What is a Punjab National Bank NRE Fixed Deposit?
The Punjab National Bank NRE FD is a financial instrument through which Non-Resident Indians deposit funds from abroad for a predetermined time and grow them by earning interest. NRIs deposit funds in foreign currency, which the bank itself converts into Indian rupees as per the ongoing rate, leading to hassle-free management of their foreign-earned income in Indian rupees. The interest earned on the deposits is exempt from tax deductions.
Punjab National Bank Interest Rates on NRE FD Account Deposits
Punjab National Bank provides higher fixed deposits interest rates for various tenors, catering to your needs as investors. The Punjab National Bank NRE FD rates amounting to less than ₹3 crore and ₹3 crore to ₹10 crore are as follows:
|
|
Less than Rs. 3 Cr. |
Rs. 3 Cr. To Rs. 10 Cr. |
| Sl. No |
Tenor |
Interest Rates (% p.a.) |
Interest Rates (% p.a.) |
| 1 |
1 year |
6.7 |
6.7 |
| 2 |
> 1 year to 389 days |
6.7 |
6.7 |
| 3 |
390 days |
6.9 |
6.8 |
| 4 |
391 days to 505 days |
6.7 |
6.7 |
| 5 |
506 Days |
6.6 |
6.6 |
| 6 |
507 Days -2 year |
6.7 |
6.7 |
| 7 |
> 2 years to 3 years |
6.7 |
6.5 |
| 8 |
> 3 year to 1203 days |
6.5 |
6.25 |
| 9 |
1204 days |
6.4 |
6.15 |
| 10 |
1205 days to 5 years |
6.5 |
6.25 |
| 11 |
> 5 years to 1894 days |
6 |
5.6 |
| 12 |
1895 days |
5.85 |
5.45 |
| 13 |
1896 days to 10 years |
6 |
5.6 |
Note: Interest rates are effective from June 2025. Punjab National Bank NRE FD rates are subject to change without prior notice.
The PNB NRE FD rates amounting to more than ₹10 crore to more than ₹1000 crore are as follows:
| Maturity Period |
Above Rs.10 Crore to Rs.25 Crore |
Above Rs.25 Crore to Rs.100 Crore |
Above Rs.100 Crore to Rs.500 Crore |
Above Rs.500 Crore to Rs.1000 Crore |
| 91-120 days |
6.05 |
6.05 |
6.05 |
6.05 |
| 121-150 days |
6.05 |
6.05 |
6.05 |
6.05 |
| 151-179 days |
6.05 |
6.05 |
6.05 |
6.05 |
| 180-270 days |
6.05 |
6.05 |
6.05 |
6.05 |
| 271 days to less than 1 year |
5.85 |
5.85 |
5.85 |
5.85 |
| 1 year |
6.35 |
6.35 |
6.35 |
6.35 |
Note: These non-premature withdrawal NRE FD interest rates are effective from June 2025. Punjab National Bank NRE FD rates are subject to change without prior notice.
Benefits of Punjab National Bank NRE Fixed Deposits
Punjab National Bank of India’s Term deposits (also known as Fixed Deposits) offer special benefits fulfilling the needs of many Non-Resident Indians. The features offered by Punjab National Bank NRE FD are:
-
The account can be held jointly by two or more NRIs/PIOs on an 'either or survivor' basis.
-
Deposits can be automatically renewed upon maturity.
-
Interest earned on these deposits is tax-free.
-
Both the principal and interest are fully repatriable.
-
NRE account holders can avail of a Debit-cum-ATM Card.
What Are the Eligibility Criteria for a Punjab National Bank NRE FD Account?
The following conditions are to be fulfilled in order to open a Punjab National Bank NRE FD account:
-
The candidate must be a non-resident individual of Indian origin.
-
The candidate must belong to the category of a foreign national or a foreign national student.
-
A document to verify Indian and overseas addresses.
-
Must have one copy of a valid passport.
-
Proof to establish NRI, foreign national, foreign national student, PIO, or OCI status.
How to Open a Punjab National Bank NRE FD Account
To open an account and get good PNB NRE FD rates, the following steps are to be followed:
-
For Existing Customers
Online Application:
To open a Punjab National Bank NRE FD account, existing customers can use the bank’s Internet banking services option. You can log in to Internet banking services with a valid User ID & password. By following the necessary steps and filling out the relevant information, such as the FD amount and tenor, your Punjab National Bank NRE FD account will then be opened easily.
You can open NRE FD accounts in Indian rupees with funds received as foreign inward remittances in freely convertible currency via regular banking channels. Banks may also accept Foreign Currency Travelers Cheques/Notes during a temporary visit to India.
-
For New Customers
New customers can open a Punjab National Bank NRE FD account using two convenient methods.
Online Application:
Visit the Punjab National Bank website, navigate to the NRI banking section, and follow the online instructions to open an NRE FD. You'll likely need to fill an online form and upload required documents.
Offline Application:
Visit any Punjab National Bank branch in India. Request to open a Non-Resident External (NRE) Fixed Deposit account. Bank staff will guide you through the application process and required documentation.
Documents Required to Open a Punjab National Bank NRE FD Account
To open the Punjab National Bank NRE FD account, the following general documents are to be submitted by you for the bank to review before opening your NRE FD account:
-
ID proof: Passport
-
Address proof (India & overseas)
-
Proof of Tax
-
Proof of NRI, foreign national, foreign national student, PIO or OCI status
-
Passport-size photograph
-
Overseas work/residence proof (visa/permit)
-
Any other document required by the bank.
Conclusion
The PNB NRE FD rates ensure that you get higher interest rates on your deposits, leading to the growth of your funds. One of the best features of PNB NRE FD is that the principal amount invested by the investor and the interest earned on it are completely repatriable, which allows for the transfer of the funds back to their home country when needed. Knowing the PNB NRE FD rates is the first and foremost step in expanding your savings through a reliable and secure investment option.
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