PNB Fixed Deposit

Public Sector

AA+

DICGC

5.1%

Interest for 3 years

Punjab National Bank FD Interest Rates Sep 2021

Note: All interest rates shown below are as on 22nd Jun 2021

Historical FD Rates →
TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 1 month 15 days3%3.5%
1 month 16 days - 2 months 29 days3.25%3.75%
3 months - 5 months 26 days4%4.5%
5 months 27 days - 8 months 28 days4.4%4.9%
8 months 29 days - 11 months 30 days4.5%5%
1 year - 2 years 11 months 30 days5.1%5.6%
3 years - 9 years 11 months 29 days5.25%5.75%

About Punjab National Bank Fixed Deposit

Punjab National Bank is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance Punjab National Bank, India’s first Swadeshi Bank, commenced its operations on April 12, 1895 from Lahore The bank has a balance sheet size of Rs. 8.3 Lakh Crs as on 31st March 2020 The bank recorded a profit of Rs 336 Crs in FY20

3% - 5.25%

FD Rate

3.5% - 5.75%

FD Rate for Seniors

-

Minimum Deposit

₹ 2 Crores

Maximum Deposit

0 days

Lock-in

-

FD Tenure

-

Loan against FD

AA+

CRISIL Rating

Fixed Deposits

Flexible tenure & partial withdrawal facility, without the hassle of opening a savings account.

Punjab National Bank Fixed Deposit Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 5.25%For 5 years with interest of 5.25%
₹ 50,000₹64972₹64972
₹ 1 lakh₹129943₹129943
₹ 2 lakh₹259886₹259886
₹ 5 lakh₹649716₹649716
₹ 10 lakh₹1299432₹1299432

Compare Punjab National Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs

Pre Tax

Post Tax

Tax Rate
Maturity Amount₹105221₹ 101764
Total Investment Amount₹ 100000₹ 100000
Total Interest Gained₹5221

₹5221

₹ 1764
Income Tax on Wealth Gained₹ 12898₹ 13092

Compare Punjab National Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Dhanlaxmi Bank
5.4% - 5.9%
Tamilnad Mercantile Bank
5.5% - 5.5%
IDBI Bank
5.3% - 5.8%
Bank of India
5.15% - 5.65%
Sundaram Finance
6.25% - 6.75%
AU Small Finance Bank
6.25% - 6.75%
Canara Bank
5.5% - 6%
Axis Bank
5.4% - 5.9%
Mahindra Finance
6.3% - 6.55%
PNB Housing Finance Ltd
6.6% - 6.85%
IDFC First Bank
5.75% - 6.25%
State Bank of India
5.3% - 5.8%
HDFC Bank
5.15% - 5.65%
Bank of Baroda
5.1% - 5.6%
LIC Housing Finance
5.75% - 6%
Tamil Nadu Power Finance
7.75% - 8.25%
Jammu & Kashmir Bank
5.3% - 5.8%
Bajaj Finance
6.5% - 6.75%
Yes Bank
6.25% - 7%
RBL Bank
6.3% - 6.8%
Punjab and Sind Bank
5.3% - 5.8%
Kotak Mahindra Bank
5.1% - 5.6%
IndusInd Bank
6% - 6.5%
Central Bank of India
5% - 5%
DCB Bank
6.5% - 7%
Bandhan Bank
5.25% - 6%
Fincare Small Finance Bank
6.25% - 6.75%
DBS Bank
5.5% - 5.5%
Indian Overseas Bank
5.2% - 5.7%
Karur Vysya Bank
5.5% - 6%
Equitas Small Finance Bank
6.35% - 6.85%
City Union Bank
5.5% - 6%
SCB Bank
5.35% - 5.85%
Karnataka Bank
5.5% - 5.9%
South Indian Bank
5.5% - 6%
HDFC Ltd Fixed Deposit
6.05% - 6.3%
Bank of Maharashtra
4.9% - 5.4%
ICICI Housing Finance Company
6.05% - 6.3%
ESAF Small Finance Bank
5.75% - 6.25%
Indian Bank
5.15% - 5.65%
Shriram Finance
8% - 8.4%
Federal Bank
5.35% - 5.85%
ICICI Bank
5.15% - 5.65%
Ujjivan Small Finance Bank
6.75% - 7.25%
Post Office
5.5% - 5.5%
Union Bank of India
5.4% - 5.4%

Calculate Punjab National Bank Fixed Deposit Returns

₹ 100000

Total Investment

₹5221

Wealth Gained

₹5221

Wealth Gained

₹105221

Maturity Amount

How to invest in Punjab National Bank Fixed Deposit?

