The PNB Sugam Term Deposit Scheme is a Fixed Deposit (FD) scheme offered by Punjab National Bank (PNB). This fixed return plan is designed for customers seeking a simple and secure investment option. It provides competitive FD interest rates and flexible tenure options, catering to both short-term and long-term financial goals.
The key features of PNB Sugam Term Deposit Scheme are as follows:
Minimum Deposit Amount: Rs. 10,000, with subsequent increments in multiples of Rs. 1, up to a maximum of Rs. 10 lakh per customer.
Period of Deposit: Ranges from 46 days to 120 months, including options for incomplete quarters.
Interest: Interest rates are based on the Card rate as per guidelines issued by the Bank. Rate variation is applicable for deposits below Rs. 2 crore.
Interest Deposit: Interest can be paid out monthly or quarterly, or compounded and paid at maturity for cumulative schemes. Under the Sugam Scheme, compounded interest is paid with quarterly rests if the deposit period exceeds 6 months.
Demand Loan/Overdraft Facility: Available.
Premature Withdrawal of Deposit: Withdrawals allowed in multiples of Rs. 1, with a minimum of Rs. 1,000 at a time. Partial withdrawals do not affect the entire deposit or interest on the remaining amount under the scheme.
Partial and Full Withdrawal: No penalty for partial withdrawals. Full withdrawals before maturity incur interest based on the contractual rate or the rate applicable on the original maturity date, whichever is lower.
Conversion: Conversion permitted up to the revised limit of Rs. 10 lakh.
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
˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25. 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. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Interest Earned
Maturity Amount
