PNB Fixed Deposit rates

Punjab National Bank provides various FD options. You can securely park your surplus savings in these term deposits for a fixed duration. You are required to deposit the money once in a fixed deposit account and that too while opening the FD a/c with the bank. The money deposited cannot be increased or withdrawn during the tenure of the FD. PNB Fixed Deposits yield higher returns in comparison to PNB saving deposits.

Features of Punjab National Bank Fixed Deposit

Investment Amount  Minimum - Rs.10,000 Maximum- Rs. 99,99,000
Tenure  Minimum - 7 daysMaximum- 10 Years
Interest Rate  Minimum - 3.00 %Maximum- 5.30%

Punjab National Bank Fixed Deposit Rates 2020

Punjab National Bank FD Rates in India
Tenure General Public FD Rates Senior Citizen FD Rates
7 days to 14 days 3.00% 3.50%
15 days to 29 days 3.00% 3.50%
30 days to 45 days 3.00% 3.50%
46 days to 90 days 3.25% 3.75%
91 days to 179 days 4.00% 4.50%
180 days to 270 days 4.40% 4.90%
271 days to 364 days 4.50% 5.00%
333 days 4.50% 5.00%
444 days 5.25% 5.75%
555 days 5.25% 5.75%
1 year 5.25% 5.75%
1 year 1 day to 2 years 5.25% 5.75%
2 years 1 day to 3 years 5.25% 5.75%
3 years 1 day to 5 years 5.30% 5.80%
5 years 1 day to 10 years 5.30% 5.80%

Comparison of FD Rates by Top 10 Financial Institutes

Name Interest Rates Tenure  
Axis Bank 5.75% 5 years to 10 years View Details
Bank of Baroda 5.30% 5 years 1 day to 10 years View Details
Bank of India 5.40% 5 years to 10 years View Details
Canara Bank 5.45% 3 years to 10 years View Details
Central Bank of India 5.35% 5 years to 10 years View Details
HDFC Bank 5.50% 5 years 1 day to 10 years View Details
ICICI Bank 5.50% 5 years 1 day to 10 years View Details
IDBI Bank 5.70% 7 years 1 day to 10 years View Details
State Bank Of India 5.40% 5 years to 10 years View Details
Yes Bank 7.00% 1 year to 10 years View Details

Benefits of Opening a PNB Fixed Deposit Account:

  • Auto-renewal facility of PNB fixed deposits
  • Nomination is permissible
  • Availability of loans against FD

Best PNB FD Interest Rates

The highest PNB FD interest rates that you can get on PNB Fixed Deposits is 5.30% per annum for all the deposits less than 2 crore rupees. On the other hand, senior citizens can get an interest rate of 5.80% per annum for similar deposits.

Types of PNB FD Schemes

Regular Fixed Deposit:

  • This scheme enables the depositors to invest in a way so that they earn good returns with security and flexibility.
  • The facility of nomination is also available.
  • The simple process of investment with good returns.
  • The facility of overdraft is also provided up to 75% against the fixed deposit.
  • The interest is paid at the time of the policy's maturity.
  • Hindu Undivided Families, resident Indians, trusts, private companies, and partnership firms can invest in this fixed deposit.

PNB Sugam Term Deposit Scheme:

  • This FD scheme offers more flexibility to its account holders with higher PNB FD interest rates. In this scheme, you can withdraw a small amount before maturity.
  • You can draw interest on a quarterly, monthly, yearly, or half-yearly basis or upon maturity.
  • The facility of nomination is available.
  • Flexibility is offered on your fixed deposit account.
  • Minors of age ten years and more who are under guardianship, Hindu Undivided Families, partnership firms, sole proprietorship are eligible.

FD Scheme for the Victims of Road Accident:

  • As per the name of this plan, it provides funds for the claims of motor insurance for the victims of a road accident.
  • No advancers or loans are allowed in this scheme.
  • The facility of auto-renewal is available.
  • As a depositor, you get an opportunity to select between compound and simple interest.
  • Any individual, private or public company, HUFs, partnership firms, and trusts are eligible.

PNB Anupam Term Deposit Scheme:

  • An inbuilt facility of overdraft is provided.
  • The tenure ranges from six months to 120 months.
  • You can open a fixed deposit account with a minimum deposit of Rs.10, 000.
  • The facility of nomination is provided.
  • Self-employed and salaried persons of at least 18 years are eligible.

PNB Balika Shiksha Fixed Deposit Scheme:

  • As per the name of this scheme, it is made for those girls who have crossed the 8th
  • Does not provide advances or loan against it.
  • This FD has a facility of auto-renewal for 30 days.
  • Unmarried girls under 16 years and the girls who have passed 8th grade from Kasturba Gandhi Balika Vidyalayas are eligible.

PNB Multi-Benefit Deposit Scheme:

  • In this scheme, multiple benefits are provided to the depositor and it offers a higher PNB FD interest rates.
  • The facility of nomination is provided.
  • Overdraft and loan features are offered up to 90% of the fixed deposit.
  • You can deposit as low as Rs.100 and up to Rs.99.99 lakh in this account.
  • HUFs, resident Indians, trusts, partnership firms, government bodies, corporates, and minors of ten years and above are eligible.

