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PNB Swechha Jama Yojna/Flexi RD Scheme

Punjab National Bank offers a deposit scheme that allows customers to save money with great flexibility on the deposit amount. Customers can choose a core deposit amount which is subject to a minimum of Rs. 100. Deposit amounts can then be increased in the subsequent months up to 10 times the core amount. There is no ceiling limit on the maximum deposit amount. This allows depositors to save more money through this scheme when they receive extra funds.

PNB Swechha Jama Yojna Interest

Interest rates granted on the Swechha Jama Yojana Deposit is the same as applicable on term deposits. Senior Citizens are entitled to an additional rate of 0.50% above the regular interest rates for deposits of less than Rs. 1 crore. Staff members and retired staff will get 1.00% additional interest. Senior citizens who are retired staff members are entitled to 1.50% additional interest.

Tenure Interest rate of general public (p.a.) Interest rate of senior citizens (p.a.)

180 days to 270 days



271 days to less than 1 year



1 year to 2 years



Above 2 years to 5 years



Above 5 years to 10 years



PNB Swechha Jama Yojna Eligibility

  • Individuals can apply, singly or jointly.

  • Firms, associations, clubs, educational institutions, trusts, Co-operative societies, Municipal Corporations, Panchayat, Government and quasi-Government bodies, religious and charitable institutions, HUFs and Corporates are eligible to apply.

  • Minors are eligible to apply.

  • Minors below the age of 10 can open an accounts under the guardianship of the legal or natural guardian.

  • Minors who are 10 years and above can open an account in their own name. Proof of age is required.

PNB Swechha Jama Yojna Documents Required

  • Two recent photographs

  • PAN or General Index Register (GIR) number.

  • Alternative documents that can be submitted are Form 60 or 61 as per the Income Tax Act.

  • Bank needs satisfactory identification of the person opening the account.

Features and Benefits

Deposit Limits

The deposit can be opened with a minimum of Rs.100, and in multiples of 100 thereof. This will become your core amount. You can then deposit up to 10 times of your core amount in any of the subsequent monthly instalments.


The minimum tenure is 6 months. This Flexi Deposit Scheme can be opened for a maximum of 120 months.

Premature Withdrawal

PNB allows premature withdrawal of the Swechha Jama Yojna Scheme.

No penalties

In case you miss the payment in a month, or your payment is late, PNB does not levy any penalty charges.


There is no tax deducted at source on this deposit. Interest earned on this deposit is exempt from income tax as specified by the income tax authorities.

Loan Facility

Loan and overdrafts are allowed against the Flexi Deposit.


Interest rates as applicable on term deposits will be paid. The interest is compounded on a half-yearly basis.

FAQ’s on PNB Swechha Jama Yojna/Flexi RD Scheme

  1. How is interest calculated on this RD scheme?

    Ans: Interest is compounded on a half-yearly basis at the interest rate applicable to term deposits.

  2. Is there any penalty for late payment of monthly instalments?

    Ans: No, Punjab National Bank does not levy any penalty charges for missed or late payment.

  3. What is the maximum deposit amount?

    Ans: There is no stipulated maximum deposit amount on the Swechha Jama Yojna Scheme. The maximum amount will depend on your chosen core amount. If you have chosen Rs. 100 as your core amount, then you can deposit only up to a maximum of Rs. 1,000 for any monthly instalments.

  4. Can I offer my deposit as security for a loan?

    Ans: There is a loan and overdraft facility against this deposit available from Punjab National Bank.

  5. Can I close this deposit before maturity date?

    Ans: Yes, you are allowed to close the deposit prematurely.

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