PNB Fixed Deposit Interest Rates

Punjab National Bank is one of the top Indian banks holding a respectable place in the financial market. PNB offers a plethora of products and services, including the PNB Fixed Deposit account, also known as a term deposit. It provides competitive interest rates compared to other banks in the financial market, with tenure ranging from 7 days to 10 years. The investor can park their surplus savings and earn high interest on the deposited amount. The bank offers myriad Fixed Deposit (FD) options for Individuals, Senior Citizens, and NRIs. Read more

FEATURES
hdfc-life
sbi-bank
hdfc-bank
hdfc-life
Returns (Max Tenure)
5.60%
5.5%
5.75%
Highest Return6.3%
Life Cover
No
No
No
Yes
Tax Saving
No
No
No
₹46,800*

Yearly

* Assuming investment of ₹ 1 Lakh per year & income tax slab of 30%

PNB Fixed Deposit Interest Rates

Rates with effect from 20th June 2022:

Tenure REGULAR RATES
Current Rates
SENIOR CITIZEN
7 to 14 days 3.00% 3.50%
15 to 29 days 3.00% 3.50%
30 to 45 days 3.00% 3.50%
46 to 90 days 3.25% 3.75%
91 to 179 days 4% 4.5%
180 days to 270 Days 4.50% 5%
271 days to less than 1 year 4.50% 5%
1 year 5.30% 5.8%
Above 1 year & up to 2 years 5.45% 5.95%
Above 2 years & up to 3 years 5.50% 6%
Above 3 years & up to 5 years 5.75% 6.25%
Above 5 years & up to 10 years 5.60% 6.10%
1111 days 5.75% 6.25%

FD interest rates have been declining over last few years and is expected to further fall, as Indian economy grows in coming years.

5 Yrs FD rate - Historical trend
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Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
PNB FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Show More

About PNB Fixed Deposit Rates

Punjab National Bank offers many fixed deposit schemes beneficial for all kinds of investors, which can help them achieve their financial goals with competitive interest rates with other banks and institutions.

PNB also offers Tax-saving FDs with a minimum tenure of 5 years. Unlike other FDs, these PNB fixed deposits cannot be withdrawn before the completion of the expiry of the FD tenure. Also, tax-saving FDs cannot be used as collateral to obtain a loan.

PNB Tax Saving FDs offer tax benefits up to Rs.1.5 lacs per annum under Section 80C of the Income Tax Act, 1961. You can easily open a PNB fixed deposit account online by logging in to your internet banking account.

  • Types of PNB FD Schemes

    • Regular Fixed Deposit
    • PNB Sugam Term Deposit Scheme
    • FD Scheme for the Victims of Road Accidents
    • PNB Anupam Term Deposit Scheme
    • PNB Balika Shiksha Fixed Deposit Scheme
    • PNB Multi-Benefit Deposit Scheme
    • PNB Swechha Jama Yojana FD Flexi Scheme
    • PNB Varshik Aay Deposit Scheme
    • PNB Tax Saver Deposit Scheme
    • Prospective Senior Citizen Term Deposit Scheme
    • PNB Bulk Fixed Deposit Scheme
    • PNB Mibor Linked Notice Deposit Scheme

    The detailed description of these fixed deposit schemes is as follows:

    1. Regular Fixed Deposit:

    • This scheme enables the depositors to invest in a way so that they earn good returns with security and flexibility.
    • The facility of nomination is also available.
    • The scheme follows a simple process of investment with good returns.
    • The overdraft facility is also provided up to 75% against the fixed deposit.
    • The interest is paid at the time of the policy's maturity.
    • Hindu Undivided Families, resident Indians, trusts, private companies, and partnership firms can invest in this fixed deposit.

    2. PNB Sugam Term Deposit Scheme:

    • This FD scheme offers more flexibility to its account holders with higher PNB FD interest rates. In this scheme, you can withdraw a small amount before maturity.
    • You can draw interest on a quarterly, monthly, yearly, or half-yearly basis or upon maturity.
    • The facility of nomination is available.
    • Flexibility is offered on your fixed deposit account.
    • Minors of ten years and older who are under guardianship, Hindu Undivided Families, partnership firms, and sole proprietorship are eligible.

