PNB's Recurring Deposit Scheme (e-RD) is a convenient savings option for existing PNB customers who use internet banking. It lets you set up a fixed monthly deposit electronically, building up a lump sum with interest over time. This scheme is ideal for those who want to build a regular savings habit or reach a specific financial goal in the future.
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Returns as high as 7.5%*
Includes life coverCompletely Tax free+
Maximum returns Offered byGuaranteed
Highest
7.5%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
Public Provident Fund
(other popular options)
(15 Years)
In-built life cover
Get Guaranteed returns upto 7.5%*
Invest in 100% Guaranteed Return Plans with Tax benefits under sec 80C & No Tax on returns*
Here are the key features of the PNB Recurring Deposit Scheme (E-RD):
Eligibility: The scheme is available exclusively to Internet Banking users who hold an existing Savings or Current Account with PNB.
Operational Consistency: The mode of operation, nomination, and senior citizen preferential rate will remain the same as in the account from which the recurring deposit is funded.
Acceptance of Terms: Acceptance of the terms and conditions is mandatory before the issuance of the e-RD.
PAN Requirement: The e-RD will only be issued to accounts with a valid PAN document.
Deposit Tenor: The deposit tenor will be according to the respective scheme displayed on PNB's website.
Nomination: The nomination for the e-RD will continue to be the same as in the funded account.
Maturity Proceeds: Upon maturity, the proceeds will be credited to the account from which the term deposit was funded.
Account Closure: For closure or premature closure of the e-RD account, customers must visit their parent branch.
Interest Rate: The rate of interest applicable will be the card rate as per the tenor of the deposit, as displayed on the PNB website. This rate is subject to change from time to time.
Nomination Facility: The scheme offers a nomination facility, ensuring that the nominee benefits from the deposit in the event of the account holder's demise.
TDS: Tax Deducted at Source (TDS) is applicable as per rules. PNB will issue a TDS certificate for the tax deducted.
FD interest rates India have fallen consistently over the last 12 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years
*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
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in