Punjab National Bank or PNB provides a bunch of FD schemes to suit the varying needs of its customers. These schemes are classified based on factors like tenure, deposit amount, etc. The bank also provides a special fixed deposit scheme to provide financial aid to road accident victims. With security provided by the bank along with auxiliary services like premature withdrawal and overdraft facility, PNB FD rates provide investors with decent returns on their savings.
Table of Contents
| Tenure | PNB FD Interest Rates (p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 to 14 days | 3.00% | 3.75% |
| 15 to 29 days | 3.00% | 3.75% |
| 30 to 45 days | 3.00% | 3.75% |
| 46 to 90 days | 3.25% | 4.00% |
| 91 to 179 days | 4.00% | 4.75% |
| 180 days to 270 Days | 4.40% | 5.15% |
| 271 days to less than 1 year | 4.50% | 5.25% |
| 333 Days | 4.50% | 5.25% |
| 1 year | 5.25% | 6.00% |
| 444 days | 5.25% | 6.00% |
| 555 days | 5.25% | 6.00% |
| Above 1 year and up to 2 years | 5.25% | 6.00% |
| Above 2 years and up to 3 years | 5.25% | 6.00% |
| Above 3 years and up to 5 years | 5.30% | 6.05% |
| Above 5 years and up to 10 years | 5.30% | 6.05% |
Note: The above-mentioned interest rates are applicable to w.e.f. 1st July 2020 on deposits less than Rs. 2 crores.
| Tenure | PNB FD Interest Rates (p.a.) |
| Regular Citizens | |
| 7 to 14 days | 3.00% |
| 15 to 29 days | 3.00% |
| 30 to 45 days | 3.00% |
| 46 to 90 days | 3.00% |
| 91 to 179 days | 3.25% |
| 180 days to 270 Days | 3.25% |
| 271 days to less than 1 year | 3.25% |
| 333 Days | 3.35% |
| 1 year | 3.50% |
| 444 days | 3.50% |
| 555 days | 3.50% |
| Above 1 year and up to 2 years | 3.50% |
| Above 2 years and up to 3 years | 3.50% |
| Above 3 years and up to 5 years | 3.50% |
| Above 5 years and up to 10 years | 3.50% |
Note: The above mentioned Punjab National Bank FD rates apply to bulk deposits worth Rs. 2 crores to Rs. 10 crores. Also, no preferential rates are provided to senior citizens when making bulk deposits. (Data as on 1st July 2020)
| Tenure | PNB Tax Saver Fixed Deposit Rates | |||
| For General Public | For Senior Citizens | For Staff Members | For Retired Staff Members | |
| 5 years | 5.30% | 5.80% | 6.30% | 6.30% |
| Above 5 years to 10 years | 5.30% | 5.80% | 6.30% | 6.30% |
(Data as on 1st July 2020)
For deposits maturing in 7 days to 14 days, the bank offers FD rates at 3.00% and 3.75% for general public and senior citizens, respectively. For deposits maturing in 46 days to 90 days, the rates rise to 3.25% and 4.00% for the general public and senior citizens, respectively. For deposits maturing in 180 days to 270 days, PNB offers 4.40% for the general public and 5.15% for senior citizens.
For 1 year, PNB fixed deposit rates are currently set at 5.25% (6.00% for senior citizens). For deposits maturing in above 3 years till 5 years, FD rates are offered at 5.30% for the general public and 6.05% for senior citizens.
These FD interest rates rise to 5.30% for a period of more than 5 years to 10 years. There is an additional 0.75% offered to senior citizens.
These rates are applicable to deposits below Rs. 2 crores.
| Tenure | PNB NRE FD Interest Rates (p.a.) |
| Regular Citizens | |
| 1 year | 5.25% |
| 444 days | 5.25% |
| 555 days | 5.25% |
| Above 1 year and up to 2 years | 5.25% |
| Above 2 years and up to 3 years | 5.25% |
| Above 3 years and up to 5 years | 5.30% |
| Above 5 years and up to 10 years | 5.30% |
Note: The above-mentioned interest rates are applicable to w.e.f. 1st July 2020 on deposits less than Rs. 2 crores. Also, no preferential rates are available for senior citizens.
| Currency | Tenure/Rate of Interest (% p.a.) | ||||
| 1 year < 2 years | 2 years < 3 years | 3 years < 4 years | 4 years < 5 years | 5 years only | |
| USD | 1.30 | 1.27 | 1.29 | 1.33 | 1.38 |
| GBP | 0.70 | 0.77 | 0.76 | 0.77 | 0.80 |
| EUR | 0.08 | 0.01 | 0 | 0.01 | 0.03 |
| JPY | 0.31 | 0.28 | 0.27 | 0.26 | 0.26 |
| CAD | 1.35 | 1.09 | 1.15 | 1.22 | 1.28 |
| AUD | 0.93 | 0.99 | 1.04 | 1.15 | 1.23 |
Read more about : Types of PNB NRI FD Accounts
The Punjab National Bank provides a diverse bunch of fixed deposit schemes to accommodate needs of all domestic customers looking for a safe investment option to park their savings. Major features and benefits to be accrued from these fixed deposit schemes are stated below:
The following fixed deposit schemes are provided by the bank:
|
Read more about : PNB Fixed Deposit Schemes
To save tax, you can opt for PNB Tax Saver FD Scheme. Your money (minimum Rs. 100) will be locked for 5 years minimum. The amount invested in this FD can be claimed for deductions u/s 80C of the Income Tax Act, 1961. You can save up to Rs. 1.5 lakh by investing in this scheme.
