PNB RD Interest Rates

What is Punjab National Bank Recurring Deposit?

A Punjab National Bank Recurring Deposit works through a fixed monthly instalment, with a minimum deposit of ₹100 per month and additional contributions allowed in multiples of ₹1 thereafter. The applicable RD interest rates vary by tenure and determine the returns on the accumulated balance. 

The recurring deposit by Punjab National Bank encourages savings on a regular basis. Every monthly deposit will receive interest starting on the date of payment up to the time of maturity and thus earlier deposits receive more interest as compared to the subsequent deposits. You can use the RD calculator as well to estimate accurate returns.

If all instalments are paid regularly, interest is calculated on the total balance and compounded periodically as per bank rules. In case of pending instalments at maturity, interest is calculated on daily balances with half-yearly compounding. 

Punjab National Bank RD Interest Rates

The following table provides the updated Punjab National Bank recurring deposit interest rates applicable across various tenures.

PNB Recurring Deposit Rates for Deposits Below ₹3 Crore

*Punjab National Bank RD Interest Rates w.e.f. February 1, 2026

PNB Recurring Deposit Rates for Deposits Above ₹3 Crore

*Punjab National Bank RD Interest Rates w.e.f. February 1, 2026

Note: For Punjab National Bank recurring deposits of ₹3 crore and above, no additional interest is provided for senior citizens, staff accounts, or other special categories.

Types of Punjab National Bank Recurring Deposit

Punjab National Bank provides various recurring deposit (RD) schemes to facilitate disciplined savings with fixed or flexible monthly deposits. The schemes differ with regard to deposit flexibility, eligibility, and usage.

1. PNB Swechha Jama Yojana (Flexi Recurring Deposit)

   PNB Swechha Jama Yojana is a recurring scheme that is flexible and helps investors to save on a regular basis with variable monthly deposits. Punjab National Bank Flexi RD will provide the lowest monthly instalment of ₹100 and will allow depositing more depending on the convenience with a limit of ₹2,50,000 per investor as the maximum instalment per month. 

   PNB Swechha Jama Yojana is open to investors and other qualified customers with a tenure of 6 months to 60 months. Other facilities that are offered by the scheme include a loan against the RD balance, benefits of nomination, and extra interest to eligible senior citizens.

2.  PNB Pranam Recurring Deposit

   PNB Pranam Recurring Deposit is a scheme that allows investors to save through fixed monthly contributions starting from ₹100 in multiples of ₹1, with a maximum monthly instalment of ₹25 lakh per customer. It is available to investors singly or jointly, minors, Hindu Undivided Families, firms, companies, institutions, and government bodies, with a tenure ranging from 6 months to 120 months. PNB Pranam RD offers facilities such as standing instructions, loan against RD balance, premature withdrawal with 1% penal interest, and nomination benefits.

3.  PNB Recurring Deposit Scheme (e-RD)

   PNB Recurring Deposit Scheme e-RD is an online recurring deposit facility available only to existing customers with an operative savings or current account and internet banking access. The account can be opened digitally with valid PAN details, and the tenure and interest rates apply as per the bank’s card rates. 

   The mode of operation, nomination, and senior citizen benefits remain the same as the funded account, and maturity proceeds are credited to the same account. Nomination facility is available, and investors must visit the parent branch for closure or premature closure of the e-RD account.

4.  PNB Special Recurring Deposit Product

   PNB Special Recurring Deposit Product is offered to government institutions, privately owned institutions, and PSUs as well as corporate organisations to their employees. The account is opened with the name of the institution of employee accounts with at least 10 employees or 75% of the eligible employees, whichever is lesser. 

   The minimum instalment begins at ₹10 according to the deductions in the provident fund of employees and it can be increased in multiples of ₹1.

