For opening a fixed deposit with ease, and at attractive interest rates, Punjab National Bank (PNB) Fixed Deposit is a good move.
Punjab National Bank (PNB)Fixed Deposit -Interest Rates for different Investment Periods
|Investment Period||FD rates for Regular deposits||FD rates for Senior Citizen|
|7 days to 14 days||5.70%||6.20%|
|15 days to 29 days||5.70%||6.20%|
|30 days to 45 days||5.70%||6.20%|
|46 days to 90 days||6.35%||6.85%|
|91 days to 179 days||6.35%||6.85%|
|180 days to 270 days||6.35%||6.85%|
|271 days to 364 days||6.35%||6.85%|
|1 year 1 day to 2 years||6.75%||7.25%|
|3 years 1 day to 10 years||6.25%||6.75%|
The above rates are applicable for deposits of below Rs. 1 crore.
PNB FD Interest Rates
PNB offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of PNB have a higher interest rate compared to their saving deposits. Benefits of opening an FD account in PNB are:
- The auto renewal facility is not available
- Nomination facility is available
- Loan or overdraft up to 90 percent of the deposit is available
- Income option can range from 6 months to 120 months
FD in PNB – Premature Withdrawal
Premature closure of Term Deposit with PNB is along with the lower interest rate of 1% than the contracted rate. The penal provisions for premature closure on PNB FD are subject to change from time to time and may also vary with deposit schemes.
Loan against Fixed Deposit PNB
PNB offers loan up to 90% of its own deposit. Note that PNB will not give you the loan against FD of any other bank. PNB offers Loan against FD at the rate of 5% to 7.6%