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Punjab National Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. Also, the interest rate on PNB FDs is higher in their savings account. One can invest in PNB FDs through both online and offline modes with just a minimum investment of INR 100. This article covers PNB FD, its features and interest rates in detail.

PNB Bank Fixed deposit schemes

Following are the types of PNB Bank fixed deposit schemes:

  • Sugam Plus – 333 Deposit Scheme
  • PNB Sugam Plus and PNB Uttam – 444 Deposit Scheme
  • Sugam Plus – 555 Deposit Scheme
  • FD Scheme for Road Accident Victims
  • Anupam Term Deposit Scheme
  • Multi Capital Gain Account Scheme
  • Multi-Benefit Term Deposit Scheme
  • Special Term Deposit Scheme
  • Sugam Term Deposit Scheme
  • Ordinary Term Deposit Scheme
  • Varshik Aay Yojana (VAY) Deposit Scheme
  • PNB Tax Saver Fixed Deposit Scheme
  • Pranam Fixed Deposit Scheme
  • Floating Rate Fixed Deposit Scheme
  • Bulk Fixed Deposit Scheme (ABOVE Rs.10 CRORE)
  • Uttam Term Deposit Scheme 555 days
  • Uttam Plus Triple OneTwoThree Deposit Scheme
  • Growth Fixed Deposit Scheme
  • NRE Rupee Sugam Term Deposit Scheme
  • NRO Sugam Term Deposit Scheme

PNB Sugam Plus – 333 Deposit Scheme

  • Tenure: 333 days
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: INR 10 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme.
  • Premature withdrawal: Allowed, however, with a penalty of 1%
  • Eligibility: Individuals, minors, HUF, partnership firms, companies, and also other associations can open an account. However, NREs are not allowed to invest in this scheme.

PNB Sugam Plus and PNB Uttam – 444 Deposit Scheme

  • Tenure: 444 days
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: INR 10 Cr
  • Premature withdrawal: Not allowed
  • Eligibility: Individuals, minors, HUF, partnership firms, companies, and also other associations can open an account.

PNB Sugam Plus – 555 Deposit Scheme

  • Tenure: 555 days
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: INR 10 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme.
  • Premature withdrawal: Allowed, however, with a penalty of 1%
  • Eligibility: Individuals, minors, HUF, partnership firms, companies, and also other associations can open an account.

FD Scheme for Road Accident Victims

  • Purpose: To facilitate the claimants of victims of road accidents to invest the funds from Motor Tribunal under the maximum interest category of FD.
  • Tenure: 1 year to 10 years
  • Interest: Paid monthly at a discounted rate. Also, interest will be 1% above the CARD rate as applicable for normal Fixed Deposit schemes.
  • Loan: Depositors cannot obtain a loan against their fixed deposit scheme.
  • Premature withdrawal: Not allowed
  • Eligibility: Individuals and also minors

PNB Anupam Term Deposit Scheme

  • Tenure: 6 months to 120 months
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: INR 1.99 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme.
  • Eligibility: Individuals, partnership firms, companies, and also other associations. However, minor, blind and illiterate persons are not allowed to invest in this scheme.

PNB Capital Gain Account Scheme

  • Purpose: Individuals can credit their capital gains into this account.
  • Tenure: 7 days to 10 years
  • Premature withdrawal: Allowed, however with a penalty

PNB Multi-Benefit Term Deposit Scheme

  • Tenure: 6 months to 120 months
  • Interest: Compounded quarterly and paid at maturity.
  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1.99 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme only if the deposit amount is above INR 10,000.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Special Term Deposit Scheme

  • Tenure: 1-10 years
  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1.99 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme only if the deposit amount is above INR 10,000.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Sugam Term Deposit Scheme

  • Tenure: 46 days to 120 months
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: INR 10 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme only if the deposit amount is above INR 10,000.
  • Premature withdrawal: Partial withdrawal of a minimum amount of INR 10,000 is allowed. No penalty on partial and full withdrawal before the term ends.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Ordinary Term Deposit Scheme

