PNB Scheme For Road Accident Victims

Punjab National Bank (PNB) offers the Annuity Term Deposit Scheme specifically for victims of road accidents. This scheme understands the challenges of managing a lump sum compensation amount awarded by courts. It provides a solution by converting that amount into a steady source of income.

Returns as high
as 6.9%^*

Includes life cover

Completely Tax free⁺

Maximum returns Offered by Guaranteed

Highest

6.9%^*

Guaranteed Plan

(by insurance companies)

(10 Years)

6.5%^**

Fixed Deposits

(by SBI bank)

(5-10 Years)

6.9%^***

Public Provident Fund

(other popular options)

(15 Years)

Get Guaranteed returns up to 6.9%*

Fully Tax-Free* (unlike FD), Life Cover Included

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We are rated⁺⁺

10.5 Crore

Registered Consumer

Insurance Partners

5.3 Crore

Policies Sold

FD Interest Rates of Domestic/NRO (Below Rs. 3 Crore)

Tenure	Regular Rates Current Rates	Senior Citizen
7 Days to 14 Days	3.00%	3.50%
15 Days to 29 Days	3.00%	3.50%
1 Month to 2 Months	3.00%	3.50%
2 Months to 2 Months	4.50%	5.00%
2 Months to 3 Months	4.50%	5.00%
3 Months to 6 Months	4.90%	5.40%
6 Months to 9 Months	5.60%	6.10%
9 Months to 10 Months	5.60%	6.10%
10 Months	5.50%	6.00%
10 Months to 12 Months	5.60%	6.10%
1 Year	6.25%	6.75%
1 Year to 1.1 Years	6.40%	6.90%
1.1 Years	6.60%	7.10%
1.1 Years to 1.4 Years	6.40%	6.90%
1.4 Years	6.30%	6.80%
1.4 Years to 2 Years	6.40%	6.90%
2 Years to 3 Years	6.40%	6.90%
3 Years to 3.3 Years	6.25%	6.75%
3.3 Years	6.15%	6.65%
3.3 Years to 5 Years	6.25%	6.75%
5 Years	6.25%	6.75%
5 Years to 5.2 Years	6.00%	6.50%
5 Years to 5.2 Years	6.00%	6.80%
5.2 Years	5.85%	6.35%
5.2 Years to 10 Years	6.00%	6.50%

Information About

Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund

Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund

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

Tax on Profit

Taxable

Risk

Low Risk

Debt Mutual Fund

Returns Before Tax

8% ^(TAXABLE)

Returns After Tax

5.5%

Guaranteed Returns

Life Cover

Tax on Profit

Taxable

Risk

High Risk

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*For annual premium upto ₹5 Lacs

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 Scheme For Road Accident Victims

Tenor: 12 months to 120 months (automatically renews for periods exceeding 120 months if court ordered).
Interest: 1% above standard FD interest rate (compounded monthly, paid monthly at a discounted rate).
Loan Against Deposit: Not allowed without court permission.
Premature Withdrawal: Not allowed without court permission.
Minimum Deposit: ₹100.
Maximum Deposit: ₹1,99,99,999.
Linked Savings Account: Mandatory for monthly interest credit.
Cheque Book: Not issued for linked savings account.
Nomination: Available.
TDS: Applicable, certificate provided by the bank.

FD interest rates India have fallen consistently over the last 12 years.

Invest in Plans that offer Guaranteed Returns for over 25 Years

People also read: Which Bank is Best for Fixed Deposit

Eligibility of PNB Scheme For Road Accident Victims

Individuals: Any individual can open the term deposit, either singly or jointly with others.

Minors:

Minors aged 10 years and above can open the term deposit in their own name.
For minors under 10 years, the account can be opened under guardianship.
Court orders are required to support claims in the name of minors.

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