Punjab National Bank FD Rates
A fixed deposit account is one among the most common savings instrument. The interest rates with fixed deposits are always higher when compared to a regular savings account. The interest rate applies until the maturity date of the account.
Punjab National Bank offers fixed deposit products to its customers like any other public service bank. There is less risk involved with a fixed deposit account.
PNB FD Interest Rates
Fixed deposit rates in PNB are competitive, and they differ based on the tenure of the account. Like every other bank, FD interest rates in PNB change as per the market rates. This means the current interest rate will not be the same in a few years from now.
Types of PNB Fixed Deposit
The PNB FD rates vary based on the tenure of the fixed deposit account. Therefore, the interest rate on FD in PNB is lower for a short-term account when compared to a medium term or a long-term account.
The PNB interest rates on fixed deposits for senior citizens are slightly higher than the regular interest rates. This is applicable for all tenures.
PNB Interest Payouts
The interest rate payouts in PNB are done every quarterly or monthly depending on the customers choice. The minimum deposit amount is very less when compared to the other public sector banks and private ones.
A risk-free saving tool with competitive interest rates is what PNB fixed deposit scheme is all about.
Punjab National Bank Fixed Deposit Rates
It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below.
For Domestic Deposits – Less than Rs. 1 cr (As on Jun 01, 2017)
For Domestic Deposits – Rs. 1 cr to Rs. 10 cr (As on Feb 03, 2017)
Tax Saver FD (Max Deposit – 1 LPA)
- The amount invested in Fixed Deposit with a tenure of 5 years with Punjab National Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
- The applicable tax will be deducted at source, i.e. Punjab National Bank, in case the annual interest earned crosses Rs. 10,000.
For NRE Fixed Deposit – Less than Rs. 1 cr (As on May 03, 2017)
For NRE Fixed Deposit – Rs. 1 cr to Rs. 10 cr (As on Feb 03, 2017)