Download the Policybazaar app
to manage all your insurance needs.
PNB NRO Sugam Term Deposit Scheme
The PNB NRO Sugam Term Deposit Scheme offered by Punjab National Bank (PNB) is designed specifically for Non-Resident Ordinary (NRO) account holders. It provides a simple and hassle-free way for NRIs to invest their funds with competitive interest rates and flexible tenure options, catering to their financial needs while complying with Indian regulatory requirements.
Guaranteed Return
Includes Life Cover
Completely Tax Free+
3 Benefits, 1 Plan
Maximum returns offered by:
6.9%* (Tax-Free)
Guaranteed Plan
(By Insurance companies)4.6%* (After Tax)
Fixed Deposit
(Offered by Banks)4.0%*
Savings Account
(Post Office)Get Guaranteed returns upto 6.9%*
Fully Tax-Free, Life Cover Included
-
Home
-
FD Interest Rates
-
PNB FD Interest Rates
- PNB NRO Sugam Term Deposit Scheme
PNB FD Interest Rates for Domestic/NRO Term Deposits (Below Rs. 3 Crore)
Information About
Guaranteed Return Plans
Returns Before Tax
6.9%* (TAX-FREE)
Returns After Tax
6.9%*
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
People also read: PNB FD Interest Rates
PNB FD Interest Rates for Domestic/NRO Term Deposits (Rs. 3 Crore – 10 Crore)
| 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 |
People also read: FD Interest Rates
Features of PNB NRO Sugam Term Deposit Scheme
The key features of PNB NRO Sugam Term Deposit Scheme are as follows:
-
Joint Accounts: Can be held jointly with residents and/or non-residents. With residents, it's on a 'former or survivor' basis only.
-
Account Opening Form: Use the Non-Resident Ordinary Sugam Term Deposit Account form, which covers all deposit schemes and meets FEMA requirements. KYC norms, anti-money laundering rules, and PEP guidelines must be followed. Photocopies of passport and Visa/Resident permit are required.
-
Nomination: Allowed in the Non-Resident Ordinary Sugam Term Deposit Account, can be in favor of a resident or non-resident to ease claims in case of the account holder's death.
-
Tax Liabilities: Interest income on deposits is subject to tax deduction as per Central Board of Direct Taxes rules.
-
Deposit Amount: Minimum Rs. 10,000/- with no upper limit, in multiples of Re. 1/- up to Rs. 10.00 Crore.
-
Period of Deposit: From 46 days to 120 months, including incomplete quarters like 13 months, 14 months, etc.
-
Interest: Determined by Card Rate issued by HO: IRMD (ALM), compounded quarterly if the deposit period is 6 months or more.
-
Premature Withdrawal:
-
No penalty for partial withdrawals in multiples of Rs. 1,000/-. Interest continues on the remaining deposit.
-
Full withdrawal before maturity incurs no penalty. Interest paid at the contractual rate or current rate, whichever is lower.
-
-
Demand Loan or OD: Available against term deposit or for conversion/change of option, but requests must be made at the base branch.
-
Other Terms: Governed by general banking guidelines and specific terms applicable to NRO deposits, excluding additional interest for senior citizens applicable to domestic deposits.
FD interest rates India have fallen consistently over the last 12 years.
People also read: Which Bank is Best for Fixed Deposit
Eligibility Criteria for PNB NRO Sugam Term Deposit Scheme
-
NRO Sugam Term Deposit open to NRIs or PIOs.
-
Account must be opened by the non-resident account holder, not by power of attorney.
-
NRO accounts are not allowed for Overseas Corporate Bodies (OCBs).
PNB Interest Rates for Tax Saver Fixed Deposit Scheme
| Rates For General Citizens (%) | Rates For Sr. Citizen (%) | |
| 5 Years | 6.50 | 7.00 |
| > 5 Years to 1894 days | 6.50 | 7.00 |
| 1895 days | 6.35 | 6.85 |
| 1895 days to 10 years | 6.50 | 7.00 |
People also read: FD Calculator
*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
FD Calculator
Interest Earned
Maturity AmountFD Rates articles
Recent Articles
Popular Articles
28 Aug 2025
Bank of Maharashtra offers Foreign Currency Non-Resident (FCNR)