PNB Swechha Jama Yojana FD Flexi Scheme:

  • This fixed deposit scheme provides the facility to save the earnings with flexibility.
  • The minimum amount that you can deposit is Rs.100.
  • The facility of nomination is available.
  • The interest is calculated on daily basis but is paid half-yearly.
  • The facility of nomination is offered.
  • The facility of a loan of up to 90% of the deposited amount.
  • HUFs, resident Indians, sole proprietorship, and partnership companies.

PNB Varshik Aay Deposit Scheme:

  • In this scheme, the interest is compounded in every quarter and is paid yearly.
  • The facility of nomination is provided.
  • You can avail of the facility of a loan of up to 90% of your FD amount.
  • Resident Indians, HUFs, partnership firms, sole proprietorship companies, and minors who are under 10 years are eligible.

PNB Tax Saver Deposit Scheme:

  • As the name of this scheme, it is tax saver flexible and secure scheme that offers dual benefits of tax exemption u/s 80C of the IT Act and provides good returns.
  • The facility of nomination is offered.
  • You can avail the facility of loan up to 90% of your FD amount.
  • The tax rebate is given u/s 80C of the Income Tax Act.

Prospective Senior Citizen Term Deposit Scheme:

  • As the name of this scheme suggests it is designed for the senior citizens as it provides a higher interest rate as compared to the general citizen’s fixed deposit account.
  • The facility of loan is provided. A senior citizen can take up to 90% of his/her deposit as a loan.
  • The facility of nomination is also there.
  • The senior citizens of 60 years or above are eligible for this scheme.

PNB Bulk Fixed Deposit Scheme:

  • In this fixed deposit scheme, you can deposit Rs.10 Crore in a single deposit.
  • The facility of auto-renewal is provided.
  • The facility of nomination is also offered.
  • Overdraft or loan feature is also provided and you can avail loan up to 90% of your deposit.
  • The option of income may range from six months to 120 months.
  • Minors of 10 years and above and minors who are below 18 years can avail of this FD under guardianship, a sole proprietorship firm, HUFs, and partnership firms are eligible.

PNB Mibor Linked Notice Deposit Scheme:

  • Mibor linked notice deposit scheme offers a fixed deposit product that has a rate of interest that is linked to Mumbai Inter-Bank Offer Rate (MIBOR) NSE overnight.
  • The rate of interest is linked to MIBOR with the feature of a daily reset.
  • The facility of auto-renewal is offered over the deposit.
  • As soon as the spread is given for the day, there is no limit for accepting the deposit under this scheme.
  • Companies, individuals having high net worth, public sector undertaking, corporate body, and commercial organizations are eligible.

PNB FD Interest Rates Table W.E.F. 01.08.2020

FD Tenure

FD rates for deposits lesser than 2 crore Rupees W.E.F. 01. July.2020

FD rates for deposits ranging between 2 and 10 crores W.E.F. 01. August.2020

Between 7 & 14 days

3.00 percent

2.90 percent

Between 15 & 29 days

3.00 percent

2.90 percent

Between 30 & 45 days

3.00 percent

2.90 percent

Between 46 & 90 days

3.25 percent

2.90 percent

Between 91 & 179 days

4.00 percent

2.90 percent

Between 180 & 270 days

4.40 percent

2.90 percent

Between 271 days & less than one year

4.50 percent

2.90 percent

333 days

4.50 percent

2.90 percent

One year

5.25 percent

2.90 percent

444 days

5.25 percent

2.90 percent

555 days

5.25 percent

2.90 percent

More than one year and up to two years

5.25 percent

2.90 percent

More than two years and up to three years

5.30 percent

2.90 percent

More than five years and up to 10 years

5.30 percent

2.90 percent

Note: The aforementioned PNB Fixed Deposit rates apply to W.E.F. 01st July 2020 for deposits that are lesser than 2 Crore and from 01st August 2020 for deposits that are between Rs.2 Crore and Rs.10 Crore.

Senior Citizen FD Rates for Less Than 1 Crore Deposits W.E.F. 01.07.2020

FD Tenure

FD rates

Between 7 & 14 days

3.75 percent

Between 15 & 29 days

3.75 percent

Between 30 & 45 days

3.75 percent

Between 46 & 90 days

4.00 percent

Between 91 & 179 days

4.75 percent

Between 180 & 270 days

5.15 percent

Between 271 days & less than 1 year

5.25 percent

333 days

5.25 percent

One year

6.00 percent

444 days

6.00 percent

555 days

6.00 percent

More than 1 year and up to 3 years

6.00 percent

More than 3 years and up to 5 years

6.05 percent

More than 5 years and up to 10 years

6.05 percent

Note: The aforementioned PNB FD rates for senior citizens will apply to W.E.F. 01st July 2020.

