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  • PNB RD Interest Rates

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    A PNB recurring deposit account is one of the most sought after investment schemes that the market currently has to offer. The term period for a PNB recurring deposit account ranges from 6 months to 10 years. The term periods are divided into short-term, medium-term and long-term tenures. A tenure from 6 months to a year is considered short term, a tenure from more than a year to 5 years is counted as medium term, and a period of more than 5 years to less than 10 years is considered long term.

    Listed below are the RD Interest Rates offered by PNB Bank w.e.f. 1 March 2018, according to the tenure selected by the customer.

    Tenure Regular RD Interest Rates (p.a) Senior Citizen RD Interest Rates (p.a)
    180 days to 270 days 6.35% 6.85%
    271 days to 364 days 6.35% 6.85%
    1 year 6.60% 7.10%
    Above 1 Year to 3 years 6.75% 7.25%
    Above 3 years to 5 years 6.25% 6.75%
    Above 5 years to 10 years 6.25% 6.75%

    *The above interest rates are for investments less than Rs.1 crore

    Important Information to Note for PNB Recurring Deposit Scheme

    Some of the important details regarding an PNB recurring deposit account are mentioned in the table below:

    Minimum Amount to be Deposited Rs.100
    Tenure 180 days to 10 years
    Additional Interest Rate for Senior Citizen 0.50%
    What is the Maximum Interest Rate offered by the bank and for which tenure? The maximum interest rate offered is for the term period ranging from more than a year to 3 years. The rate offered is 6.75% for regular citizens and 7.25% for senior citizens.
    Loan Against Deposit Available
    TDS on RD The TDS deductible will depend on the income slab to which the applicant belongs.
    Nomination Facility Most types of RD offered by PNB have nomination facility.

    Eligibility Criteria for PNB Recurring Deposit

    Following individuals or entities are eligible to open a PNB recurring deposit account:

    • Any individual.
    • Any minor who is above 10 years of age if he or she provides proof of the name.
    • Any minor who is below or equal to 10 years of age under the guardianship of natural or legal guardian.
    • Any corporate, company, proprietorship or commercial organisation.
    • Any government organisation.
    • Any person who is illiterate or blind person is also eligible for a PNB RD account.

    Documents Required for PNB Recurring Deposit Scheme

    • Identity Proof: Documents that can be accepted by PNB as identity proof for Recurring Deposit are copy of passport, PAN card, Aadhar card, Voter ID, Driving licence, Ration card, Government ID card, Senior citizen card.
    • Address Proof: Documents that can be accepted by PNB as address proof for an RD account include copy of passport, Aadhar card, electricity bill, phone bill, bank statement with cheque.
    • Passport size photographs of the applicant.
    • Filled application form through which a PNB Recurring Deposit account can be opened.

    How to Apply for a PNB Recurring Deposit Account?

    • If you are an existing PNB account holder, you can use your netbanking username and password to login to your online account and open an e-RD right away. However, if you do not have your netbanking credentials, you can always walk into the nearest PNB branch and a bank officer will help you open an RD account.
    • If you are not a PNB account holder, you will have to open a PNB bank account first by visiting the nearest PNB bank branch. After your account is active, you will be allowed to open an e-RD by logging in to your netbanking.

    Get the Highest Interest Rates on PNB Recurring Deposit

    For different term periods, different rates of return can be availed. The interest rates are different for regular and senior citizens. The interest rate ranges from as low as 6.25% to as high as 6.75% for regular citizens, and 6.75% to 7.25% for senior citizens.

    PNB Short-Term Recurring Deposit Interest Rates

    For the term period ranging from 180 days to a year, the interest rate offered by PNB for a recurring deposit account is 6.35% for regular citizens and 6.85% for senior citizens.

    PNB Medium-Term and Long-Term RD Interest Rates

    For medium-term tenure, the highest rate of return offered by PNB is for 1-3 years period which is 6.75% for regular citizens and 7.25% for senior citizens. For the term period 3 to 5 years, the rate of return offered by the bank is 6.25% for regular citizens and 6.75% for senior citizens. As far as long-term tenure is considered, the rate of return offered by PNB for a period of more than 5 years and less than 10 years is 6.25% for regular citizens and 6.75% for senior citizens.

    PNB Senior Citizen RD Rates

    • For senior citizens, Punjab National Bank’s (PNB) rate of return is 0.50% greater than that for regular citizens.
    • For the short- term tenure, the rate of interest offered by PNB recurring deposit account ranges from 6.85% to 7.10% p.a.
    • For the medium-term and long-term tenure, PNB offers interest at 7.25% and 6.75% p.a. respectively.