Key Features of Punjab National Bank RD

A Punjab National Bank Recurring Deposit has several features that will help in saving regularly every month. Key features include:

• Standing Instruction Facility:  Punjab National Bank has a standing instruction facility that is applicable to RD. It allows you to pay the monthly payment automatically out of the linked account, which helps to pay on time.
• Loan Against RD: The Punjab National Bank loan against RD gives investors the option of borrowing against a recurrent deposit and availing the loan without closing the deposit.
• Maximum Monthly instalment: The maximum monthly instalment of a Punjab National Bank Recurring Deposit is ₹25 lakh per customer per month.
• Additional Interest for Senior Citizens: Senior citizens aged 60 to 80 years get 0.50% extra interest for deposits up to 5 years and 0.80% extra for deposits above 5 years. Super senior citizens aged 80 years and above get 0.80% extra interest across all tenures. No additional interest applies to recurring deposits of ₹3 crore and above.
• Premature Withdrawal Facility: Punjab National Bank RD premature withdrawal facility will enable the customers to access their recurring deposit before it reaches maturity. In such instances, a penal interest of 1% is charged.
• Delayed Instalment Facility: Delayed instalments may be deposited prior to maturity at a nominal penalty of ₹1 for ₹100 of the amount per month.

How to Open a Punjab National Bank RD

Punjab National Bank Recurring Deposit is available to be opened online or in a bank branch. The procedure is straightforward and involves minimal account information and records.

Online Method

Punjab National Bank RD may be initiated via internet banking or mobile banking without necessarily visiting bank. Key steps are mentioned below:

• Log in to Internet banking or Mobile Banking: Log in using your login details through the PNB ONE Mobile application or through the official Punjab National Bank site.
• Choose Recurring Deposit Choice: Access the section of deposits and select the option of opening a new recurring deposit account.
• Fill in Deposit Information: Enter the amount of monthly instalment, term and other necessary instructions.
• Select Linked Account: Choose the PNB savings account or current account from which the monthly instalment will be deducted.
• Review and Submit Application: Verify all details and accept the terms and conditions before submitting the request.
• Receive Confirmation: Once submitted, the RD account is opened and confirmation details are generated.

Offline Method

Punjab National Bank RD can also be opened by visiting the nearest branch and presenting the application personally. The main steps to start PNB RD in offline mode include:

• Visit the Nearest Branch: Go to the nearest Punjab National Bank branch and request the recurring deposit application form.
• Fill the Application Form: Provide personal details, account information, monthly instalment amount, and tenure.
• Submit Required Documents: Provide identity proof, address proof, and photographs if required.
• Select Payment Instructions: Select standing instructions to be auto-debited or manual instalment deposits.
• Deposit First Instalment: This instalment will cover the first instalment of the request.
• RD Account Detail: The bank opens an RD account and provides confirmation details.

Eligibility Criteria for Punjab National Bank RD

Punjab National Bank predetermines some eligibility criteria to open a recurring deposit account. Some of the key eligibility criteria are outlines below: 

• Investors Eligibility: Recurring deposits may be opened by customers including joint account holders, minors under guardianship, Hindu Undivided Families (HUF), proprietorships, partnership firms, companies, corporate bodies, associations, clubs, societies, trusts and government or quasi-government organisations.
• Age Requirement: Age is not a limitation to setting up a PNB RD. A minor can open an account when accompanied by a parent or legal guardian.
• Documentation Requirement: Investors are mandated to provide valid KYC documents such as identity proof, address proof and photographs among others, as required by the bank.
• Bank Account Requirement: The investor is supposed to open either savings or current account with Punjab National Bank where they can make monthly instalments or set standing instructions to deposit RD automatically.

Key Takeaways

Punjab National Bank recurring deposits enable monthly savings of a fixed amount over a tenure of between 6 months and 10 years. The scheme requires a minimum deposit of ₹100 monthly and further contributions in multiples of ₹1 can be made. The rates applied in PNB RD depend on the available term deposit rates charged by the bank and are currently between 5.60% to 6.40% per annum to general citizens and 6.10% to 6.90% per annum to senior citizens, depending on the tenure.