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    Punjab National Bank (PNB) Fixed Deposit (FD) Scheme 2018

    Punjab National Bank (PNB), a well-known public sector bank, offers a range of Fixed Deposit (FD) schemes for regular depositors and senior citizens. The highest rate of interest offered is 6.60% for 1-year deposits. For senior citizens, the rate of interest paid is 7.10% for the same tenure. PNB provides different term deposit options such as e-FDs, Sugam Term Deposits, Multi Benefit, Special, Ordinary, and Anupam Term Deposit Schemes. The bank also offers floating and bulk FD schemes. PNB offers competitive interest rates on all FDs and seniors citizens are eligible to avail special interest rates on all types of deposits.

    Eligibility criteria for PNB FD

    Any individual, organisation, private company, club, HUF or society can open these Fixed or Term Deposit accounts. Some deposits schemes are open for NRIs too.

    PNB FD schemes

    • FD scheme for road accident victims: This scheme is for beneficiaries of motor insurance claims. Any individual/dependent (singly or jointly with others), minors aged 10 years and above in his own name and below 10 years under guardianship, is eligible to open an account under this scheme provided there are Court orders in support of the claim in his/their names.
    • PNB Special Term Deposit scheme: Minimum 1 year to 10 years even for incomplete quarters.
    • PNB Sugam Fixed Deposits: FDs from Rs.10,000/- to Rs.10 crore for as briefly as 46 days. No penalty on premature part/full withdrawal.
    • PNB Varshik Aay Yojna: FDs from Rs.10,000 to Rs.99.99 lakh from 24 months to maximum period of 120 months
    • PNB Anupam Term Deposit Scheme: Has inbuilt overdraft facility, deposits from Rs. 10,000 to Rs.99,99,000/- Learn more about PNB Anupam Term Deposit Scheme
    • 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 and 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 Dugna Fixed Deposit: FDs can be opened for a period up to 99 months with a minimum amount of Rs.5,000 and multiples of Re 1/- and Rs 1 crore per day. Under the scheme, Non-resident Indians can open NRO accounts. Read more about PNB Dugna Scheme
    • PNB multi-benefit Deposit Scheme: Anything from Rs.100 to Rs. 99.99 lakhs can be deposited with multiple benefits
    • PNB Saksham: Minimum Rs. 25,000/- and thereafter in multiple of Re.1/- subject to maximum of Rs.10 Crore. Senior citizens earn 0.50 % interest extra. Depositors can avail regular monthly pay out consisting of interest plus part of principal. Read more about PNB Saksham Deposit Scheme

    Key features of PNB Fixed Deposits

    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.

    FAQs on Punjab National Bank (PNB) FD

    1. What is the minimum / maximum amount required to open a fixed deposit account at PNB?

      Term Deposits like Balika Shiksha can be opened with a nil balance. Usually the upper limit is Rs.10 crore for most fixed deposits.

    2. What is the minimum / maximum deposit period for FD accounts at PNB?

      Term Deposits can be opened from as briefly as 7 days to as long as 10 years. There is the option of auto-renewals at the end of term too.

    3. How can a fixed deposit account be opened at PNB (Online or Offline)?

      Any Indian above 10 years old can walk into any branch of PNB and open an account by providing KYC details. For minors below 10 years, parents consent/signature is required.

      E-FD: Available to internet banking customers with a PAN card. They can open FDs online.

    4. What are the minimum / maximum returns on PNBs FD?

      Interest rates for fixed deposits depend on the card rate applied by PNB. However, there are deposit schemes like Lakhpati where the interest rate hovers around 9 percent. Senior citizens are eligible to earn 0.50 percent more.

    5. Does Punjab National Bank offer Tax Saver Fixed Deposit schemes?

      Yes, the PNB Tax Saver Term Deposit. At least Rs 100/- or in multiples thereof, subject to a maximum of Rs.1.50 lakh per financial year is acceptable. Deposits cannot be withdrawn before 5 years.

    6. Are fixed deposit holdings taxable?

      Currently as per Income Tax Act, if the total interest on deposits, per depositor, per financial year, per branch is more than Rs.10,000/-, the bank deducts tax at source (TDS). Form No.15 H/15G has to be furnished by depositors, preferably at the start of the financial year to receive interest on deposits without deduction of tax.

    7. Do senior citizens get better rates on fixed deposits at PNB?

      Prospective Senior Citizen Deposit Scheme:This is a scheme for persons aged 55 years and above and up to 60 years. Minimum deposit is Rs.100/- and in multiples of Rs.1/- thereafter. The maximum amount permitted under the scheme is Rs.99, 99,999/-. Extra interest rate as applicable on attaining senior citizenship.

