The PNB Lakhpati Deposit Scheme is a unique recurring deposit (RD) offering from Punjab National Bank (PNB), designed to help individuals systematically save and accumulate a substantial corpus over time. This scheme combines the benefits of regular savings with the potential to build a significant amount, making it suitable for those aiming to achieve financial goals like purchasing a home, funding education, or securing retirement.
The PNB Lakhpati Deposit Scheme offers complete flexibility with regards to deposit tenures, deposit amounts and also comes with an overdraft or loan facility for account holders. The PNB Lakhpati Deposit Scheme can be opened and operated until it is withdrawn by Punjab National Bank.
Deposit Tenure - Punjab National Bank offers tenures ranging from 24 months, 36 months, 48 months, 60 months to up to 120 months for the PNB Lakhpati Deposit Scheme.
Deposit Amount - PNB Lakhpati Deposit holders can choose to deposit any installment amount starting from Rs. 1000, Rs. 1200, Rs. 1500 and Rs. 2100.
Interest Rate - The interest rate offered for the PNB Lakhpati Deposit Scheme is 9.00% per annum.
Maturity - The PNB Lakhpati Deposit Scheme will carry a maturity date that will be directly linked to the opening date of the deposit account.
Loans - Customers can also avail loans and advances on their PNB Lakhpati Deposit balance.
Reinvestment - PNB Lakhpati Deposit account holders can also choose to reinvest in the FD Spectrum Scheme offered by Punjab National Bank on maturity. The interest rate applicable will be as per card rates during maturity, if the recurring deposit has not been withdrawn by the customer.
Yes, you can avail yourself of a loan on the deposit amount. The bank permits up to 75% of the deposit amount at the time of availing the loan.
Yes, the facility of nomination is available for PNB Lakhpati deposit scheme.
Yes, TDS is applicable as per the latest changes in the Income Tax Act.
In the case of premature withdrawal of PNB Lakhpati scheme, there will be no penalty.
The minimum deposit amount for PNB Lakhpati scheme is Rs.1000.
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