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  • Punjab National Bank Recurring Deposit

     4.5 / 5.0   by 13 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Overview of Punjab National Bank

    Nationalised in 1969, Punjab National Bank has established its presence all across the world, serving more than 8.9 crore valued customers. The bank has 6076 branches in India, 5 branches in other countries and 6940 ATMs. Punjab National Bank has a large franchise value, strong fundamentals and great brand image. It provides several offers and products to meet the growing financial needs of its customers.

    Recurring Deposits (RD) from Punjab National Bank

    Punjab National Bank Recurring Deposits allow you to enjoy attractive rates of interest at the cost of investing smaller savings amount. PNB RD is a kind of deposit where you can deposit a certain amount every month over a fixed period.

    Features and Benefits of PNB recurring deposit

    Punjab National Bank offers several features and benefits to their customers with recurring deposits.

    • Enjoy both individual Recurring Deposit account and joint Recurring Deposit account
    • Individuals above age ten can open a PNB Recurring Deposit account by providing age proof
    • Individuals below age ten can open an RD account if it is authorized
    • Corporate firms, commercial organizations, proprietorship firms can have Recurring Deposit accounts with Punjab National Bank.
    • All Hindu Undivided Families can enjoy the benefits of PNB Recurring Deposit accounts.
    • Religious or charitable trusts, associations, clubs and societies can maintain Punjab National Bank RD accounts.
    • Panchayats, municipalities, government and quasi government bodies can have RD accounts with PNB.

    Interest rates offered by Punjab National Bank’s Recurring Deposit

    The maturity period or the deposit period plays a crucial part in determining the interest rates. The rate of interest also depends on the amount in the account at that time. For deposit amount of INR 1 crore, the interest rate varies from 7.75 per cent to 8.25 percent. But for senior citizens, it varies from 8.25 percent to 8.75 per cent. For a deposit amount between INR 1 crore to INR 10 crore, the interest rates range from 7.75 percent to 8 percent.

    Terms and Condition for Punjab National Bank’s Recurring Deposit

    • The period of Recurring Deposit can vary from six months to ten years
    • Customers may avail premature withdrawal of their recurring deposit
    • TDS is not applicable
    • Overdrafts and loans are allowed against deposits
    • Overdue deposit interest depends on the prevalent bank policies
    • The interest accumulated on your recurring deposit is exempted from income tax to a certain limit as indicated by the IT department

    Process for opening a Recurring Deposit account with Punjab National

    At Punjab National Bank, you require a recommendation letter from a respectable person approved by the bank. The Recurring Deposit account holder must provide two recent photographs, as directions given by Reserve Bank of India. Punjab National Bank also requires your Permanent Account Number (Pan) or General Index Register (GIR) Number to activate an RD account.

    Penalty clause

    In the event of premature cancellation of recurring deposits, 1 percent penalty will be charged as per bank norms. Penalty will also be applicable Recurring Deposit account is irregular or discontinued.

    Know the Current Recurring Deposit Rates:

    Punjab National Bank RD Schemes:

    News About Punjab National Bank Recurring Deposit

    • PNB designs special schemes for the Indian defence personnel

      Punjab National Bank has taken a commendable step towards offering defence personnel special schemes. The bank tied up with the Indian Navy and the Indian Army providing salary accounts to serving forces and the pensioners. They can also book lockers online through the PNB website. In addition, the bank is providing a recurring deposit scheme that has been specially designed to help the Indian defence save for the future. Besides PNB, the State Bank of India also offers similar schemes to Army personnel.

      11th November 2015

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    Punjab National Bank RD Reviews

  • Page 1 of 1
    • Punjab National Bank Recurring Deposit
      "Satisfactory Service"
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      I had opened Recurring Deposit with Punjab National Bank. The loan amount is thirty five thousand and the tenure period is for one year. Every month I regularly depositing the money on a monthly basis. The customer service is quite satisfactory and there is no constrains with the bank on my FD. I am very much satisfied with PNB.
      Was this review helpful? 8
      , indore
      Reviewed on May 04, 2017
    • 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
      "Very Helpful Staff"
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      I hold saving account with Punjab National Bank. These days too much crowd in banks . But PNB staff was very helpfully . Very fast process . Thanks all guys. Specially thanks Ms Komal meena and Branch Manager. Today the branch was very much crowded but it was okay.
      Was this review helpful? 7
      , jaipur
      Reviewed on Nov 22, 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? 7
      , 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
      "Fantastic"
      PUNJAB NATIONAL BANK
      0.5 5.0/5 "Blown Away!"
      Since I am holding my savings account with PNB I opened a Recurring Deposit account in the year 2011. Basically the amount will be deducted directly from my account. There is no certain fees and charges to open this account with them. I never faced any issues with the bank so far.
      Was this review helpful? 2
      , ghaziabad
      Reviewed on Sep 14, 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? 2
      , 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? 4
      , pune
      Reviewed on Nov 15, 2014
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