Investor Education
PNB Bank FD Interest Rates 2023
Know About PNB Bank FD Interest Rates
Punjab National Bank, simply referred to as PNB, is one of the oldest banks in India, with its history dating back to 1895. It operates more than 10,000 branches across the country, with extensive networks in the metro, urban, semi-urban as well as rural regions. The bank offers a wide range of financial services for its individual as well as corporate clients – amongst these services is the fixed deposit facility.
PNB or Punjab National Bank provides a number of FD plans to suit the needs and feasibility of the investors. These plans are classified based on various factors like deposit amount, tenure among others. It also provides a special FD scheme to provide financial assistance and aid to road accident victims. With security provided by the PNB along with facilities like overdraft and premature withdrawal.
Watch this Video to get current FD of Punjab National Bank :
In this article, we are going to know details about the Fixed Deposits scheme offered by pnb bank.
Eligibility
| Who can open | Resident Individuals, HUF, Partnership firms, Sole Proprietorship firms, Family Trust, Clubs, societies, Association and Companies including group companies. |
| Can NRI deposit in Bajaj finance FD? | Yes |
| Investment Amount | Min: Rs. 1,000 Max: No Limit |
| Tenure | Min: 3 months Max: 10 years |
Documents Required
- Passport size photographs - Latest.
- Proof of Address which can be any documents such as passport, Driving License, Voter ID Card, Driving License, Aadhar Card, etc.
- Certified proof of signature which can be any documents among passport, PAN or License.
- Certified proof of identity which can be any document such as PAN, Passport, Voter ID, Aadhar etc.
Key Features
Some of the key features of IndusInd FDs includes:
Different options:
They provide different term deposits such as plans for road accident victims, multiple benefits, sugam term deposits, Ordinary, Special and Anupam Term Deposit Schemes.
Auto-renewal and nomination:
Both these facilities are provided to the investor’s option for this scheme which adds to the investor benefit.
Partial withdrawals:
These FDs allow investors to partially withdraw their funds from the FD account in return for some nominal charge. This provides investors with more cushion in case of emergencies.
Current (Revised) Punjab National Bank FD Rates 2023
Domestic Term Deposits of Less Than Rs. Two CroresHere are the latest PNB FD interest rates for regular citizens depositing up to Rs. two crores.
| Period | Per Annum Interest Rates(w.e.f. 1st January 2023) |
| 7 to 14 days | 3.50 |
| 15 to 29 days | 3.50 |
| 30 to 45 days | 3.50 |
| 46 to 90 days | 4.50 |
| 91 to 179 days | 4.50 |
| 180 days to 270 days | 5.50 |
| 271 days to less than 1 year | 5.50 |
| 1 year | 6.75 |
| Above 1 year to 599 days | 6.75 |
| 600 days | 7.25 |
| 601 days to 665 days | 7.25 |
| 666 days | 7.25 |
| 667 days to 2 years | 6.75 |
| Above 2 year & up to 3 years | 6.75 |
| Above 3 years & up to 5 years | 6.50 |
| Above 5 years & up to 10 years | 6.50 |
Here are the latest PNB FD interest rates for senior citizens depositing up to Rs. two crores.
| Period | Per Annum Interest Rates(w.e.f. 1st January 2023) |
| 7 to 14 days | 4.30 |
| 15 to 29 days | 4.30 |
| 30 to 45 days | 4.30 |
| 46 to 90 days | 5.30 |
| 91 to 179 days | 5.30 |
| 180 days to 270 days | 6.30 |
| 271 days to less than 1 year | 6.30 |
| 1 year | 7.55 |
| Above 1 year to 599 days | 7.55 |
| 600 days | 7.55 |
| 601 days to 665 days | 7.55 |
| 666 days | 7.75 |
| 667 days to 2 years | 7.55 |
| Above 2 year & up to 3 years | 7.55 |
| Above 3 years & up to 5 years | 7.30 |
| Above 5 years & up to 10 years | 7.30 |
PNB offers general public an interest rate of 5.75 for fixed deposits of up to five years and interest rate of 5.65 for deposits of five to ten years. General senior citizens can earn up to 6.25 per cent interest rate on their deposits of up to five years and 6.15 per cent on deposits of five to ten years.
Other Banks Fixed Deposit Interest Rates (w.e.f January 2023)| Bank Name | Cumulative Deposit |
| SBI Bank Fixed Deposit Rates | 3.5% to 7.25% |
| Axis Bank Fixed Deposit Rates | 3.5% to 8.01% |
| ICICI Bank Fixed Deposit Rates | 3.5% to 7.50% |
| HDFC Bank Fixed Deposit Rates | 3.5% to 7.75% |
| IndusInd Bank Fixed Deposit Rates | 4% to 7.85% |
| Federal Bank Fixed Deposit Rates | 3.5% to 7.75% |
| Canara Bank Fixed Deposit Rates | 3.25% to 7.65% |
| Union Bank of India Fixed Deposit Rates | 3.5% to 7.8% |
Q. What is Saving Fund Account Balance below Rs. 10 Lakh ?
A. The Revised Saving Deposit Interest Rate is 2.70% p.a.
Q. What is the difference between a Punjab National Bank tax-saver fixed deposit and a regular fixed deposit ?
A. As the name suggests, a tax-saver FD offers depositors a chance to save tax – allowing them to claim a tax exemption of up to INR 1,50,000 in a financial year under Section 80C of the Income Tax Act, 1961. However, Punjab National Bank regular term deposits do not offer this option. It is noteworthy that tax-saver term deposits have a lock-in period of five years.
Q. What factors affect the Punjab National Bank FD interest rate ?
A. There are several factors that determine the applicable interest rate on your PNB term deposit. These include the deposit amount. For instance, Punjab National Bank fixed deposit interest rates are different for deposits of amounts above and below INR two crore. Moreover, the deposit period as well as the age of the depositor also impacts the interest rate. Punjab National Bank offers an additional 0.50 percent interest to depositors aged 60 years or above.
Q. Do revised Punjab National Bank FD interest rates apply to existing deposits ?
A. No. The revised Punjab National Bank fixed deposit rates 2023 only apply to new and renewed deposits.
Q. What is the maturity period for Punjab National Bank fixed deposits ?
A. The maturity period for PNB FDs range from seven days to ten years. You can choose the one which suits you the best.
Q. What is the PNB FD interest rate for regular citizens ?
A. The FD interest rates offered by Punjab National Bank range from 3.50 to 7.75 percent depending on the duration of the deposit.
Q. Does PNB offer tax saver fixed deposits ?
A. Yes. You can enjoy tax savings with Punjab National Bank Fixed Deposits. Please note that the minimum duration for these deposits is two years.
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