PNB Fixed Deposit Rates 2023: Punjab National Bank’s Regular Fixed Deposit is designed to ensure the steady and effortless growth of your earnings. With attractive interest rates, multiple interest payout options, and no penalties on premature closure, it stands out as an ideal investment for your hard-earned money.
PNB offers a diverse range of Fixed Deposits (FDs) that not only provide a good rate of return but also come with various additional benefits. Some notable features of PNB FDs include a nomination facility, flexible tenure options, auto-renewal facility, various interest payout options, and the availability of loan/overdraft facilities. Opening a PNB FD online is a hassle-free process that can be completed with just a few clicks, making it a convenient and paper-free experience.
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- 1 PNB FD Rates Key Benefits
- 1.1 PNB FD Interest Rates 2023
- 1.2 Interest Rates for Single Domestic/NRO/NRE Term Deposits (TD) Up To Rs.2 Cr. (Callable)
- 1.3 Conditions
- 1.4 PNB Domestic/NRO Term Deposit FD Rates for Deposits Between Rs.2 Crore and Rs.10 Crore
- 1.5 PNB FD Eligibility Criteria
- 1.6 How to Open a PNB Fixed Deposit Account
- 1.7 Eligibility
- 1.8 PNB Fixed Deposit Rates 2023 FAQ
PNB FD Rates Key Benefits
A Fixed Deposit (FD) stands out as one of the most favored financial instruments among the general saving public in India, offering a higher rate of interest compared to a regular savings account. It is considered one of the safest investment options that yields substantial returns over a defined period.
PNB provides competitive rates, flexibility, and security for your fixed deposits, with additional benefits for senior citizens who enjoy even higher interest rates. Take advantage of the convenience of booking your deposit through Netbanking, and benefit from the automatic renewal facility. The minimum investment amount can be as low as INR 1000/-.
PNB FD Interest Rates 2023
The applicable Fixed Deposit Interest Rates for the specified tenures are outlined below. These Fixed Deposit Interest rates, effective from 1st July 2023, are applicable to Retail Domestic Term Deposits ‘Below Rupees One Crore.’ The revised interest rates for Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore) are as follows:
(All figures in % per annum)
- For Domestic & NRE*/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore)
Domestic/NRO $ TD Less Than Rs.2 Cr. W.E.F. 1st July 2023
Interest Rates for Single Domestic/NRO/NRE Term Deposits (TD) Up To Rs.2 Cr. (Callable)
Period | For Public | Senior Citizens | Super Senior Citizens |
---|---|---|---|
7 to 14 Days | 3.50 | 4.00 | 4.30 |
15 to 29 Days | 3.50 | 4.00 | 4.30 |
30 to 45 Days | 3.50 | 4.00 | 4.30 |
46 to 90 Days | 4.50 | 5.00 | 5.30 |
91 to 179 Days | 4.50 | 5.00 | 5.30 |
180 to 270 Days | 5.50 | 6.00 | 6.30 |
271 Days to < 1 Year | 5.80 | 6.30 | 6.60 |
1 Year | 6.75 | 7.25 | 7.55 |
>1 Year to 443 Days | 6.80 | 7.30 | 7.60 |
444 Days | 7.25 | 7.75 | 8.05 |
445 Days to 2 Years | 6.80 | 7.30 | 7.60 |
Above 2 years & upto 3 years | 7.00 | 7.50 | 7.80 |
Above 3 years & upto 5 years | 6.50 | 7.00 | 7.30 |
Above 5 years & upto 10 years | 6.50 | 7.30 | 7.30 |
- Annualized Yield as a percentage at the start of the slab.
- Annualized Yield as a percentage at the beginning of the slab.
Conditions
The annualized yield in percentage terms at the beginning of the slab is a key factor in determining the revised interest rates. These rates are applicable to both fresh deposits and the renewal of existing deposits, starting from 1st July 2023.
- Rates for deposits ranging from Rs. 2 Crore to Rs. 10 Crore are not subject to additional interest rates for senior citizens, staff accounts, etc.
- Senior citizens are entitled to an extra rate of interest of 50 basis points (bps) over applicable card rates for all maturities on domestic deposits of less than Rs. 2 Crore. For staff members and retired staff members who are also senior citizens, the maximum rate of interest allowed over applicable card rates is 150 bps, except for the PNB Tax Saver Fixed Deposit scheme, where the maximum rate allowed is 100 bps.
PNB Domestic/NRO Term Deposit FD Rates for Deposits Between Rs.2 Crore and Rs.10 Crore
Period | Interest Rate |
---|---|
7 days to 14 days | 6.00 |
15 days to 29 days | 6.00 |
30 days to 45 days | 6.00 |
46 days to 60 days | 6.40 |
61 days to 90 days | 6.25 |
91 to 179 days | 6.50 |
180 days to 270 Days | 6.50 |
271 days to < 1 year | 6.50 |
1 year | 7.00 |
>1 year to 2 years | 6.50 |
>2 years to 3 years | 6.50 |
>3 years to 5 years | 6.25 |
>5 years to 10 years | 5.60 |
Note: The Fixed Deposit (FD) interest rates are applicable as of May 18, 2023, and are subject to change at the discretion of the bank.
PNB FD Eligibility Criteria
Both new and existing customers of Punjab National Bank have the opportunity to open a Fixed Deposit. The following types of customers are eligible to open fixed deposit accounts: individuals, minors, proprietorships, Hindu Undivided Families (HUF), registered and unregistered bodies, cooperative societies, trusts, partnerships, non-governmental organizations (NGOs), and private limited entities.
How to Open a PNB Fixed Deposit Account
Visit the nearest branch of Punjab National Bank, and our Relationship Manager will guide you through the application process. You can also reach out via the toll-free numbers 1800 180 2222 or 1800 103 2222.
Eligibility
- Resident Indians
- Hindu Undivided Families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
PNB Fixed Deposit Rates 2023 FAQ
The fixed deposit rates offered by PNB (Punjab National Bank) are subject to change. For the latest rates, it is recommended to check with the bank or visit their official website.
Yes, both new and existing customers of Punjab National Bank can open a Fixed Deposit account.
PNB allows various types of customers to open fixed deposit accounts, including resident individuals, Hindu Undivided Families (HUF), sole proprietorship firms, partnership firms, limited companies, trust accounts, and others.
For details on processing charges, customers are advised to refer to the official PNB website or visit the nearest branch.
The maximum repayment period for PNB fixed deposits is up to 10 years, and the tenure may vary depending on the specific terms of the deposit.