PNB NRI FD Rates

• NRE FD Rates

Note: The above-mentioned interest rates are applicable w.e.f. December 1st, 2019 on deposits less than Rs. 2 crore. Also, no preferential rates are available for senior citizens.

• NRO FD Rates

Note: The above-mentioned interest rates are applicable w.e.f. December 1st, 2019 on deposits less than Rs. 2 crore.

• PNB Bank FCNR FD Rates

Note: The aforementioned PNB FCNR fixed deposit rates are applicable to RFC deposit accounts too.

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:

1. NRE FD Account

2. NRO FD Account

3. FCNR (B) FD Account

Apart from the aforesaid deposit options dealing in foreign currency, there is a 4^th 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:

• Tenure of 1 month to 5 years
• Interest earned is taxable in India
• To park pension or other monetary benefits from the applicant’s employer outside India

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:

• There is a penalty of 0.5% levied on premature withdrawals of NRE term deposits
• If the deposits are withdrawn before 1 year from the date of contract, the bank shall not pay any interest on the same

• NRI customers can apply for loan against FD if need arises. This way they can avoid breaking their fixed deposits prematurely to cope cash crunch.
• Such loans can be taken by NRI depositors as well as by 3^rd party too
• Loans in foreign currency can be availed against NRE fixed deposits

The following list of documents must be kept ready when applying for NRI FD schemes with PNB:

• Account Opening Form (properly filled & duly signed)
• KYC Form or Customer Master Form
• Passport size photograph(s)
• PAN Card
• Valid visa
• Passport copy
• Residence proof
• A set of specimen signatures of all the A/c holders in a separate sheet of paper

Note: This is not an exhaustive list.

Following the steps mentioned further to open an NRI account with the Punjab National Bank:

• Download the Account Opening Form available on the official website of PNB
• Or write a mail to ebaydelhiaof@pnb.co.in requesting for an Account Opening Form
• Fill the form properly and sign the same
• Attach all the required documents state in the previous section
• Also mention the desired branch name of PNB where account is to be opened
• Attach initial foreign remittance to open the account (Demand draft in INR or foreign currency, Wire transfer or travelers cheque)
• Send all the documents to the following address :

E Bay (NRI Cell)

Punjab National Bank

2^nd 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.