PNB NRE Fixed Deposit Rates W.E.F. 01.08.2020

FD Tenure

FD rates for deposits lesser than 2 crore rupees W.E.F. 01. July.2020

FD rates for deposits ranging between 2 and 10 crores W.E.F. 01. August.2020

1 year

5.25 percent

2.90 percent

555 days

5.25 percent

2.90 percent

1 & 3 years

5.25 percent

2.90 percent

3 & 5 years

5.25 percent

2.90 percent

5 & 10 years

5.25 percent

2.90 percent

Note: The aforementioned PNB Fixed Deposit rates are applicable W.E.F. 01st July 2020 for deposits that are less than Rs.2 Crore and W.E.F. 01st August 2020 for deposits that are between Rs.2 Crore and Rs.10 Crore. No preferential rates are provided for senior citizens in this category.

PNB Short-Term FD Rates

Punjab National Bank provides several short-term FD options for those who wish to enjoy quick returns in a short period.

You can choose to invest for a period ranging from 7 days to less than 365 days. Also, you can earn great returns on these short-term FDs by PNB bank ranging from 3.00 percent to 4.50 percent on yearly basis.

PNB Medium-Term FD rates

PNB medium-term fixed deposits offer a rate of interest ranging from 4.50% p.a. to 5.30 percent per annum for anytime between 1 and 5 years.

For 1-year deposits, the PNB FD interest rate is 5.25 percent. And for deposits between 3 and 5 years, the applicable rate of interest is 5.30 percent.

PNB Long-Term FD Rates

Long-term fixed deposits are an ideal option for people who want to invest their money for a tenure of 5 to 10 years.

The interest rate on long-term FDs is 5.30 percent. You can also put your money in tax-saver FDs with a 5-year of the lock-in period. You can claim tax deductions under Sec. 80C of the Income Tax Act for investments up to 1.5 lakh rupees.

PNB FD Rates for Senior Citizens

Senior citizens get higher PNB FD interest rates on their fixed deposits. Investors above the age of 60 years are offered an additional PNB FD interest rates i.e. 0.50 percent p.a. more than the regular depositors.

For short-term FD of minimum 7 to 14 days, generally, the rate of interest is 3.00 percent. But for senior citizens, the rate of interest is 3.50 percent. And for long-term deposits ranging from 5 to 10 years, the rate of interest that is applied is 5.80 percent

Loan Against Fixed Deposit PNB

Punjab National Bank offers loans up to 90% of the deposited amount. It is to be noted that PNB does not offer loans against FD of some other banks. The bank offers loans against its fixed deposit at the interest rate of 4% to 6.25%. The maximum tenure of the loan is restricted up to the maximum FD tenure.

Who Should Invest in Punjab National Bank FD?

 For saving tax, you can invest in PNB Tax Saver Fixed Deposit Scheme. Your deposited money is locked for a minimum of five years. The amount in which you have invested can be claimed for tax deductions under section 80C of the IT Act, 1961. In fixed deposits schemes, you can save a maximum of Rs.1.5 lakh. For bulk fixed deposits that are more than Rs.15 lakh and up to Rs.10 Crore, you can invest in PNB Uttam – Scheme that is noncallable. In this scheme, higher rates of interest are offered.

If you want to save for the education of your girl child, then you can invest in the PNB Balika Shiksha Fixed Deposit scheme. This FD scheme comes with a minimum deposit of three thousand rupees. You can take this scheme only if your girl child is enrolled in the ninth grade of a government school. The girl child will be the scheme's beneficiary and will as well be able to withdraw money from this fixed deposit when she becomes 18 years old. If you want to save tax on your gains from capital like stocks, property, etc. then the Capital Gain FD scheme will be of your use.

PNB FD Calculator

A fixed deposit calculator calculates the maturity amount of your FD. You can use an online fixed deposit calculator for knowing the returns of your investment, which depends on the following factors:

  • Deposited Amount: The amount that you have invested in your fixed deposit account is known as the deposited amount. The minimum amount that you have to deposit in your ONB FD scheme is Rs.1000.
  • Rate of Interest: The PNB FD interest rates vary as per the tenure of the deposit.
  • Tenure: The maturity amount as well depends on the period for which you have invested your money. Generally, the tenure of the FD ranges from seven days to 10 years.
  • Compounding Frequency: The frequency of compounding your invested amount also defines the final maturity amount. This frequency can be monthly, half-yearly, quarterly, or yearly.

Eligibility Criteria to Open a Fixed Deposit Account in Punjab National Bank

Any of the following can open invest in PNB FDs-

  • Individuals
  • Companies
  • A minor and a guardian can open a joint account
  • Companies
  • Partnership
  • Any Institute and associations
  • NRIs

Documents Required

To start a fixed deposit account, the following documents are required-

  • Application Form
  • Details on the Aadhaar Card
  • 2 photographs
  • Identity proof
  • Address proof
  • A copy of PAN Card
  • Form 60 or 61

PNB Fixed Deposits - FAQs

Written By: PolicyBazaar - Updated: 08 October 2020
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