit included NRE deposits is as under:
Advance Granted Against Rupee Term Deposit in the Name of the Borrower Including NRE Deposits
| Maturity Period Remaining when Granting Advances | Margin % |
|---|---|
| Advance against Term Deposit standing in the name of the borrower | |
| Up to 2 years | 5.00% |
| Above 2 years and up to 3 years | 7.50% |
| Above 3 years and up to 4 years | 10.00% |
| Above 4 years and up to 5 years | 12.00% |
| Above 5 years | 20.00% (Minimum) |
| Advance against third party deposits | 25.00% (Minimum) |
| Members of Staff/ honourably retired/ Voluntarily retired/ widow of Staff: | |
| Advance up to Rs. 3 Lacs | 5.0% |
| Advances Above 3 Lacs | As applicable to Public |
Advance Against Non-Resident Deposits (FCNR/NRO)
| Maturity Period Remaining when Granting Advances | Margin % |
|---|---|
| Advance against FCNR(B) Deposit to the Depositor | |
| Up to 1 year | 10.0% |
| Above 1 year but up to 2 years | 20.00% |
| Above 2 years | 30.0% |
| Advance against third party deposits | |
| Up to 2 years | 20.0% |
| Above 2 years | 30.0% |
| NRO Term Deposits | 25.0% |
How to Calculate PNB FD Interest Rate
The interest that you will earn out of your Punjab National Bank FD can be easily calculated using a fixed deposit interest rate calculator. This tool is very useful for prospective investors because it will help them know how much to invest to get the desired returns. To calculate the total earnings you will get out of your PNB FD, there are many factors that need to be considered. Let us take a look at some of these factors below.
Factors that affect FD maturity amount:
- Rate of interest: The rate at which a depositor is paid is an important factor that helps calculate the returns at the time of maturity. Note that the interest rate is different for different tenures.
- Amount invested: The principal that you invest is also a key piece of information that is needed to calculate the maturity amount using the FD calculator.
- Time period: Along with factors such as interest rate and principal, the tenure of the investment is also crucial because different time periods offer different interest rates.
- Compounding frequency: There are different interest compounding frequencies including monthly, quarterly, half-yearly and yearly. The time interval of interest compounding plays a pivotal role in determining the total value of the term deposit at the time of maturity
- Taxation: The amount of Tax Deducted at Source (TDS) also makes a difference as far as the total maturity value of the deposit is concerned.
Punjab National Bank FD Interest Calculator
An FD interest calculator helps users easily calculate the total maturity value of the fixed deposit. This can be done by feeding in details such as the principal amount, rate of interest, tenure, etc. An online FD interest calculator can be used for this purpose.
The BankBazaar FD interest calculator can be used to calculate the maturity amount of your FD. All you need to do is key in the relevant information and the results will be displayed to you in a matter of seconds. For example, if you invest Rs.1 lakh for a period of 2 years in a PNB FD scheme at the rate of 5.10% per annum, with an annual compounding frequency, the total maturity value will be Rs.1.1 lakh. The total interest earned out of the term deposit scheme will be Rs.0.1 lakh.
FAQs on Punjab National Bank FD
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Does PNB provide additional FD rates to senior citizens?
Yes, PND does offer an additional interest rate for senior citizens.
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Is it possible to deposit an additional amount into the fixed deposit account?
Now, you can always open a new fixed deposit.
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Is it necessary to provide a PAN card when applying for an FD scheme?
Yes, you need to submit your PAN card top open a PND fixed deposit.
