Punjab National Bank Senior Citizen FD Rates 2025

What is a Punjab National Bank Senior Citizen FD?

A Punjab National Bank Senior Citizen FD is a term deposit scheme for individuals who are aged 60 years and above. For senior citizens, FD interest payout options include monthly, quarterly, half-yearly, or cumulative at maturity, depending on the depositor’s preference. View the latest returns offered on your fixed deposits, and check the current Punjab National Bank FD rates. Let’s explore the latest Punjab National Bank FD interest rates for senior citizens, their main features, and how to open a senior citizen FD account.

Key Benefits of Punjab National Bank Senior Citizen FD

Here are some reasons why Punjab National Bank FD rates for senior citizens make a smart investment choice:

1. The PNB Pranam Fixed Deposit:

   This scheme is a dedicated offering for senior citizens, allowing investments starting from ₹100 up to ₹1,99,99,999 in multiples of ₹1.

2. Auto-Renewal Facility: 

   Senior citizens can set up their FD for automatic renewal on maturity, ensuring continuous investment and eliminating the need to rebook the FD manually.

3. Premature Withdrawal Allowed: 

   Senior citizens can withdraw their FD before maturity in case of emergencies. While a nominal penalty of 0.50% to 1% may apply, they still get access to their funds when needed.

4. Sweep-in/Sweep-out Facility via Prudent Sweep Account: 

   Senior citizens holding a PNB Prudent Sweep Account can enjoy automatic transfers between savings and FD, earning higher interest on surplus funds while maintaining daily liquidity.

5. PNB Pranam FD for Senior Citizens: 

   A dedicated FD scheme for those aged 60+, PNB Pranam accepts deposits from ₹100 to ₹1.99 crore with tenures from 1 to 10 years.

Punjab National Bank FD Interest Rates for Senior Citizens 

Here are the Punjab National Bank FD Rates for various deposits with different tenures:

Punjab National Bank Senior Citizen FD Rates (Deposits Below ₹ 3 Crore)

*Punjab National Bank FD interest rates w.e.f. June 18, 2025

PNB Uttam Senior Citizen FD (₹1 Cr to Less than ₹3 Cr, Non-Callable)

*Punjab National Bank FD interest rates w.e.f. June 18, 2025

How to Open a Punjab National Bank Senior Citizen FD

PNB provides both online and offline methods to open a Senior Citizen FD:

1. Online Method

   • Log in to your PNB net banking or mobile banking app.
   • Navigate to "Deposits" and choose "Senior Citizen FD."
   • Enter the deposit amount, tenure, and interest payout frequency.
   • Add nominee details and opt for auto-renewal if desired.
   • Authorise the transaction and receive your e-receipt instantly.

2. Offline Method

   • Visit your nearest PNB branch.
   • Carry identity proof, age proof (like Aadhaar/PAN), and photographs.
   • Fill out the senior citizen FD application form.
   • Submit the deposit via cash, cheque, or transfer from an existing account.
   • Collect your FD certificate upon processing.

Taxation on PNB Senior Citizen FDs

Interest earned on Punjab National Bank Senior Citizen FDs is taxable and added to your total income, taxed as per your applicable income tax slab under the Income Tax Act. From April 1, 2025, TDS will be deducted only if the total interest in a financial year exceeds ₹1 lakh. Senior citizens can submit Form 15H to avoid TDS if their total income is below the taxable limit. Under Section 80TTB, they can also claim a deduction of up to ₹50,000 on interest.

Key Takeaways

Punjab National Bank senior citizen fixed deposit offers interest rates that are 0.50% higher than regular FDs, depending on the chosen tenure. Senior citizens can open FD accounts either online or by visiting a branch. As per RBI guidelines, individuals aged 60 and above qualify for senior citizen FDs. One potential limitation of the PNB Senior Citizen FD is that the additional interest benefit may be modest for shorter durations. For those seeking higher short-term returns, alternative financial instruments might offer better returns.