  • Tenure: 7 days to 179 days
  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1.99 Cr
  • Loan: Depositors can obtain a loan against their fixed deposit scheme only if the deposit amount is above INR 10,000.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Varshik Aay Yojana (VAY) Deposit Scheme

  • Tenure: Depositors can open VAY Deposit schemes for 24, 36, 48, 60, 72, 84, 96, 108, and 120 months.
  • Minimum Deposit Amount: INR 10,000, and in multiples of INR 1,000 thereafter.
  • Maximum Deposit Amount: INR 1.99 crore
  • Loan and Overdraft: For deposits above INR 10,000, depositors can avail loan and overdraft facility against their deposits in Varshik Aay Yojana.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Tax Saver Fixed Deposit Scheme

  • Tenure: The Tax saver fixed deposit scheme has a lock-in period of 5 years. However, the scheme can be extended up to ten years.
  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1,50,000 per financial year.
  • Loan: Depositors cannot obtain a loan against their tax saver fixed deposit scheme.
  • Premature withdrawal: Not allowed
  • Tax: Deposits in the Tax Saver Fixed Deposit Scheme are eligible for tax exemption under Section 80C of the Income Tax Act.
  • Eligibility: Individuals and also HUFs.

PNB Pranam Fixed Deposit Scheme

  • Tenure: The deposit tenure ranges between 1 year to 10 years.
  • Minimum Deposit Amount: INR 100, and in multiples of INR 1 thereafter.
  • Maximum Deposit Amount: INR 1.99 crore
  • Loan: For deposits above INR 10,000, the scheme allows a loan facility.
  • Premature withdrawal: The bank allows premature withdrawals, however, there is no penalty if the depositor attains Senior Citizen status.
  • Eligibility: Individuals of the age of 55 and above can open the Pranam Fixed Deposit Scheme.

PNB Floating Rate Fixed Deposit Scheme

  • Tenure: The deposit tenure ranges between 7 days to 10 years.
  • Minimum Deposit Amount: INR 1,000, and in multiples after that. Also, it is mandatory for FDRs above INR 10 crore to get approval from the Treasury Division, HO.
  • Loan and Overdraft: Depositors can avail loan and overdraft facility against their deposits in the Floating Rate Fixed Deposit Scheme. However, for deposits above INR 10,000, the scheme allows an overdraft facility.
  • Premature withdrawal: The bank allows premature withdrawals, however, with a penalty.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Bulk Fixed Deposit Scheme (Above Rs.10 crore)

  • Tenure: The deposit tenure ranges between 7 days to 120 months for the Maturity Option. For the Income option, the tenure ranges between 6 months to 120 months.
  • Minimum Deposit Amount: INR 10 crore, and in multiples after that.
  • Loan and Overdraft: Depositors can get loans and overdraft facility against their deposits.
  • Premature withdrawal: The bank doesn’t allow premature withdrawals. Also, the bank doesn’t provide an auto-renewal option.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Uttam Term Deposit Scheme 555 days

  • Tenure: 555 days
  • Minimum Deposit Amount: INR 15 lakhs, and in multiples of INR 1,000 after that.
  • Maximum Deposit Amount: INR 10 crore
  • Premature withdrawal/closure: Not available
  • Renewal: The default renewal period is 12 months.
  • Eligibility: Individuals, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality and minors can also open the account.

PNB Uttam Plus Triple One Two Three Deposit Scheme

  • Tenure: 333 days
  • Minimum Deposit Amount: INR 15 lakhs, and in multiples of INR 1,000 after that.
  • Maximum Deposit Amount: INR 10 crore
  • Premature withdrawal/closure: Not available
  • Renewal: The default renewal period is 12 months.
  • Eligibility: Individuals, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality and minors can also open the account.

