PNB Capital Gain Account Scheme is a special deposit program offered by Punjab National Bank (PNB) to help you manage capital gains tax efficiently. When you sell an asset like property or stocks for a profit, you incur capital gains tax. This scheme allows you to deposit the capital gains amount into a fixed deposit account.
FD Interest Rates of Domestic/NRO (Rs. 3 Crore and Above)
Period
Revised Rates For General Citizen W.E.F. 10.06.2024 (%)
7 days to 14 days
6.00
15 days to 29 days
6.00
30 days to 45 days
6.00
46 days to 60 days
6.40
61 days to 90 days
6.60
91 to 179 days
6.50
180 days to 270 Days
6.65
271 days to 299 Days
6.75
300 Days
6.75
300 Days to < 1 Year
6.75
1 Year
7.25
> 1 Year to 399 Days
6.80
400 days
6.80
401 days to 2 years
6.80
> 2 year to 3 years
6.50
> 3 year to 1203 days
6.25
1204 days**
6.15
1205 days to 5 years
6.25
> 5 years to 1894 days
5.60
1895 days**
5.45
1896 days to 10 years
5.60
Features of PNB Capital Gain Account Scheme
Deposit Amount: The Capital Gain Term Deposit account under PNB can be opened with a minimum deposit of Rs. 1,000. Subsequent deposits can be made in multiples of Re. 1, with no upper limit on the maximum amount that can be deposited.
Period of Deposit
Maximum Tenor
24 Months: For capital gains under sections 54, 54B, and 54F of the Income Tax Act (as declared in Form A by the depositor).
36 Months: For capital gains under sections 54, 54D, 54F, 54G, and 54GB of the Income Tax Act (as declared in Form A by the depositor).
Minimum Tenor
Maturity Option: 7 days
Income Option: 6 months
After the specified tenor, the fixed deposit will be auto-closed.
Interest Rate: The interest rate applicable to the Capital Gain Term Deposit will be the card rate as per the bank's circulars from time to time. No additional interest will be provided to senior citizens or staff members under this scheme.
Premature Withdrawal of Deposit: If the deposit is withdrawn prematurely, a penal interest rate of 1% will be charged. The interest rate payable will be the lower of:
The contractual rate minus 1%, or
The rate under the scheme on the contractual date is applicable for the tenor for which the deposit has actually run minus 1%.
Fixed Deposit Under Income Option: Depositors can choose to receive interest on a quarterly basis or upon maturity. Interest payments will be credited to the Savings Bank Capital Gain account. If the depositor has a Savings Fund Capital Gain account, they may apply for withdrawal at any time after the initial subscription using Form C, along with the Passbook, subject to the scheme's provisions.
Loan Facility: No loan facility is available against this deposit.
Interest Certificate: An interest certificate can be issued to the depositor, reflecting the amount credited or accrued in the depositor’s account during the year.
Tax Deduction at Source: Branches are required to deduct income tax, if applicable, at the time of interest payment or credit, as per instructions issued by the Finance Division, HO from time to time.
Branch Availability: The account can be opened at all branches except rural branches. Single Capital Gains Term Deposits of over Rs. 25 crore are accepted only at identified branches.
FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years
The PNB Capital Gain Account Scheme is available to depositors who qualify under specific sections of the Income Tax Act. This includes individuals eligible to make deposits under Sections 54, 54B, 54D, 54F, 54GB, and 54G. These sections pertain to various conditions and exemptions related to capital gains. By meeting the criteria outlined in these sections, eligible depositors can open an account under this scheme to manage and benefit from their capital gains effectively.
*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply + Trad plans with a premium above 5 lakhs would be taxed as per
applicable tax slabs post 31st march 2023 #Discount offered by insurance company
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Interest Earned
Maturity Amount
