Comparative Overview of PNB Fixed Deposit Schemes
Punjab National Bank (PNB) offers a wide array of Fixed Deposit (FD) schemes tailored to different financial needs and customer profiles. From standard savings plans to exclusive schemes for senior citizens and NRIs, PNB ensures flexibility, safety, and attractive interest earnings. Here’s a detailed comparative guide to help you make an informed choice.
PNB Ordinary Term Deposit Scheme
This basic FD scheme is ideal for short-term savers.
- Deposit Range: Rs.100 to Rs.1,99,99,999
- Tenure: 7 days to 179 days
- Special Feature: Demand Loan/Overdraft facility on deposits of Rs.10,000 and above.
PNB Tax Shield Fixed Deposit
A tax-saving FD scheme under Section 80C of the Income Tax Act.
- Deposit Limit: Rs.100 (min), Rs.1.5 lakh (max per FY)
- Tenure: 5 to 10 years
- Lock-in Period: 5 years
- Interest Options:
- Income Option: Monthly, quarterly, half-yearly, or yearly payouts
- Maturity Option: Interest compounded quarterly and paid at maturity
- Special Benefits:
- Extra 0.50% for senior citizens, 1% for staff
- 0.80% additional for super senior citizens
- Loan or premature withdrawal allowed only after 5 years.
PNB Palaash Green Fixed Deposit Scheme
A unique scheme promoting eco-conscious investing.
- Deposit Range: Rs.5,000 to Rs.10 crore
- Tenure: 1204 days and 1895 days
- Payout Mode: Cumulative or non-cumulative
- Key Restrictions:
- No conversion to other FD types
- Auto-renewal, nomination, and overdraft facilities are available
PNB Pranam Fixed Deposit Scheme
Designed for individuals aged 55 years and above.
- Deposit Amount: Rs.100 to Rs.1,99,99,999
- Tenure: 1 to 10 years (both options available)
- Benefits:
- 0.50% extra for individuals aged 60+
- Premature withdrawal is allowed with a lower rate if applicable
- Loan/OD available (not for blind or illiterate account holders)
PNB Uttam – Non-Callable Deposit Scheme
Targeted at large depositors, this scheme ensures higher returns.
- Minimum Deposit: Rs.15 lakh
- Tenure:
- Rs.15 lakh–10 crore: 91 days to 10 years
- Rs.10 crore+: 91 days to 1 year
- Interest Modes:
- Income Option: Regular payouts
- Maturity Option: Quarterly compounding
- Notable Limitations:
- No premature or partial withdrawal
- No auto-renewal or conversion permitted
PNB E-Fixed Deposit Scheme
An online-only FD scheme for net banking users.
- Eligibility: KYC-compliant users with active savings/current accounts
- Features:
- Auto-renewal for maturity value
- TDS certificate, nomination, and senior citizen benefits as per linked account
- Premature withdrawal via net banking
PNB Bulk Fixed Deposit Scheme
Structured for high-net-worth individuals (HNWIs) and institutions.
- Minimum Deposit: Rs.10 crore+
- Tenure: 7 days to 10 years
- Options:
- Income Mode: Monthly/quarterly payout
- Maturity Mode: Quarterly compounding
- No auto-renewal or withdrawal is allowed
- Maturity value calculated on quarterly basis for reinvestment
Motor Accident Claims Annuity Deposit (MACAD)
Created for victims of road accidents under court-compensated claims.
- Deposit Amount: Based on annuity, minimum Rs.1,000/month
- Tenure: 3 to 10 years (can exceed under court orders)
- Key Features:
- No loan facility
- Premature closure only with court permission
FD Scheme for Road Accident Victims
Another court-compensated FD, this scheme offers preferential interest.
- Tenure: 1 to 10 years
- Interest: 1% higher than regular FDs
- Special Restrictions: No withdrawal or loan facility allowed
PNB Growth Fixed Deposit Scheme
An exclusive FD for large depositors.