    8. Can NRIs open a fixed deposit account with Punjab National Bank?

      Yes, NRIs can open fixed deposit account with Punjab National Bank. The account can be opened in STG Pound, US Dollars and EURO. Minimum balance required is GBP1000, USD1000 and EURO1000. The interest rates for deposits less than Rs.1 crore is:

      1 year- 8.25%

      Above 1 year to 2 years- 8.25%

      Above 2 years to 5 years- 8.25%

      Above 5 years to 10 years- 8%

      The interest rates for deposits between Rs.1 crore to Rs.10 crores is:

      1 year- 8.25%

      Above 1 year to 2 years- 8.50%

      Above 2 years to 5 years- 8 %

      Above 5 years to 10 years- 8%

      The senior citizens will bet an additional 0.5% interest per annum.

    9. Can I withdraw my fixed deposit amount before its maturity?

      PNB does not allow premature withdrawals. But in exceptional cases it is allowed but a certain penalty will be charged at the time of withdrawal. The penalty will be communicated with the customer prior to the closure. In case of premature closure, the interest applicable will be payable minus the penalty. The interest payable is the rate at which the fixed deposit was decided upon at the time of deposit.

    10. Are loans provided against FDs held with Punjab National Bank?

      Generally PNB allows overdrafts/loans against deposits except on Certificates of Deposit (CD). Such loans are sanctioned by charging interest as per RBI bank rate or as prescribed by the Bank.