    3. FD Scheme for the Victims of Road Accident:

    • As per the name of this plan, it provides funds for the motor insurance claims for road accident victims.
    • Loans or advances under this scheme are not allowed.
    • The facility of auto-renewal is available.
    • As a depositor, you get an opportunity to select between compound and simple interest.
    • Individuals, private or public companies, HUFs, partnership firms, and trusts are eligible.

    4. PNB Anupam Term Deposit Scheme:

    • An inbuilt facility for overdraft is provided.
    • The tenure range under this scheme is from 6 months to 120 months.
    • You can open a fixed deposit account with a minimum deposit of Rs.10,000.
    • The facility of nomination is provided.
    • Self-employed and salaried persons of at least 18 years are eligible.

    5. PNB Balika Shiksha Fixed Deposit Scheme:

    • Loans or advances under this scheme are not allowed.
    • This FD has a facility of auto-renewal for 30 days.
    • Unmarried girls under 16 years and the girls who have passed 8th grade from Kasturba Gandhi Balika Vidyalayas and enrolled for class 9th are eligible.

    6. PNB Multi-Benefit Deposit Scheme:

    • In this scheme, multiple benefits are provided to the depositor, offering higher PNB FD interest rates.
    • The facility of nomination is provided.
    • Overdraft and loan features are offered for up to 90% of the fixed deposit.
    • The minimum deposit amount under the scheme is Rs. 100, whereas the maximum deposit is up to Rs.99.99 lakhs.
    • HUFs, resident Indians, trusts, partnership firms, government bodies, corporates, and minors of ten years and above are eligible.

    7. PNB Swechha Jama Yojana FD Flexi Scheme:

    • This fixed deposit scheme provides the facility to save earnings with flexibility.
    • The minimum amount that you can deposit is Rs.100.
    • The facility of nomination is available.
    • The interest is calculated daily but is paid half-yearly.
    • The facility of nomination is offered.
    • The facility of a loan of up to 90% of the deposited amount.
    • HUFs, resident Indians, sole proprietorship, and partnership companies.

    8. PNB Varshik Aay Deposit Scheme:

    • In this scheme, the interest is compounded every quarter and paid yearly.
    • The facility of nomination is provided.
    • You can avail of the facility of a loan of up to 90% of your FD amount.
    • Resident Indians, HUFs, partnership firms, sole proprietorship companies, and minors under 10 years are eligible.

    9. PNB Tax Saver Deposit Scheme:

    • As the name of this scheme, it is a tax saver flexible and secure scheme that offers dual benefits of tax exemption under Section 80C of the IT Act and provides good returns.
    • The facility of nomination is offered.
    • You can avail the facility of a loan of up to 90% of your FD amount.
    • The tax rebate is given under Section 80C of the Income Tax Act.

    10. Prospective Senior Citizen Term Deposit Scheme:

    • As the name of this scheme suggests, it is designed for senior citizens as it provides a higher interest rate than the general citizen's fixed deposit account.
    • The facility of loan is provided. A senior citizen can take up to 90% of their deposit as a loan.
    • The facility of nomination is also there.
    • Senior citizens of 60 years or above are eligible for this scheme.

    11. PNB Bulk Fixed Deposit Scheme:

    • In this fixed deposit scheme, you can deposit Rs.10 Crore in a single deposit.
    • The facility of auto-renewal is provided.
    • The facility of nomination is also offered.
    • Overdraft or loan feature is also provided, and you can avail loan of up to 90% of your deposit.
    • The option of income may range from six months to 120 months.
    • Minors of 10 years and above and minors below 18 years can avail of this FD under guardianship, a sole proprietorship firm, HUFs, and partnership firms are eligible.

    12. PNB Mibor Linked Notice Deposit Scheme:

    • Mibor linked notice deposit scheme offers a fixed deposit product with a rate of interest linked to Mumbai Inter-Bank Offer Rate (MIBOR) NSE overnight.
    • The rate of interest is linked to MIBOR with the feature of a daily reset.
    • The facility of auto-renewal is offered over the deposit.
    • As soon as the spread is given for the day, there is no limit for accepting the deposit under this scheme.
    • Companies, individuals having high net worth, public sector undertaking, corporate bodies, and commercial organizations are eligible.
  • Term Wise PNB FD Rates

    • Short term deposits
    • Medium-term deposits
    • Long term deposits

    1. Short Term Deposits

    Punjab National Bank provides several short-term FD options for those who wish to enjoy quick returns in a short period.

