PNB Fixed Deposit Rates 2021

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
  • Places the funds received from the Motor Tribunals under the Motor Accident Claims Annuity Deposit (MACAD) as per court orders for victims of road accidents
  • The one-time lumpsum claim amount can be deposited as EMIs for a tenure of 36 months to 10 years.
PNB Uttam Non-Callable Term Deposit Scheme
  • For single deposits of Rs.15 lakh
  • Maturity option of 91 days to 10 years
  • Income option of 6 months to 10 years
  • Individuals, minors, HUFs, proprietorships, clubs, societies, as well as blind and illiterate people are eligible
Schemes covered under E-FD
  • Open for existing customers having a savings or current account
  • Applicable only for internet banking users.
  • Auto Renewal facility provided only for the maturity value.
  • Multi Benefit Term Deposit Scheme (below Rs.1 Crore)
  • Special Term Deposit Scheme (below Rs.1 Crore)
  • Ordinary Term Deposit Scheme (below Rs.1 Crore)
  • PNB Sugam Term Deposit Scheme (up to Rs.10 Crore).
PNB Anupam Term Deposit Scheme
  • Inbuilt overdraft facility
  • Deposits from Rs. 10,000 to Rs.99,99,000
PNB Balika Shiksha A sum of Rs.3,000 will be deposited in the name of:
  • Girls passing class VIII from Kasturba Gandhi Girls High Schools
  • SC/ST girls who pass class VIII and enrol for class IX in state/UT government aided or local body schools in the academic year 2008-2009 onwards
Capital Gain Account
  • Individuals can open this account for crediting amount from capital gain
  • Joint accounts cannot be opened under this
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
  • Deposit of Rs.100 to Rs.2 crore
  • Tenure of 1 to 10 years
PNB Sugam Fixed Deposits
  • FDs from Rs.10,000 to Rs.10 crore
  • Tenure starting from 46 days
  • No penalty on premature part/full withdrawal
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
  • FDs from Rs.10,000 to Rs.99.99 lakh
  • From 24 months to 120 months
PNB Tax Saver Fixed Deposit Scheme
  • Deposit up to Rs.1.5 lakh per financial year
  • Tenure of up to 10 years
  • Lock-in period of 5 years
  • For senior citizens, 1% additional interest over and above the interest rate, inclusive of the additional interest under the scheme.
PNB Pranam Fixed Deposit Scheme
  • For persons aged 55 years up to 60 years Minimum deposit is Rs.100 and in multiples of Rs.1 thereafter
  • Maximum amount is Rs.99, 99,999
  • Extra interest rate as applicable on attaining senior citizenship
PNB MIBOR Linked Notice Deposit Scheme
  • Deposits have interest rate linked to the Mumbai Inter Bank Offer Rate (MIBOR) NSE overnight
  • Only applicable in metro city branches
  • Single deposit of above Rs.10 crore
  • Tenure of 7 days to 60 days
  • For companies, PSUs, commercial organisations, and High Net worth Individuals (HNIs)
PNB Floating Rate Fixed Deposit Scheme
  • Minimum deposit of Rs.1,000 and multiples thereof
  • Tenure ranging from 7 days to 10 years
PNB Bulk Fixed Deposit Scheme
  • For deposits of above Rs.10 crore
  • Maturity option between 7 days and 5 years
  • Income option between 6 months to 10 years
PNB Growth Fixed Deposit Scheme
  • For deposits ranging from Rs.2 crore to Rs.10 crore
  • Maturity period from 7 days to 10 years
  • Income option from 6 months to 10 years
PNB NRE Sugam Term Deposit Scheme
  • For NRIs in single or joint capacity
  • No maximum limit
  • Minimum deposit of Rs.1,000
  • Tenure ranging from 1 year to 10 years
PNB NRO Sugam Term Deposit Scheme
  • For NRIs or Persons of Indian Origin (PIO)
  • Minimum deposit of Rs.10,000
  • Maximum of up to Rs.10 crore
  • Tenure ranging from 46 days up to 10 years

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

  1. Does PNB provide additional FD rates to senior citizens?

    Yes, PND does offer an additional interest rate for senior citizens.

  2. Is it possible to deposit an additional amount into the fixed deposit account?

    Now, you can always open a new fixed deposit.

  3. 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.

News About Punjab National Bank Fixed Deposit

  • Punjab National Bank Revises its Fixed Deposit Interest Rates

    Fixed deposit interest rates have been revised by Punjab National Bank. These rates will take effect from 1 August 2021. The bank will offer an interest rate ranging from 2.9% to 5.25% on all its fixed deposits that will mature between 7 days to 10 years. The bank will also offer a 2.9% interest rate on 7–45-day fixed deposits and a 4.4% rate on FDs that are less than a year old. The bank will also offer an interest rate of 5.25% on deposits that mature between 5 years to 10 years.