    Types of Recurring Deposits Offered By PNB

    PNB offers many types of recurring deposits. Some of the most popular ones are:

    • PNB Recurring Deposit Scheme (E-RD): This RD account can be opened by PNB internet banking users only. This e-RD account also has benefits like nomination which are available in regular RD account. Upon maturity, the benefit will be credited to the same account through which the term deposit was deposited.
    • PNB Recurring Deposit Scheme: This RD account can be opened by anyone who is 10 years of age or above. Applicants below 10 years of age can also open a PNB Recurring Deposit Scheme with the help of a guardian. Apart from individuals, partnership firms, Hindu Undivided Families, associations, clubs, and other government bodies can also apply for this RD account.

      A PNB Recurring Deposit Scheme can be opened by paying as little as Rs.100 and in multiples thereof. The tenure of the RD can range anywhere from 6 months to 120 months in multiples of 1 month.

    • PNB Special Recurring Deposit Product: A PNB Special Recurring Deposit Account can be opened by any government institutions, private institutions, or corporate bodies. Any institution with a minimum of 10 employees or 75% of eligible employees(whichever is lower) can participate in this scheme.

    PNB Recurring Deposit Calculator

    Most people opt for recurring deposits to maximise their savings. The maturity amount on your RD depends on various factors like the RD deposit amount, rate of interest offered by the bank, tenure of the RD, TDS, and other such factors.

    There are many websites that offer Recurring Deposit Calculators. You can use any one of these to calculate the interest you would earn on your recurring deposit.

    FAQs on PNB Recurring Deposit

    1. Can I open a recurring deposit online through my netbanking?

      Yes. If you are an existing PNB account holder, you can use your internet banking credentials to access your netbanking and open an e-RD account. However, please note that you should at least have one transaction that is mapped with your internet banking username to open an e-RD.

    2. What is the minimum and the maximum tenure for RD accounts opened online?

      If you are opening an e-RD, the minimum tenure is 12 months and the maximum can go up to 120 months.

    3. How is the maturity amount on my RD account calculated?

      There many factors like the installment amount, tenure of the RD, interest rate, and type of account that decides the maturity amount on your RD. However, after calculating, the maturity amount is rounded off to the nearest Rupee and will become payable maturity date.

    4. What type of account should I have to open an RD account?

      You can open an RD account with a savings account, current account, or OD account. The only rule is that the account should not be in stopped, locked, or dormant status while you are opening an RD account.

    5. Can I open a recurring deposit account on a different name that is not as same as the name of the debiting account from which the RD deposit is taken?

      No. You will not be allowed to open a recurring deposit account on a different name that is not as same as the name of the debiting account from which the RD deposit is taken. You may visit a PNB branch to get this done.

    6. Will I be allowed to add nominees to my RD account?

      Yes. While opening an RD account online, you will be asked to provide your nominee details.

    7. Are there any timings that I need to follow when I open a RD account online?

      Yes. If you open an RD account online between 8 AM IST to 8 PM IST, the request will be honored on the same day. Any requests out of these hours will be pushed to the next working day.

    8. I want to cancel the standing instructions that I set on my e-RD. How do I do it?

      Please login to your netbanking and navigate to the “Request” option. Under this option, please click on “Standing Instruction Link”. You will be allowed to view or cancel your standing instructions under this link.

    9. Is it mandatory for me to setup standing instruction on my RD?

      To open an e-RD account, you will be asked to make a payment online. However, once the account is open, you can pay your RD installments at a branch or online instead of setting up standing instructions.

    10. Can I close my RD account online?

      If you have opened an e-RD online, you will have an option called “Close Account” under e-RD when you log in to your netbanking. However, RDs that are not created online cannot be closed using this option.

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    News About Punjab National Bank Recurring Deposit

    • PNB Cuts Savings Account Interest Rate By 50 Basis Points

      Punjab National Bank (PNB), a public-sector lender, cuts savings account interest rate by 0.5%. HDFC Bank, Yes Bank, SBI, Karnataka Bank, Bank of Baroda, Indian Bank and Axis Bank are the other leading banks to announce a cut in savings account interest rate as the RBI has lowered its repo rate recently.

      As per PNB sources, the bank cuts interest rate on fixed deposit (FD) up to Rs 1 crore by 15-40 basis points and interest rate on savings bank account (SB Account) up to Rs 50 lakh by 3.50% respectively.

