|Recurring Deposit Period||ROI (% per annum)||For Senior Citizen ROI (% per annum)|
|180 days to 270 Days||7||7.5|
|271 days to less than 1 year||7||7.5|
|above 1 year & upto 2 years||7.05||7.55|
|above 2 year & upto 5 years||7.05||7.55|
|above 5 years & upto 10 years||6.8||7.3|
Get the Highest Interest Rates on Punjab National Bank Recurring Deposit
Punjab National Bank offers Recurring Deposit for a duration of minimum 6 months to a maximum period of 5 years and a deposit term can be chosen in multiples of 3 months. This recurring deposit scheme offers great benefits including income tax benefits, since Tax Deductible at Source (TDS) is not applicable. Individuals as well as partnership firms, proprietorship, corporations, Hindu Undivided Families (HUFs), clubs, associations, societies, Religious/Educational/Charitable institutions, etc. can open a RD in Punjab National Bank. Interest on the amount deposited is compounded on a half-yearly basis.
PNB Short-term RD Interest Rates
Punjab National Bank offers customers the option of holding a recurring deposit with the bank for a short-term, beginning at a minimum period of 6 months and lasting up to less than a year, as long as the deposit tenure chosen is in multiples of 3 months. For this duration, the interest rate offered on a RD with funds below Rs. 1 Crore is 7%.
Punjab National Bank Medium and Long Term RD Interest Rates
Punjab National Bank offers customers the option of holding a recurring deposit with the bank for a medium-term, beginning at 1 year to 2 years for an interest rate of 7.30% and for a period more than 2 years up to 5 years the interest rate offered is 7.20%. For a longer duration of deposit term ranging from more than 5 years to a maximum period of 10 years, the interest rate offered on a RD (below Rs. 1 Crore) is 7.00%.
Punjab National Bank Senior Citizen RD Rates
The Senior citizens as well as the bank’s employees and retired employees who are senior citizens can avail a 0.50% additional interest rate on the recurring deposit offered by Punjab National Bank, over the applicable regular interest rates.
Punjab National Bank Special Recurring Deposit
PNB Lakhpati Recurring Deposit Scheme is another unique recurring deposit scheme offered by Punjab National Bank. Period of holding RD can range anywhere between 24, 36, 48 & 60 months. The interest rate offered on this recurring deposit scheme is 9.00%. This scheme permits customers the unique opportunity of reinvesting the amount accumulated at maturity, in the FD scheme. You can also get loan or overdraft facility under this scheme.
More you need to know about Recurring Deposit
- PNB Recurring Deposit
- Recurring Deposit
- Compare Recurring Deposit Interest Rates of PNB with Other Banks and Institutions
Punjab National Bank RD Schemes
- PNB Swechha Jama Yojna/Flexi Recurring Deposit Scheme
- PNB Special Recurring Deposit
- PNB Lakhpati Deposit Scheme (Recurring & Fixed Deposit) - B
Read More Articles On RD
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Know how to Link Your KYC Dcuments to Punjab National Bank Account
News About Punjab National Bank Recurring Deposit
PNB Revises Their Recurring Deposit Interest Rates
Punjab National Bank offers Recurring Deposit Schemes with great benefits. The duration of RDs offered by PNB starts from 6 months and can go up to 5 years, thereafter deposit terms can be chosen in multiple of 3 months. As per the revised interest rates, tenures ranging from 1 year to 2 years will now attract an interest rate of 7.30% per annum for general citizens and 7.80% p.a for senior citizens, which was 7.50% p.a and 8% per annum previously. For tenures above 2 years and up to 5 years, the interest rate is lowered from earlier 7.25% p.a to 7.20% for general account holders and from 7.75% to 7.70% p.a.
1st July 2016
Revised Punjab National Bank Recurring Deposit Rates
Punjab National Bank (PNB) has recently updated the interest rates offered by it for Recurring Deposit (RD) accounts with holdings of less than Rupees 1 Crore. The updated rates are as follows:
Tenure of 6 months to less than a year: Rate remains constant at 7.00% p.a. Rate for senior citizens also remains constant at 7.5% p.a.
Tenure from 1 year to 2 years : Lowered from earlier 7.75% p.a to 7.50% p.a. For senior citizens, rate lowered from 8.25% p.a to 8.00% p.a.
Tenure in excess of 2 years and upto 5 years : Lowered from earlier 7.50% p.a to 7.25% p.a. For senior citizens, rate lowered from 8.00% p.a to 7.75% p.a.
Tenure in excess of 5 years and upto 10 years : Remains constant at 7.25% p.a. For senior citizens, rate remains constant at 7.75% p.a.
22nd April 2016