For bulk deposits above Rs. 15 lakh – Rs. 10 crores, PNB Uttam – Non-Callable Deposit Scheme can be chosen. Higher interest rates will be offered.
If you’re looking to save for the education of a girl child, then PNB Balika Shiksha FD Scheme will suit your goals. It comes with a minimum deposit of Rs. 3,000. This can be taken only if the girl child is enrolled in 9th class of a State of Govt. school. She will be the beneficiary and will be able to withdraw money from this FD on attaining 18 years of age.
Capital Gain Account Scheme will be helpful to you if you wish to save tax on your capital gains (proceeds from property, stocks, etc.). This FD cannot be opened jointly.
PNB FD Calculator is an online free tool available at Paisabazaar.com which can be used to determine the maturity amount that an investor should expect from fixed deposit schemes by Punjab National Bank. Mere details like amount to be deposited and tenure is required along with the prevailing PNB FD rates.
Please note that the amount calculated is only an estimate figure and should not be treated as the absolute amount.
Read more about : How to use PNB FD Calculator?
Customers are allowed to withdraw from their term deposits before completion of the deposit period. This facility is extended to most of the FD schemes by PNB except a few like the tax-saving fixed deposit scheme and Sugam Plus & PNB Uttam – 444 Deposit Scheme. Following aspects about premature withdrawal are noteworthy:
Investors can apply for a loan against FD in any of the branches of PNB. For this lien must be noted and signature is verified by the branch where FD is placed originally. Such loans can be taken against domestic term deposits as well as NRE deposits.
The loan can be applied as per the margins provided below:
| Maturity Period Remaining at the time of loan application | Percentage of loan that can be taken against the deposit amount |
| Up to 2 years | 95% |
| Above 2 years & up to 3 years | 92.5% |
| Above 3 years & up to 4 years | 90% |
| Above 4 years & up to 5 years | 88% |
| Above 5 years | 80% |
| Loan against 3rd party deposits | 75% |
| Maturity Period Remaining at the time of loan application | Percentage of loan that can be taken against the deposit amount |
| Up to 1 year | 90% |
| Above 1 year & up to 2 years | 80% |
| Above 2 years | 70% |
| Loan against 3rd party deposits | |
| Up to 2 years | 80% |
| Above 2 years | 70% |
Read more about : Punjab National Bank Loan against FD
Domestic fixed deposits made with Punjab National Bank account to taxation as per the rules set under the Income Tax Act, 1961. The following are the important points to be considered:
Eligibility Criteria
Domestic fixed deposit schemes by Punjab National Bank can be applied by residents of India. These can be individuals, Hindu Undivided Families, Institutions, Public Sector Undertakings (PSUs), Corporate Bodies, etc.
Documents Required to Apply for PNB FD Schemes
The following list of documents should be checked when applying for any of the above-stated fixed deposits schemes by PNB:
Note: This is only an indicative list and should not be treated as an exhaustive one.
Q. What are the prevailing FD rates of PNB?
A. Currently, customers can earn up to 5.25% interest for deposits below Rs. 2 crores for 1 year to 2 years tenure and 5.30% interest for more than 5 years to 10 years option.
Q. Are premature withdrawals allowed under NRE/NRO/FCNR deposits?
A. Yes. Facility to prematurely withdraw deposits is available for NRE/NRO/FCNR deposits. Click here to check the details for the same.
Q. Does PNB provide additional FD rates to senior citizens?
A. Yes. Additional fixed deposit interest rates are applicable to @0.5% over the normal card rates.
Q. Who can open a regular PNB FD scheme?
A. All resident individuals, HUFs, sole proprietorship or partnership firms, corporate organizations, NRIs, etc. are eligible to avail the benefits of PNB fixed deposit schemes.
Q. Is it necessary to provide PAN card when applying for an FD scheme?
A. Yes. On non-submission of PAN, the following implications have to be borne by the investor:
| PNB slices its FD rates; lower returns for investors |
| 01st October 2019 Punjab National Bank (PNB), a public sector lender, has slashed down its fixed deposit rates. The rates have been cut down from 10 bps to 25 bps on maturity periods ranging from 271 days to 10 years. There is no change in the PNB FD rates for tenure ranging from 7 days to 270 days. These changes were made on October 1st, 2019 and shall affect only the new investors. Earlier the bank revised its rates one month before, i.e. October 1st, 2019. |
| Punjab National Bank Revises Fixed Deposit Interest Rates |
| 02nd September 2019 Punjab National Bank has again revised its fixed deposit interest rates with effect from 1st September 2019 across various maturities. The bank is now offering an interest rate of 4.50% for regular individuals and 5.00% for senior citizens on a maturity period of 7-14 days and 15-29 days for fixed deposits up to Rs. 2 crores. Moreover, the bank has lowered its interest rates by 0.25%. |
| PNB Revises Fixed Deposit Interest Rates |
| 01st August 2019 PNB has revised interest rates on certain maturities with effect from 1st August 2019. The bank has also lowered interest rates by up to 0.50 basis points. The bank will provide 5% to regular individuals and 5.50% to senior citizens for a period of 7 to 14 days and 15-29 days. PNB has also increased interest rate to 6.5% to regular individuals and 7% to senior citizens for tenure above 3 years and up to 5 years. Senior Citizens can avail additional 50 bps across all maturities on domestic deposits of less than Rs.2 crore. |
