The current interest rates applies to PNB Peso time deposits that range 1 year for amounts 5M. The rate of 1.125% is 0.38% lower than the average 1.5%. Also it is 0.625% lower than the highest rate 1.75 Updated Jun, 2018 on Philippine National Bank's secure website. Direct Deposit Pensioner; Debit Card: x: Passbook Interest Rate: 0.100%: Initial Deposit: Php 100.
- Remittance to accounts with PNB in India. Attractive rate of interest on Daily Balance Method; Recurring Deposits: Attractive Interest Rates. Minimum amount required is HKD 500 & multiple from 12 month up to 36 month. Fixed Deposits: Attractive Interest Rates. Minimum amount required is HKD 1000. How to open an Account? Completed Account.
- Greenmarket Time Deposit.
- Punjab National bank offers recurring deposits with terms ranging from 180 days to 10 years and these term deposits are segregated into: PNB Short term RD Interest Rates: Theses RDs offer ranges from 180 days to a year and the interest rate offered by the bank is 4.40% to 5.20% for regular citizens and 4.90% to 5.70%for senior citizens.
We know that everyone wants to save the amount they have. Sometimes, they want to keep, but due to some issues, they need to spend a particular amount. That is the reason most of the banks started providing attractive interest rates on opening fixed deposits account with them. It means you cannot break the bond or account until the Tenure. In this way, you can keep your money safe. Therefore, we will be talking about PNB fixed deposit rates.
Punjab National Bank Fixed Deposit Interest Rates:
The interest rate depends upon the Tenure you pick and how old are you? It means if you come under the senior citizen scheme, then probably you’ll be getting more interest rates on opening fixed deposit account with Punjab national bank. Anyway, let me tell you about the interest rates based on different scheme, Tenure and group of people.
- PNB Short Term FD Rates
- PNB Medium Term FD Rates
- PNB long term FD rates
- PNB FD Rates for senior citizen
#1 PNB Short Term FD Rates
You need to know that the rate of interest you’ll be getting for choosing short term deposits are something near about 4.50% to 6.60% P/A. It is for 7 Days to 1 Year Tenure.
#2 PNB Medium Term FD Rates
You need to know that the rate of interest you’ll be getting for choosing medium-term deposits are something near about 6.50% to 6.60% P/A. It is for 1 Year to 5 Years Tenure.
#3 PNB Long Term FD Rates
You need to know that the rate of interest you’ll be getting for choosing long-term deposits are something near about 6.50% P/A. It is for more than 5 Years Tenure.
#4 PNB FD Rates for senior citizen
The interest rates for senior citizen fixed deposit account is around 7% P/A in Punjab national bank. It is usually 0.50% more than regular FD interest rates.
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How to Open the PNB Fixed Deposit Account?
You can open Punjab national bank fixed deposit account for Rs 25000 or more. You can open either by visiting the bank following traditional and old method or via internet banking of Punjab national bank. Both of the options are perfect, and there is no difference in interest rates on both of the methods.
Frequently Asked Questions:
There are some questions which are frequently asked by the customers related to PNB Fixed Deposits account. Let me clear some of the queries here itself.
- Do interest rates change on Term Deposits from time to time?
- Do you need to pay the tax on the interest?
- What are the consequences if you have not provided your PAN card?
- How is interest paid to term deposit holder?
- Is the interest rate same on e-FD and regular FD?
#1 Do interest rates change on Term Deposits from time to time?
Yes, it depends upon the bank, and they can change the rate of interest anytime. However, you’ll be getting the same rate of interest, in which you have opened your FD account.
#2 Do you need to pay tax on the interest?
Yes, you need to pay tax on the interest you earn if the interest is more than Rs 10000 per financial year.
#3 What are the consequences if you have not provided your PAN card?
If you have not provided your PAN card while opening FD account, then you’ll be charged more TDS rate. You will not receive the TDS certificate, and you cannot claim your TDS credit from the income tax department. It is better to provide PAN card copy while opening a fixed deposit account with PNB.
#4 How is interest paid to term deposit holder?
The interest a customer earns during the Tenure of their fixed deposit account will automatically get credited to their linked savings bank account.
#5 Is the interest rate same on e-FD and regular FD?
Yes, the interest rates are the same on e-FD and regular FD. There is no difference. The only difference is in the process of opening the FD account.
Conclusion:
Punjab national bank is one of the widest and leading banks of India. This bank is giving fierce competition to other government banks by providing attractive interest rates on opening a fixed deposit account with them. In this post, we have added all the required details you need to know about Punjab national bank fixed deposits. If there is anything else to ask, then you can ask us in the comments section related to this article.
Hey, this is Johny Sehgal. I am the owner and caretaker at Finance Jungle. I completed my education in BSC and now heading towards the digital marketing industry. I usually have interests in reading, playing games and watching movies. I also love to write content based on quality information. The main motive of mine is to provide the top and best quality information to my readers. Finance Jungle is the blog for the same.
A Savings Account is very beneficial with multiple advantages as detailed below:
(1) Earns Interest on your Savings
This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.
Interest rate in savings account ranges from 3.5% to 7%.
(2) Provides Security of Funds
There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.
(3) No Lock-in Period
There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.
(4) Offers Liquidity
You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.
(5) Availability of Variety of Savings Account
Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.
(6) Services of Customer Relation Manager
Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.
(7) Online Banking Facilities
If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.
(8) Provides ATM/ Debit Card
You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.
(9) Helps you Get Credit or Loan
The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.
(10) No Cap on Deposits
There is no limit on the amount deposited and number of times it is deposited.
(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions
Pnb Time Deposit Rates
You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.
Pnb Fd Rates Today
(12) Free Mobile App
Pnb Fixed Deposit Rates
Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.