PNB Growth Fixed Deposit Scheme

  • Tenure: The deposit tenure ranges between 7 days to 120 months for the Maturity Option. For the Income option, the tenure ranges between 6 months to 120 months.
  • Minimum Deposit Amount: INR 2 crore, and in multiples of INR 1 after that.
  • Maximum Deposit Amount: INR 10 crore.
  • Loan and Overdraft: Available as per the guidelines by HO: IRMD.
  • Premature withdrawal: Available only in the FD maturity option. 
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB Bulk Fixed Deposit Scheme

  • Tenure: The deposit tenure ranges between 7 days to 120 months for the Maturity Option. For the Income option, the tenure ranges between 6 months to 120 months.
  • Minimum Deposit Amount:
  • A single deposit of above INR.10 crores, and in multiples of INR 1 after that.
  • Interbank Deposit of INR 2 crore & above
  • NRE & NRO Term Deposits of above INR 10 crore
  • FCNR (B) deposit of 1 Mio and above for USD, GBP & EUR currency
  • Loan and Overdraft: Depositors can get loans and also an overdraft facility against their deposits.
  • Premature withdrawal: The bank doesn’t allow premature withdrawals.
  • Eligibility: Individuals, Minors, Firm, Company, Partnership, Proprietorship, HUF, Club Society, Educational institutions, government or quasi-government body, panchayat or municipality, a blind and illiterate person can also open the account.

PNB NRE Rupee Sugam Term Deposit Scheme

  • Tenure: The deposit tenure ranges between one year to 10 years.
  • Minimum Deposit Amount: INR 10,000
  • Maximum Deposit Amount: No limit
  • Premature withdrawal: Available. Also, the depositor can only withdraw in multiples of INR 1,000. However, the scheme will continue to earn interest on the remaining amount.
  • Auto-Renewal: Available, as per depositor’s mandate.
  • Eligibility: NRIs can open the NRE Sugam Term Deposit Scheme, it can be either a single or joint account.

PNB NRO Sugam Term Deposit Scheme

  • Tenure: The deposit tenure ranges between 46 days to 120 months.
  • Minimum Deposit Amount: INR 10,000 and in multiples of INR 1 after that.
  • Maximum Deposit Amount: INR 10 crore
  • Premature withdrawal: Available. Also, the depositor can only withdraw in multiples of INR 1,000.
  • Eligibility: NRIs and POI can open the NRO Sugam Term Deposit Scheme. However, the account can be held jointly with residents or with non-residents.

Key Features of Punjab National Bank Fixed Deposit Schemes

  • Tenure: The tenure of a Punjab National Bank FD ranges from seven days to ten years. One cannot change the tenure of their PNB FD once it has commenced.
  • Minimum and maximum investment: The minimum investment in PNB FD is INR 100. However, there is no limit on the maximum amount of investment in PNB FD.
  • PNB FD rates: PNB FD rates range between 3% and 5.3% for regular citizens and between 3.5% and 5.8% for senior citizens. Moreover, PNB offers an additional 0.5% interest to senior citizens on their FDs. PNB gives the choice of interest payout frequency to the investors, and they can choose from the following – monthly, quarterly, half-yearly, yearly, or at maturity.
  • Premature withdrawal: All PNB bank FDs can be withdrawn prematurely except for the tax-saving FD. Also, Punjab National Bank charges a 1% penalty on the interest for premature withdrawals. However, the penalty is subject to change as per PNB terms and conditions.
  • Loan against FD: PNB offers loans against their FDs. Investors can get up to 90% of the deposit amount as a loan against their PNB FD investment. Also, the interest rate for the loan will be in the range of 4% – 6.3%.
  • Nomination facility: PNB FD investors can nominate beneficiaries for their FDs.
  • Auto-renewal: Investors can opt for auto-renewal of their PNB FDs.
  • Safety: The Deposit Insurance Scheme of RBI covers all PNB deposits. Also, the scheme covers all PNB deposits up to INR 5,00,000.
  • Additional payments: Investors cannot deposit an additional amount in a Punjab National Bank FD once it has commenced. However, they can open a fresh PNB FD with the new amount.

How to open a PNB FD deposit account?

One can open a PNB Bank FD account through various modes such as Internet Banking, Mobile App and offline.

Internet Banking

The following steps will help an individual to open a PNB Bank FD account through internet banking:

  • Firstly, log in to the PNB NetBanking account.
  • Secondly, select the ‘Open Fixed Deposits’ option.
  • Then, enter all the necessary information, nominee details and maturity instructions.
  • Finally, opt for door-step assistance from the bank’s representative. Investors can submit their documents to the representative.
  • Upon verifying and validating the application form and KYC documents, the FD will be booked. Then, the FD certificate will be dispatched to the communication address. Also, one will receive an SMS confirmation on the registered mobile number.

