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 The money deposited cannot be increased or withdrawn during the tenure of the FD.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.

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%

Benefits of Opening a PNB Fixed Deposit Account:

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

Best FD Interest Rates on PNB Deposit

The highest FD interest rate that you can get on PNB Fixed Deposits is 6.85% per annum for all the deposits less than 1 crore rupees. On the other hand, senior citizens can get an interest rate of 7.35% per annum for similar deposits.

PNB FD Interest Rate Table W.E.F. 01.10.2019

FD Tenure

FD rates for deposits lesser than 2 crore Rupees

FD rates for deposits ranging between 2 and 10 crores

Between 7 & 14 days

4.50 percent

4.50 percent

Between 15 & 29 days

4.50 percent

4.50 percent

Between 30 & 45 days

4.50 percent

4.50 percent

Between 46 & 90 days

5.50 percent

5.50 percent

Between 91 & 179 days

5.50 percent

5.50 percent

Between 180 & 270 days

6.00 percent

6.00 percent

Between 271 days & 1 year

6.00 percent

6.00 percent

1 year

6.50 percent

6.50 percent

555 days

6.50 percent

6.50 percent

1 & 3 years

6.40 percent

6.40 percent

3 & 5 years

6.25 percent

6.25 percent

5 & 10 years

6.50 percent

6.50 percent

Senior Citizen FD Rates for Less Than 1 Crore Deposits W.E.F. 01.10.2019

FD Tenure

FD rates

Between 7 & 14 days

5.00 percent

Between 15 & 29 days

5.00 percent

Between 30 & 45 days

5.00 percent

Between 46 & 90 days

6.00 percent

Between 91 & 179 days

6.00 percent

Between 180 & 270 days

6.50 percent

Between 271 days & 1 year

6.50 percent

1 year

7.00 percent

555 days

7.00 percent

1 & 3 years

6.90 percent

3 & 5 years

6.75 percent

5 & 10 years

7.00 percent

NRE Fixed Deposit Rates  W.E.F. 01.10.2019

FD Tenure

FD rates for deposits lesser than 2 crore rupees

FD rates for deposits ranging between 2 and 10 crores

1 year

6.50 percent

6.50 percent

555 days

6.50 percent

6.50 percent

1 & 3 years

6.40 percent

6.40 percent

3 & 5 years

6.25 percent

6.25 percent

5 & 10 years

6.50 percent

6.50 percent

PNB Short-Term FD Rates

Punjab National Bank provides a number of short-term FD options for those who wish to enjoy quick returns in a short span of time.

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 5.75 percent to 6.50 percent on yearly basis.

PNB Medium-Term FD rates

PNB medium-term fixed deposits offer a rate of interest ranging from 6.25% p.a. to 6.85 percent per annum for anytime between 1 and 5 years.

For 1-year deposits, the rate of interest is 6.75 percent. And for deposits between 3 and 5 years, the applicable rate of interest is 6.35 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 6.25 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 returns on their PNB fixed deposits. Investors above the age of 60 years are offered an additional rate of interest 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 5.70 percent. But for senior citizens, the rate of interest is 6.20 percent. And for long-term deposits ranging from 5 to 10 years, the rate of interest that is applied is 6.75 percent

How to Calculate Interest Rate on PNB Fixed Deposits?

You can easily calculate the interest amount that you are likely to earn from your PNB fixed deposits by using an FD rate calculator.

It is quite helpful for prospective investors to ascertain the amount to be invested in order to best returns. To evaluate the total profit from your PNB FD, there are certain factors that you need to take into consideration -

Factors Affecting the Maturity Amount of your FD -

  • The Rate of Interest: It is the rate at which you will get returns on the invested amount. Remember that the rate of interest varies with the tenure of your FD.
  • Time Period: Along with factors such as the principal amount and the rate of interest, the duration of the investment is also a crucial factor. Based on your FD tenure the rate of interest is decided.
  • Amount Deposited: It is the main deciding factor. The interest is earned on the principal amount and then the maturity amount is calculated.
  • Compounding Frequency: The interest on fixed deposits is either compounded quarterly, monthly, yearly and half-yearly. This time interval plays a pivotal role in determining the maturity value on completion of the tenure of the term deposits.
  • Tax Deducted at Source: The amount of TDS makes a huge difference in the total maturity amount of the deposits.

PNB FD Interest Calculator

With the help of an FD interest calculator, you can determine the maturity value of your fixed deposits. You just need to provide the required details like the principal amount, tenure, rate of interest etc.

and you will get the results online in a matter of a few seconds.

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

FAQs

Written By: PolicyBazaar - Updated: 31 July 2020
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