    Punjab National Bank Fixed Deposit Reviews

    • Punjab National Bank Fixed Deposit
      "Good Investment Plan"
      0.5 5.0/5 "Blown Away!"
      I have taken fixed deposit account in Punjab National Bank . They are not charging any charges for the account . I used to get income tax benefits . Am satisfied with the customer service and resonance.They are giving good rate of interest . Overall am happy with my account .
      Was this review helpful? 3
      , new delhi
      Reviewed on Dec 06, 2018
    • Punjab National Bank Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the fixed deposit account with the Punjab National bank and the services are good one. I would like to say that the rate of interest is okay one for me with the Punjab National bank. I am really happy with them till now.
      Was this review helpful? 3
      , jaipur
      Reviewed on Feb 27, 2018
    • Punjab National Bank Fixed Deposit
      "Fixed deposit with PNB"
      0.5 5.0/5 "Blown Away!"
      I hold a fixed deposit with PUNJAB NATIONAL BANK. The rate of interest is 4.5% for one year. Even if i withdraw with in the Fixed Deposit period they do not apply any charges. The customer service and response with the fixed deposit account is great.
      Was this review helpful? 2
      , noida
      Reviewed on Jan 11, 2018
    • Punjab National Bank Fixed Deposit
      "Average Investment"
      0.5 3.0/5 "Satisfactory"
      I put a decent amount of my Money into Fixed Deposit and PNB looked to be a perfect fit for that. I got Interest return of 7%, which I feel is quite good compared to the Market standards. The best thing about this Investment is that I can take the whole amount out of the FD any time I want even before maturity.
      Was this review helpful? 8
      , new delhi
      Reviewed on Dec 21, 2017
    • Punjab National Bank Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      I am having the fixed deposit account with the Punjab National bank and the interest rate is around 8%. Customer service is okay for me and I have not faced any issues with them. Online banking services are not having issues with them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Oct 28, 2017
    • Punjab National Bank Fixed Deposit
      "PNB is my bank"
      0.5 5.0/5 "Blown Away!"
      PNB is my bank as I worked as a Senior Manager there so I know how the bank works. , Interest rate offered by them was the 1.5% extra than the normal interest rate for FD because I am staff of that bank I get 6.60% for 5years. For senior citizen they give 6.25% plus some additional interest too.
      Was this review helpful? 3
      , jalandhar
      Reviewed on Sep 05, 2017
    • Punjab National Bank Fixed Deposit
      "Scheme is good"
      0.5 5.0/5 "Blown Away!"
      PNB Fixed deposit scheme is very good, yes it is a good bank. I am using this bank account for about 15 years . My parents are holding an account there which prompted me to open this account with this bank, it is a reputed bank too so I had taken FD from this bank. Interest rate 9%for FD and I do get tax benefit from this FD
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 11, 2017
    • Punjab National Bank Fixed Deposit
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I had invested in fixed deposit with Punjab National Bank. I have deposited ceratin amount on my account. I got good response from the bank when I opened FD. The bank was so supportive and they provided all the information regarding FD. The interest rates too are pretty attractive.
      Was this review helpful? 5
      , indore
      Reviewed on May 04, 2017
    • Punjab National Bank Fixed Deposit
      "Customer service should be good and unique for everyone"
      0.5 4.0/5 "Great!"
      I do have fixed deposit account with the Fixed deposit and they have provided around 8.5% as interest rate. Services are perfect one for me and I do have good relationship with them because my relatives are working there. Net banking services are also working good and they are started to exhibit most of the services there.
      Was this review helpful? 5
      , ghaziabad
      Reviewed on Apr 26, 2017
    • Punjab National Bank Fixed Deposit
      "Easy & fast process"
      0.5 5.0/5 "Blown Away!"
      I have taken a fixed deposit with Punjab National bank. It was a easy process to open this account. Though I have an option on the portal. I preferred visiting the bank in person and the process was completed pretty fast. The rate of interest is satisfactory too.
      Was this review helpful? 7
      , ambala
      Reviewed on Aug 08, 2016
    • Punjab National Bank Fixed Deposit
      "Average Experience"
      0.5 3.0/5 "Satisfactory"
      I hold a fixed deposit with PNB Bank. The services are average from them. When ever I contact them with a query, I do not get a very satisfactory answer. The rate of interest is normal. There are no charges taken for this facility. It would be better if there is an improvement in services.
      Was this review helpful? 5
      , jammu
      Reviewed on Jul 05, 2016
    • Punjab National Bank Fixed Deposit
      "Excellent !!!!"
      0.5 5.0/5 "Blown Away!"
      PNB is giving 7.5% interest rate for one year fixed deposit . There is no activation charges. The minimum amount is Rs.1000. We can avail the plan through online which will be activated on the spot. If we withdraw the many in between there are no charges
      Was this review helpful? 15
      , faridabad
      Reviewed on Mar 18, 2016
    • Punjab National Bank Fixed Deposit
      "Never to trust"
      0.5 1.0/5 "Really Bad"
      When i opened the fixed deposit account the amount was taken from the saving so they told that there is no need of any receipt and another account number.But after seven months when i applied to break the deposit they were asking for th receipt and account number by which i am not able to break it. In the initial stage they told that for 10,000 will get 18,000 after a year but later they informed will get Rs.10,850. They are not transparent to the customer.
      Was this review helpful? 11
      , ghaziabad
      Reviewed on Jan 13, 2016
    • Punjab National Bank Fixed Deposit
      "Happy with them..."
      0.5 5.0/5 "Blown Away!"
      My fixed account is with Punjab national bank. Interest part was good. I am getting lots of offers from them. They offered me a debit card. They will provide install loan without any documents. We can use it as multiple purpose. Their fixed account is flexible for every one.
      Was this review helpful? 11
      , chennai
      Reviewed on Nov 14, 2015
    • Punjab National Bank Fixed Deposit
      "lONG TERM CUSTOMER"
      0.5 3.0/5 "Satisfactory"
      I opened an Fixed Deposit account with PNB because it is reliable to the customers. There is no need to open an savings account with them for doing any kind of investments. But if its any private bank we have to open an account as well as need to maintain some minimum balance. 9% is the rate of interest they are offering to me.
      Was this review helpful? 13
      , gurgaon
      Reviewed on Oct 10, 2015
    • Punjab National Bank Fixed Deposit
      "GOOD PROFIT "
      0.5 4.0/5 "Great!"
      I opened an Fixed deposit account with PNB. Since it is an government sector I opened this account with them. They are very matured in banking services. It is very safe with PNB to hold an FD account, one of my friend has suggested me about this bank. They have offered me 9% interest rate which is good.
      Was this review helpful? 11
      , guwahati
      Reviewed on Sep 16, 2015
    • Punjab National Bank Fixed Deposit
      "Good.."
      0.5 4.0/5 "Great!"
      I am banking with only one bank that is Punjab National Bank so basis that I got this fixed deposit and rate is 7.5 to 9%. For senior citizens the interest might be 9%. I have not done the pre maturity so have no idea about the same. My banking relationship with this bank is very good and they are acting fast on my queries.
      Was this review helpful? 12
      , chennai
      Reviewed on Aug 06, 2015
    • Punjab National Bank Fixed Deposit
      "Good Experience!!"
      0.5 4.0/5 "Great!"
      It is a very good experience with the Punjab National bank for the fixed deposit account. I had taken the deposit from this bank as the bank was near to my place and it is easily accessible for me. I do get a proper response from the bank whenever I approach them.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 28, 2015
    • Punjab National Bank Fixed Deposit
      "Very good"
      0.5 4.0/5 "Great!"
      Interest rate offered for the fixed deposit plan is 9% from Punjab national bank.The minimum lock in period for fd is 10 years and i have taken for the tenure of 15 years. To start the plan the minimum amount to be deposit is just Rs.1000 . There is no any extra charge in case we break the tenure.After the plan gets matured we can avail the amount b visiting the bank.
      Was this review helpful? 7
      , noida
      Reviewed on Jul 24, 2015
    • Punjab National Bank Fixed Deposit
      "Nice Returns"
      0.5 4.5/5 "Excellent!"
      As my account is with Punjab National bank since last 4 years so I opened the fixed deposit account in the same bank. Interest rate is getting transferred to my account once in year. There in a possibility to withdraw the amount in midst of the tenure as they are not going to charge anything as penalty. I would say, the interest rate as less comparing to other banks.But since it is linked with my saving account it is best for me.
      Was this review helpful? 5
      , mumbai
      Reviewed on Jul 23, 2015
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