- Deposit Range: Rs.2 crore to Rs.10 crore
- Tenure: 7 days to 10 years
- Interest Modes:
- Income Option: Monthly/quarterly payouts
- Maturity Option: Reinvestment with quarterly compounding
- Partial withdrawal allowed with Rs.2 crore minimum balance
- Penalty: 1% interest rate reduction on early partial withdrawals
PNB Floating Rate Fixed Deposit
A scheme with interest linked to market rates.
- Deposit Range: Rs.1,000 and above
- Tenure: 7 days to 10 years
- Withdrawal Rules:
- Below Rs.10 crore: 1%/0.5% penalty based on tenure
- Above Rs.10 crore: No penalty but HO approval required
- Overdraft available on Rs.10,000+ deposits
PNB MIBOR Linked Notice Deposit Scheme
Targeted at corporates and HNIs, linked to MIBOR rates.
- Minimum Deposit: Rs.10 crore
- Tenure: 7 to 60 days
- No penalties on premature or part withdrawals
- No OD facility, auto-renewal is only for 14 days
PNB NRE Rupee Sugam Term Deposit
For Non-Resident Indians, offering convenient deposit and withdrawal.
- Minimum Deposit: Rs.10,000
- Tenure: 1 to 10 years
- Withdrawal: Premature and partial permitted
- Income and Maturity options available
PNB NRO Rupee Sugam Term Deposit
Catered to NRIs with income earned in India.
- Deposit Range: Rs.10,000 to Rs.10 crore
- Tenure: 46 days to 10 years
- Special Features:
- Joint accounts with residents or NRIs
- No penalty on withdrawals in Rs.1,000 multiples
- OD/loan and base branch change allowed on request
| FD Scheme Name | Min Deposit | Max Deposit | Tenure | Special Features |
|---|---|---|---|---|
| PNB Ordinary Term Deposit | Rs.100 | Rs.1,99,99,999 | 7 – 179 days | Loan/OD available on Rs.10,000+ |
| PNB Tax Shield | Rs.100 | Rs.1.5 lakh/year | 5 – 10 years | Lock-in of 5 years, tax saving, extra interest for senior/staff/super senior citizens |
| PNB Palaash Green FD | Rs.5,000 | Rs.10 crore | 1204/1895 days | Eco-friendly, cumulative/non-cumulative, no conversion |
| PNB Pranam FD | Rs.100 | Rs.1,99,99,999 | 1 – 10 years | For 55+, extra rate for 60+, OD not for blind/illiterate |
| PNB Uttam – Non-Callable | Rs.15 lakh | Unlimited | 91 days – 10 years | No premature withdrawal, no auto-renewal, OD at discretion |
| PNB E-FD | No specific minimum | As per account balance | As per selected term | Internet banking, auto-renewal, TDS certificate, PAN required |
| PNB Bulk FD | Rs.10 crore+ | No limit | 7 days – 10 years | No auto-renewal or part withdrawal, options based on deposit type |
| PNB MACAD | Based on annuity | Court-directed | 3 – 10 years+ | For accident claimants, court approval needed for premature closure |
| FD for Road Accident Victims | Court-directed | Court-directed | 1 – 10 years | 1% extra interest, no premature exit, no loans |
| PNB Growth FD | Rs.2 crore | Rs.10 crore | 7 days – 10 years | 1% penalty on part withdrawal, reinvestment/income options |
| PNB Floating Rate FD | Rs.1,000 | >Rs.10 crore (HO approval) | 7 days – 10 years | Linked to floating rates, penalties based on deposit size and tenure |
| PNB MIBOR Linked Notice Deposit | Rs.10 crore+ | No upper limit | 7 – 60 days | Interest linked to MIBOR, no OD, no penalty on withdrawal |
| PNB NRE Rupee Sugam Term Deposit | Rs.10,000 | As per norms | 1 – 10 years | NRI specific, premature/partial withdrawal allowed |
| PNB NRO Rupee Sugam Term Deposit | Rs.10,000 | Rs.10 crore | 46 days – 10 years | Joint holding with residents/NRI, flexible withdrawal, OD/loan permitted on request |