    06 August 2021

  • Punjab National Bank revises its fixed deposit rates by up to 20 basis points

    Public sector lender, Punjab National Bank (PNB) has revised its fixed deposit (FD) interest rates to be effective from 1 November 2019. As per the official website of the lender, there has been a reduction in the interest rates by 20 basis points (20 bps) or 0.20 percentage points in select tenors. Post the revision in the rates, PNB will be offering interest rates in the range of 4.5 to 6.4% on FDs up to Rs.2 crore to the general public over tenors ranging between 7 days and 10 years. For FD with maturity periods ranging from 7 to 45 days, the revised rates for the general public and senior citizens are 4.5% and 5% respectively while for tenors of 46 to 179 days the rates are 5.5% and 6% respectively. The revised FD rates for tenors 180 to less than 1 year, 333 days, 1 year to 555 days, above 1 year and up to 2 years, above 2 years and up to 5 years, and above 5 years and up to 10 years for the general public are 6%, 6.1%, 6.4%, 6.3%, 6.25%, and 6% respectively.

    12 November 2019

  • Fixed Deposit Interest Rates Revised by PNB Two Times in a Month

    With effect from 1 October 2019, Punjab National Bank (PNB) has revised the interest rates for fixed deposits (FD) and savings accounts. The new revision in interest rates comes after the monetary policy announcement that was made by the Reserve Bank of India (RBI) on 4 October 2019.

    Compared to general customers, PNB offers senior citizens a 50 bps higher interest rate. FD and savings account interest rates were earlier revised by PNB on 1 September 2019. Due to the revision of interest rates, PNB offers FDs with interest rates that range between 4.5% and 6.5% with maturing periods ranging between 7 days and 10 years, respectively. The interest rates offered by PNB for FDs ranging between 7-45 days and 45-179 days are 4.5% and 5.5%, respectively. The FD interest rates for maturity periods ranging between 7 days and 270 days have remained the same. In the case of FDs ranging between 271 days and less than a year, the interest rate has reduced by 25 bps and is 6%. In the case of FD maturing in 333 days and 1 year, the interest rates have been cut by 20 bps and 10 bps, respectively. Therefore, the interest rates for FDs that mature in 333 days and 1 year are 6.1% and 6.5%, respectively.

    7 October 2019

  • Punjab National Bank revises FD rates

    Punjab National Bank (PNB), one of the public sector banks operating in the country has revised the fixed deposit rates with effect from September 1. PNB is the latest bank to revise the rates after the country’s central bank i.e., Reserve Bank of India cut the repo rate for the fourth time this year. The lender is offering interest in the range of 4.50% p.a. to 6.60% p.a. for deposits having a tenure between 7 days and 12 months. For investments which have a tenure above 12 months and up to 3 years, the rate of return offered by the bank is between 6.50% p.a. to 6.60% p.a. Term deposits opened for a tenure of 3 years and up to 10 years attract an interest of 6.50% p.a. Citizens above the age of 60 years are offered additional interest of 0.50% p.a. on all FD tenures. It needs to be mentioned here that last week the government announced four new sets of mergers in the public-sector banking arena. As part of that merger scheme, the country’s second largest lender will be formed by combining PNB, United Bank of India, and Oriental Bank of Commerce.

    3 September 2019

  • Fixed deposit rates revised by Punjab National Bank

    On Monday, Punjab National Bank (PNB) revised the fixed deposit interest rates on select maturities. The bank lowered the interest rate for tenures that range between 7 to 14 days and 15 to 29 days. The revised interest rates for the mentioned tenures is 5.5% for general citizens. Senior citizens are offered an additional interest of 0.50% on the maturities. Earlier, the bank was offering 5.75% on the tenures. The lender also revised the rates for the one-year tenure and is offering 7%.

    For deposits having maturity term of more than one year and up to 3 years, the bank is offering 6.75%. And for tenures ranging between more than 3 years and 10 years, interest of 6.25% is being provided. Citizens who are above the age of 60 years can avail 7.25% and 6.75% respectively for investing in the mentioned tenures. The revised shall be applicable from today (July 1) itself.

    It needs to be mentioned here that in the middle of the previous month i.e., June, banks like ICICI bank, Axis bank and HDFC bank cut the FD interest rates on select maturities.

    2 July 2019

  • FD interest rates revised by Punjab National Bank

    Punjab National bank, one of the public-sector banks of the country has revised the fixed deposit interest rates on select maturities. The revised rates have come into effect from May 1.

    The bank has informed that the interest rate on deposits for a period of 333 days has been lowered while for the one-year tenure the rates have been increased. Going forward, the bank will offer an interest of 6.95% p.a. to the general public and 7.45% p.a. to senior citizens on FDs opened for a period of 333 days. For FDs having one-year maturity, the lender is providing 7% p.a. to the general public and 7.5% p.a. to senior citizens.

    The bank offers an interest rate in the range of 5.75% p.a. to 6.95% p.a. to the general public for all maturities. Senior citizens are offered interest in the range of 6.25% p.a. to 7.45% p.a.

    It is noteworthy to mention here that fixed deposits having a lock-in period of five or 10 years offer income tax benefits under Section 80C of the Income Tax Act, 1961.

    08 May 2019

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