      29 August 2017

    • PNB Revises Rates for Recurring Deposits

      Recurring Deposit rates offered by PNB were revised recently. At present, for a tenure of 180 days to 270 days and 271 days to less than a year, the rate of interest on PNB recurring deposits stand at 6.50%. Senior citizens can avail an interest rate of 7% for the same tenures. For tenures of 1 year, above 1 year to 2 years and above 2 years to 5 years, the RD rate stands at 6.80%. The senior citizens can avail an interest rate of 7.40% for a tenure of 1 years. In case of tenures above 1 year to 2 years and above 2 years to 5 years, the interest rate that can be availed by the senior citizens with PNB recurring deposits is 7.30%. The recurring deposit interest rate for above 5 years to 10 years remains unchanged for both regular citizens and senior citizens.

      4 May 2017

    • 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.

      1 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.

      22 April 2016

    Recurring Deposit - Sitemap

    PNB RD Rates Reviews

  • Page 1 of 1
    • Punjab National Bank Recurring Deposit
      "Easy process"
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      When I opened my recurring deposit for the first time with PNB, I had to visit the bank and complete my process. It was simple and easy and the rate of interest is good. After which I been doing it online and there are no charges related to this account.
      Was this review helpful? 12
      , new delhi
      Reviewed on Dec 15, 2016
    • Punjab National Bank Recurring Deposit
      "Good rates. "
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      Punjab national bank is providing good recurring deposit installments. It is the flexi RD I have taken through them. The interest rate is very good and I maintained it for a year and at present I closed. Returns are too good and PNB is the best bank one could open their RD.
      Was this review helpful? 11
      , panipat
      Reviewed on Jun 11, 2016
    • Punjab National Bank Recurring Deposit
      "best rate offered "
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      Fair service was rendered by PNB related to the recurring deposit services.They are good in interest rates applied related to the recurring deposit.In case of online upgrades made to the customer I am very comfortable in punjab national services provided.
      Was this review helpful? 8
      , patna
      Reviewed on May 23, 2016
    • Punjab National Bank Recurring Deposit
      "Very good"
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      On the recurring despot PNB is giving 7.5% interest for the minimum lock in period of 6 months. We need to pay any extra charges. The minimum amount to activate the plan is Rs.100. There is no penalty if we withdraw the amount any time.
      Was this review helpful? 3
      , faridabad
      Reviewed on Mar 18, 2016
    • Punjab National Bank Recurring Deposit
      "Good to a certain extent"
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      PNB RD is some what good. However the interest rate keeps fluctuating every now and then. I have opted for a lower interest rate its varies from year to year. I dont have much idea about tit the reason why I had opened this is because tis close to my premises so I had invested here.
      Was this review helpful? 4
      , dehradun
      Reviewed on Nov 11, 2015
    • Punjab National Bank Recurring Deposit
      "Awesome..."
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      I guess the interest rate in Punjab National bank is around 9% for recurring deposit and I availed it for the period of 5 years. Some of my friends suggested to open RD from this bank. The deposit was opened in a short time when I visited their branch. Next to my application, I got the bond copies in four days.
      Was this review helpful? 4
      , jamshedpur
      Reviewed on Sep 29, 2015
    • Punjab National Bank Recurring Deposit
      "High rate for RD...."
      PUNJAB NATIONAL BANK
      0.5 3.0/5 "Satisfactory"
      Branches are wide in cities so it is easy to deal and interest rate for recurring deposit is 9.25% as I opened this five year ago. Absolutely the interest rate is compounding type and it gets accumulate in interval of three months. Punjab National bank need to improve on customer relationship as they lacks there.
      Was this review helpful? 3
      , panipat
      Reviewed on Aug 07, 2015
    • Punjab National Bank Recurring Deposit
      "Good..."
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      I have linked my salary account with this recurring deposit so every month the Punjab National Bank is taking the amount directly. I have no idea about interest rate but it is similar to other banks. So far I never tried calling the customer service as for everything I visit the branch and they are very good in servicing. Normally I put RD for one year and I convert that in to FD in the same bank.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 06, 2015
    • Punjab National Bank Recurring Deposit
      "Very good"
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      I have an Recurring deposit plan from Punjab national bank for the tenure of 5 years for which the interest rate offered is nearly 9%. In case if we extend the tenure the interest rate will also be increased. We can also break the plan in between the tenure period there will be no any extra charges and we can complete our process of the RD through online itself.The only thing is that the response from the bank is not so good.
      Was this review helpful? 4
      , satna
      Reviewed on Jul 22, 2015
    • Punjab National Bank Recurring Deposit
      "One should hold RD with PNB"
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      Highly secured and its utmost satisfaction. PNB customer service is the best, interest rate offered them is good and it provides excellent benefits. This Recurring deposit was taken because of my father as he was working there . He recommend this one and the funds get transferred from my savings account automatically. To conclude one should hold RD with PNB.
      Was this review helpful? 5
      , pune
      Reviewed on Nov 15, 2014
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