PNB FD Rates 2020

Punjab National Bank (PNB) offers Fixed Deposit (FDs) for interest rates lying within the range of 4.25% p.a. and 5.80% p.a. The highest PNB FD interest rate is 5.80% p.a. for deposits of less than Rs.2 crore. Senior citizens get an additional 50 bps interest over the prevailing interest rates. The FD schemes come with a tenure ranging from 7 days to 10 years.

PNB FD Interest Rates

Best PNB FD Interest rates: Below Rs.2 crore

Tenure Regular FD Rates (p.a) Senior Citizen FD Rates (p.a)
7 days to 45 days 4.25% 4.75%
46 days to 90 days 5.00% 5.50%
91 days to 179 days 5.00% 5.50%
180 days to 270 days 5.50% 6.00%
271 days to less than a year 5.60% 6.10%
333 days 5.75% 6.25%
1 year 5.80% 6.30%
444 days 5.80% 6.30%
555 days 5.80% 6.30%
Above 1 year and up to 2 years 5.80% 6.30%
Above 2 years and up to 3 years 5.80% 6.30%
Above 3 years and up to 5 years 5.80% 6.30%
Above 5 years and up to 10 years 5.80% 6.30%

Note: The FD interest rates are effective as of 1 April 2020. It can change at the discretion of the bank.

Highlights of PNB FD Rates for Deposits Less than Rs.2 crore.
  • Range of rates available for FD schemes: 4.25% p.a. to 5.80% p.a.
  • Highest PNB FD rate is 5.80% p.a.
  • PNB Tax Saver FD rate: 5.80% p.a.
  • Highest PNB Uttam deposit scheme: 5.85% p.a.

Punjab National Bank (PNB) offers competitive Fixed Deposit (FD) 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 2020 from the below table.To apply for a PNB FD, customers can use internet banking.

PNB Short-Term FD Rates

The rates associated with PNB short-term deposits with tenures ranging from 7 days to 1 year ranges between 4.25% p.a. and 5.80% p.a. The highest interest rate offered on these deposits is 5.80% 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 is 5.80% p.a. The highest FD rates of 5.80% p.a. is available on a tenure of 555 days.

PNB Long-Term FD Rates

The interest rates offered on long-term PNB deposits stands at 5.80% 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 0.50% higher than the regular FD rates. The interest rates range from 4.75% p.a. for short-term FDs to 6.30% p.a. for medium-term and long-term deposits.

Interest Rates on PNB Fixed Deposits: Rs.2 crore to Rs.10 crore

Tenure Regular FD Rates (p.a) Senior Citizen FD Rates (p.a)
7 days to 45 days 3.60% N/A
46 days to 90 days 3.80% N/A
91 days to 179 days 4.00% N/A
180 days to 270 days 4.50% N/A
271 days to less than a year 4.50% N/A
333 days 4.60% N/A
1 year 5.00% 5.80%
555 days 5.00% 5.80%
Above 1 year and up to 2 years 5.00% 5.80%
Above 2 years and up to 3 years 5.00% 5.80%
Above 3 years and up to 5 years 5.00% 5.80%
Above 5 years and up to 10 years 5.00% 5.80%

Note: The FD interest rates are effective as of 1 April 2020. It can change at the discretion of the bank.

Interest paid by 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 5.80% 5.80%
Senior Citizens 6.30% 6.30%
Staff Member 6.80% 6.80%
Retired Staff Member 6.80% 6.80%

Note: The FD interest rates are effective 1 April 2020. It can change at the discretion of the bank.

Interest paid by 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 5.05% 4.05%
180 days to 270 days 5.55% 4.55%
271 days to less than 1 year 5.65% 4.55%
333 days 5.80% 4.65%
1 year 5.85% 5.05%
555 days 5.85% 5.05%
Above 1 year and up to 2 years 5.85% 5.05%
Above 2 years and up to 3 years 5.85% 5.05%
Above 3 years and up to 5 years 5.85% 5.05%
Above 5 years and up to 10 years 5.85% 5.05%

Note: The FD interest rates are effective as of 1 April 2020. It can change at the discretion of the bank.

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 5.80% 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.

Key Information before Opening a Fixed Deposit

Eligibility to Open an FD
  • Individual
  • Joint account Minor with a guardian
  • Partnership
  • Company
  • Any association or Institute
  • NRIs
Documents Required
  • Application Form
  • Depositor’s photograph (2 copies)
  • Identity proof & Address proof as per KYC Norms
  • PAN Card copy/ Form 60 or 61
  • Aadhaar Card Details
Benefits of a PNB FD
  • Nomination facility
  • Automatic renewal option after maturity
  • Part withdrawal facility on the deposits
  • Avail loan

FAQs on Punjab National Bank FD

  1. Can interest rates on term deposits change from time to time?

    Yes. Banks may change their interest rates on term deposits at any point in time. However, you will be paid interest at the rate at which you applied for the FD.

  2. Do you have to pay tax on the interest earned on fixed deposits?

    Yes. The interest earned on FDs is subject to tax only if the total interest income is more than Rs.10,000 in a given financial year.

  3. What are the consequences if you do not provide PAN card details while applying for the FD?

    The following will be the consequences:

    • TDS will be deducted at a higher percentage of 20% as against the normal 10%.
    • TDS certificate will not be issued.
    • You may not receive TDS credit from the Income Tax department.
    • All tax exemption certificates will be deemed null and invalid.
  4. How is interest paid to a term deposit holder?

    The interest will be directly credited to the customer’s perspective savings bank account.

  5. Is the interest rate offered on e-FDs the same as regular FDs?

    Yes.

News About Punjab National Bank Fixed Deposit

  • 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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