    You can choose to invest for a period ranging from 7 days to less than 365 days. Also, you can earn great returns on these short-term FDs by PNB bank ranging from 3.00 percent to 4.50 percent every year.

    2. Medium Term Deposits

    PNB medium-term fixed deposits offer a rate of interest ranging from 4.50% p.a. to 5.30% per annum for anytime between 1 and 5 years.

    For 1-year deposits, the PNB FD interest rate is 5.25%. And for deposits between 3 and 5 years, the applicable rate of interest is 5.30%.

    3. Long Term Deposits

    Long-term fixed deposits are ideal for people who want to invest their money for a tenure of 5 to 10 years.

    The interest rate on long-term FDs is 5.30%. You can also put your money in tax-saver FDs with a 5-year lock-in period. You can claim tax deductions under Sec. 80C of the Income Tax Act for investments up to 1.5 lakh rupees.

  • Features of PNB Fixed Deposit Rates

    • A typical PNB FD scheme ranges from 7 days to 10 years which cannot be changed once commenced.
    • The minimum investment amount under the scheme is Rs.100.
    • The maximum investment amount does not have any limit.
    • Apart from the PNB tax-saver FDs, premature withdrawal of other FD schemes is available at a penalty of 1%. Penalty may vary from one scheme to another.
    • Punjab National Bank offers loans up to 90% of the deposited amount.
    • The nomination facility and Autorenewal option are available under the PNB FD schemes.
    • Many FD scheme options are available, like Sugam term deposits, Anupam term deposit scheme, road accident victims, etc.
  • Eligibility Criteria

    Any of the following can open invest in PNB FDs-

    • Individuals
    • Companies
    • A minor and a guardian can open a joint account
    • Companies
    • Partnership
    • Any Institute and associations
    • NRIs
  • Documents Required

    The following documents are required to start a fixed deposit account-

    • Application Form
    • Details on the Aadhaar Card
    • 2 photographs
    • Identity proof
    • Address proof
    • A copy of the PAN Card
    • Form 60 or 61
  • How to Invest in the ONB FD Scheme

    An investor can opt for either of the following methods to invest in the PNB FD Scheme:

    1. Internet Banking

    The following steps need to be followed to invest via internet banking:

    • Login to the PNB account
    • Click on the "Open Fixed Deposit" option under the "transaction" tab.
    • Fill in the needful details like the policy's tenure and the amount willing to be invested.
    • Provide nominee details.
    • Confirm all the details before proceeding further.
    • A receipt will be generated that can be downloaded instantly.

    2. PNB Bank Mobile Application

    The following steps need to be followed to open an FD account via the mobile application of PNB:

    • Download the PNB bank application on your mobile (can be either ios or android).
    • After creating credentials, one can sign in to the application.
    • Head to the main menu and select the deposit option after signing in.
    • Under the "Deposits" option, choose the "Open Fixed Deposit" tab.
    • Fill in all the required details and upload the required documents.
    • A receipt will be generated after successfully providing all the details, which can be downloaded immediately.

    3. A PNB FD Account Offline

    In the offline method of opening a PNB Fixed Deposit Account, the investor needs to visit the nearest PNB branch and fill out forms to open their respective FD account. All the relevant documents must be submitted to the branch manager along with the deposit amount. After successfully verifying all the provided documents, the branch manager provides a receipt that is the account opening proof for the investor.

PNB Fixed Deposits - FAQs
Can PNB FD interest rates vary from time to time?
Do you have to pay tax on the interest earned on fixed deposits?
What if I don’t provide my PAN details while opening an FD with PNB Bank?
How is interest paid to a fixed deposit holder?
Is the interest rate provided on regular FDs and e-FDs the same?
What is the maximum interest rate offered by the Punjab National Bank?
What is the PNB FD interest rates for senior citizens' FDs?
What is the tenure range for PNB Fixed Deposits?
What is the minimum amount that I need to deposit in my FD?
Can I deposit an additional amount in an ongoing FD?
Who all are eligible to open a PNB FD account?
Can I change the term of my existing PNB FD?

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