Punjab National Bank or PNB, along with personal banking, extends its banking services to Non-Resident Indians or NRIs too. Here we shall talk about the fixed deposit options available to NRI customers of PNB. When knowing about the features and benefits that customers can benefit from, it is also imperative to be known to the prevailing PNB NRI FD rates so as to ascertain the returns one should expect on investing their savings in any of the fixed deposit options available.
Table of Contents
| 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 effecgtive w.e.f. 1st July 2020 and are applicable to deposits less than Rs. 2 crore. No preferential rates offered to senior citizens.
Tenure | PNB NRO 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 w.e.f. 1st July 2020 on deposits less than Rs. 2 crore.
| 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 | 1.25 | 1.24 | 1.26 | 1.29 | 1.36 |
| GBP | 0.59 | 0.61 | 0.64 | 0.69 | 0.73 |
| EUR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| JPY | 0.28 | 0.28 | 0.28 | 0.29 | 0.30 |
| CAD | 1.28 | 1.06 | 1.13 | 1.22 | 1.29 |
| AUD | 0.92 | 0.92 | 0.96 | 1.07 | 1.16 |
Note: The aforementioned PNB FCNR fixed deposit rates are applicable to RFC deposit accounts too. Effective from 1st September 2020.
There are different types of fixed deposit options available to Non-resident Indian customers of Punjab National Bank. These accounts are detailed in the tabular form below:
| Particulars | Details |
| Tenure | 1 – 10 years |
| Eligibility | NRI and/or PIO (Persons of Indian Origin) |
| Taxability | Not taxable in India |
| Loan against FD | Available |
| Premature Withdrawal | Allowed; 0.5% penalty |
| Features |
|
| Particulars | Details |
| Tenure | 7 days – 10 years |
| Eligibility | NRIs (other than nationals of Pakistan & Bangladesh) and OCB (Overseas Corporate Bodies) |
| Taxability | Taxable in India |
| Features |
|
| Particulars | Details |
| Tenure | 1 – 5 years |
| Eligibility | Non-Resident Indians |
| Taxability | Not taxable in India (wealth tax also not applicable) |
| Loan against FD | Available |
| Features |
|
Apart from the aforesaid deposit options dealing in foreign currency, there is a 4th type of term deposit available, viz. Resident Foreign Currency or RFC Fixed Deposit Account. This account is for residents of India who have foreign earnings and who wish to park such earnings in India. Returning Indians can also make use of this option. Important aspects of this account are:
Premature withdrawal or closure of fixed deposit account is permitted to the NRI customers of the Punjab National Bank. Important aspects w.r.t to the same are:
The following list of documents must be kept ready when applying for NRI FD schemes with PNB:
Note: This is not an exhaustive list.
Following the steps mentioned further to open an NRI account with the Punjab National Bank:
E Bay (NRI Cell)
Punjab National Bank
2nd floor, Community Centre
Safdarjung Enclave, Near Old Kamal Cinema
Nauroji Nagar, New-Delhi-110029
Ph-011-26165160, 011-26165429
Email ID: ebaydelhiaof@pnb.co.in
Q. Can PNB NRI account be opened jointly?
A. Yes. NRI account with PNB can be opened with up to 4 account holders.
Q. Is there any penalty on premature withdrawal of NRI fixed deposit?
A. Yes, there is a penalty of 0.5% levied. This means that the interest shall be paid on deduction 0.5% from the rate of interest on premature closure of FD.
Q. How to contact PNB via call?
A. Customers can call on the toll free number 18001802222 or paid number 0120-2490000.
