Punjab National Bank Senior Citizen FD Rates 2025

What is a Punjab National Bank Senior Citizen FD?

A Punjab National Bank (PNB) Senior Citizen FD is a term deposit scheme specifically for individuals aged 60 and above. It offers a higher FD interest rate, typically 0.50% more than regular FDs. PNB also has a special FD scheme, PNB Pranam, for citizens aged 55 and above who are soon to become senior citizens. For senior citizens, PNB provides flexible interest payout options, including monthly, quarterly, or on a cumulative basis at maturity.

Key Benefits of Punjab National Bank Senior Citizen FD

Here are some reasons why the FD Rates for Senior Citizens make a smart investment choice:

• 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.
• 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.
• 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.
• 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.
• 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. September 09, 2025
# The rates for Rs.3 Crore to Rs.10 Crore are not to be loaded with an additional rate of interest for Senior citizens.

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 FD Interest Rate for a senior citizen

The PNB FD Rates for Senior Citizens are indeed taxable and are added to your total income, which is then taxed according to your applicable income tax slab. Here are the key tax provisions:

• TDS is deducted only if the total interest income from all FDs in a financial year exceeds ₹50,000 for senior citizens.
• Senior citizens whose total income is below the taxable limit can submit Form 15H to the bank to prevent any TDS deduction.
• Under Section 80TTB, senior citizens can claim a deduction of up to ₹50,000 on interest income from all deposits, including FDs.

Key Takeaways

PNB FD rates for senior citizens offer 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. One potential limitation of the PNB Senior Citizen FD is that the additional interest benefit may be modest for shorter durations. People who are seeking higher short-term returns, auto-renewal, premature withdrawal facility, and many more schemes and facilities, this is the best FD option for them.