Through Mobile App

PNB Bank App

  • The following steps will guide in opening an FD account through PNB Bank Mobile App:
  • Firstly, download the PNB Bank App and log in.
  • Secondly, select the ‘Open FD’ option.
  • Then, provide all the necessary deposit details, nominee details and opt for door-step assistance.
  • Finally, a bank’s representative will visit for verification.
  • Upon validating the application form and KYC documents, the PNB FD will be booked. Then, the FD certificate will be dispatched to the communication address. Also, one will receive an SMS confirmation on the registered mobile number.

Offline PNB FD Opening

To open a PNB Bank FD account offline, one has to visit the nearest PNB Bank branch. Fill the PNB Bank FD application form and submit all the necessary documents along with the deposit amount. Then, on successfully processing the application, PNB bank will dispatch the FD certificate to the communication address. Also, one will receive an SMS confirmation on the registered mobile number.

Documents Required to Open Punjab National Bank FD

While opening a PNB fixed deposit account, the following are the list of documents required:

  • FD account opening form
  • Identity Proof as per KYC norms. (PAN Card, Aadhar Card, Voter ID Card, Passport, Driving License)
  • Two passport size photographs
  • Pan Card or a declaration in Form No. 60 or 61 of the Income Tax Act
  • Address proof as per KYC norms. (PAN Card, Aadhar Card, Voter ID Card, Passport, Driving License)
  • Bank Saving Account details like account number, IFSC code and branch
  • Also, any other documents as applicable for partnership, proprietorship, company, HUF, association or institution.

Eligibility to Open Punjab National Bank FD

  • The eligibility for opening a PNB FD account varies based on the type of account.
  • Resident Individuals
  • Joint account of a minor with a guardian
  • Partnership Firms
  • Public and Private Limited companies
  • Associations or Institutes
  • NRIs and PIOs (Non-Resident Indians and Persons of Indian Origin)

Does PNB offer Recurring Deposits?

PNB offers recurring deposits to its depositors. Punjab National Bank recurring deposits have a minimum tenure of six months and a maximum tenure of 10 years. Depositors can open an RD account either by going to the PNB branch or online using internet banking. Also, the interest rate for regular citizens on PNB RDs is in the range of 4.4% to 5.3%, and for senior citizens, it is in the range of 4.9% to 5.8%.

Is FD interest taxable?

Only investment in PNB Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. However, investment in no other PNB FDs qualifies for tax saving under Section 80C of the Income Tax Act. Also, the interest income from PNB FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to TDS of 10% if the income from PNB FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to Punjab National Bank, then the TDS rate will be 20%.

How many years will FD double in PNB?

To know in how many years PNB FD will double, we can follow the 72 rule. Firstly, we have to divide 72 by the interest rate. The result will be the number of years PNB FD will double. For example, for a tenure of 5 to 10 years, the PNB FD interest rate for senior citizens is 5.3%. An investor can double the investment amount by investing for this tenure in PNB FD in 13.58 years (72/5.3).

You may also like to read about the PNB RD Interest Rates

Frequently Asked Questions

What is the interest rate on FD in PNB?

PNB FD rates range between 3% and 5.3% for regular citizens and between 3.5% and 5.8% for senior citizens. Moreover, PNB offers an additional 0.5% interest to senior citizens on their FDs. PNB gives the choice of interest payout frequency to the investors, and they can choose from the following – monthly, quarterly, half-yearly, yearly, or at maturity.

Is PNB FD safe?

Punjab National Bank guarantees returns in the form of interest. Moreover, the Deposit Insurance Scheme of RBI covers all PNB deposits. Also, the scheme covers all PNB deposits up to INR 5,00,000. Hence, PNB FDs are safe for investment.

Can we open FD online in PNB?

Yes, investors can open PNB FDs online through their internet banking facility.

What is the highest FD rate for PNB?

The highest FD rate for PNB is 5.3% for a tenure of 5 years, one day to 10 years. Also, for senior citizens, the highest PNB FD rate is 5.8% for a tenure of 5 years, one day to 10 years.

Is there any minimum amount that I have to give for opening a Fixed Deposit with PNB?

The minimum investment in PNB FD is INR 100. However, there is no limit on the maximum amount of investment in PNB FD.

Who all are eligible to open a PNB fixed deposit account?

Individuals, minors, HUF, partnership firms, companies, and also other associations are eligible to open a PNB FD account.

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