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PNB Recurring Deposit Scheme (E-RD)
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.
Guaranteed Returns
Includes Life Cover
Completely Tax Free+
3 Benefits, 1 Plan
Maximum returns offered by:
7.4%*
(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 7.4%*
Fully Tax-Free, Life Cover Included
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FD Interest Rates
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PNB FD Interest Rates
- PNB Recurring Deposit Scheme (E-RD)
FD Interest Rates of Domestic/NRO (Below Rs. 3 Crore)
People also read: FD Interest Rates
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 |
People also read: PNB FD Interest Rates
Features of PNB Recurring Deposit Scheme (E-RD)
Here are the key features of the PNB Recurring Deposit Scheme (E-RD):
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Eligibility: The scheme is available exclusively to Internet Banking users who hold an existing Savings or Current Account with PNB.
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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.
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Acceptance of Terms: Acceptance of the terms and conditions is mandatory before the issuance of the e-RD.
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PAN Requirement: The e-RD will only be issued to accounts with a valid PAN document.
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Deposit Tenor: The deposit tenor will be according to the respective scheme displayed on PNB's website.
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Nomination: The nomination for the e-RD will continue to be the same as in the funded account.
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Maturity Proceeds: Upon maturity, the proceeds will be credited to the account from which the term deposit was funded.
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Account Closure: For closure or premature closure of the e-RD account, customers must visit their parent branch.
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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.
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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.
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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.
People also read: Which Bank is Best for Fixed Deposit
PNB Tax Saver 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 |
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FD Calculator
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+ Trad plans with a premium above 5 lakhs would be taxed as per
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#Discount offered by insurance company
##The Guaranteed Returns are dependent on the policy term and premium term availed along with other variable factors. 7.4% rate of return is for an 18-year-old, healthy male for a policy term of 20 years and a premium term of 10 years with ₹5,00,000 annually installment premium. All plans listed here are from insurance companies’ funds.
++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