Who is eligible to open an account for a PNB fixed deposit?

The following list of individuals and entities are eligible to open a fixed deposit with Punjab National Bank. Individuals, both residents and non-residents Minor individuals along with a guardian Persons of Indian Origin Hindu Undivided Families (HUFs) Associations and clubs Partnership firms Public and Private Limited companies Societies Government or quasi-government bodies like municipalities and panchayats

PNB Fixed Deposit (FD) Interest Rates 2023

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PNB FD Interest Rates for Senior Citizens & Non-Senior Citizens

The interest rates are dependent on various factors such as the tenor, your age, and the investment amount, among other things. For more information on the prevailing rates of interest on PNB fixed deposits, check out the table below.

Tenor	PNB Non-Senior Citizen FD Interest Rates	PNB Senior Citizen FD Interest Rates	PNB Super Senior Citizen FD Interest Rates
7 days to 14 days	3.50% per annum	4.00% per annum	4.30% per annum
15 days to 29 days	3.50% per annum	4.00% per annum	4.30% per annum
30 days to 45 days	3.50% per annum	4.00% per annum	4.30% per annum
46 days to 90 days	4.50% per annum	5.00% per annum	5.30% per annum
91 days to 179 days	4.50% per annum	5.00% per annum	5.30% per annum
180 days to 270 days	5.50% per annum	6.00% per annum	6.30% per annum
271 days to less than 1 year	5.80% per annum	6.30% per annum	6.60% per annum
1 year	6.80% per annum	7.30% per annum	7.60% per annum
Above 1 year-665 days	6.80% per annum	7.30% per annum	7.60% per annum
666 days	7.25% per annum	7.75% per annum	8.05% per annum
667 days to 2 years	6.80% per annum	7.30% per annum	7.60% per annum
2 years and 1 day to 3 years	7.00% per annum	7.50% per annum	7.80% per annum
3 years and 1 day to 5 years	6.50% per annum	7.00% per annum	7.30% per annum
5 years and 1 day to 10 years	6.50% per annum	7.30% per annum	7.30% per annum

Note: The above interest rates are with effect from February 20, 2023 and are applicable for retail domestic fixed deposits of less than ₹2 Crores. The rates are subject to change from time to time depending on the bank’s policies. Individuals at the age of 80 or more are categorised as super senior citizens.

Deposit Amount

₹

Tenure

Months

Interest Rate

Interest Payout

Your Total Maturity Amount is

Total Investment

Total Interest Earned

Features and Benefits of a PNB Fixed Deposit

Loan or Overdraft Facility

In case you require funds urgently, you can get a loan against your PNB fixed deposit. Alternatively, with the FD as a collateral, you can also get an overdraft facility for your savings account.

Highly Attractive PNB FD Interest Rates

The interest rates offered by Punjab National Bank is very competitive and is higher than what many other banks and NBFCs offer.

Auto-Renewal Facility

Your fixed deposit can be automatically renewed upon maturity, eliminating the need to manually book an FD once again.

Nomination Facility

You can register a nominee for your FD at any point in time during its tenor. In addition to registering, you can also change the nominee as well.

Additional PNB FD Interest Rates for Older Individuals

Individuals above 60 years old and 80 years old stand to gain an additional interest rate over and above the base rate offered by the bank. The additional Punjab National Bank fixed deposit interest rate for such individuals can range anywhere from 0.5% per annum to 0.8% per annum.

Customisable Tenors

The tenor of the PNB fixed deposit is flexible and starts from as low as 7 days and goes all the way up to 120 months.

PNB FD Interest Rates for Senior Citizens and Others for up to 5 Years

The interest rates on PNB FD may vary depending on the tenor and whether you’re a non-senior citizen, a senior citizen or a super senior citizen. The table below outlines the interest and the maturity amount that various categories of investors get to earn on an investment of ₹1 Lakh over different tenors.

Tenor	Non-Senior Citizen			Senior Citizen
Tenor	Interest Rate (p.a)	Interest Earned	Maturity Amount	Interest Rate (p.a)	Interest Earned	Maturity Amount
1 year	6.80%	₹6,975	₹1,06,975	7.30%	₹7,502	₹ 1,07,502
2 years	6.80%	₹14,437	₹1,14,437	7.30%	₹15,567	₹1,15,567
3 years	7.00%	₹23,144	₹1,23,144	7.50%	₹22,239	₹1,24,972
4 years	6.50%	₹29,422	₹1,29,422	7.00%	₹31,993	₹1,31,993
5 years	6.50%	₹38,042	₹1,38,042	7.00%	₹41,478	₹1,41,478

If you’re a super senior citizen who is 80 years of age or more, the following table outlines the maturity amount and interest earned on your investment of ₹1 Lakh over different tenors.

Tenor	Super Senior Citizens
Tenor	Interest Rate (p.a)	Interest Earned	Maturity Amount
1 year	7.60%	₹7,291	₹1,07,819
2 years	7.60%	₹16,250	₹1,16,250
3 years	7.80%	₹26,080	₹1,26,080
4 years	7.30%	₹33,558	₹1,33,558
5 years	7.30%	₹43,578	₹1,43,578

Eligibility Criteria and Documents Required for Opening an FD in PNB

Punjab National Bank has listed out certain specific eligibility criteria that needs to be met to be able to open an FD with it. In addition to that, there’s also a list of documents that you will have to submit as part of the application process. Here’s a closer look at what they are.

Eligibility Criteria

The list of individuals and entities that can open a fixed deposit with PNB are listed below.

Individuals, both residents and non-residents
Minor individuals along with a guardian
Persons of Indian Origin
Hindu Undivided Families (HUFs)
Associations and clubs
Partnership firms
Public and Private Limited companies
Societies
Government or quasi-government bodies like municipalities and panchayats

Documents Required

The following list of documents will have to be submitted along with the fixed deposit application form to open the FD account.

Latest passport size photograph
A self-attested copy of your PAN card
Self-attested copies of address proof documents like Aadhaar card, Voter ID card, driving licence, etc.

How to Open an FD in PNB

There are three different ways through which you can open an FD account with PNB - through internet banking, through the mobile app, and through a bank branch. Let’s take a brief look at each of these methods.

1. Through Internet Banking

If you have an active internet banking account with Punjab National Bank, you can use it to quickly book a fixed deposit at your convenience. The steps that you would have to follow in this case would be as follows.

Step 1: Visit the internet banking portal of PNB.
Step 2: Log into the portal using your user credentials.
Step 3: Click ‘Deposits’ in the menu section of the webpage.
Step 4: Click ‘Fixed Deposits’.
Step 5: Proceed to enter details like the investment amount, the tenor, interest payout frequency, among other things. Keep in mind that the PNB FD interest rate may vary depending on the details you enter.
Step 6: Submit the application to create a fixed deposit.

Note: Since the funds for the FD will be debited from your PNB savings account, ensure that the account is well-funded before proceeding to open a fixed deposit.

2. Through the Mobile Application

If you have a smartphone, you can download the PNB mobile application and use it to create an FD. Here’s what you would have to do in this case.

Step 1: Download PNB mobile banking app on your smartphone.
Step 2: Log in to the app with your credentials.
Step 3: Tap on ‘Deposits’ in the main menu.
Step 4: Tap on ‘Fixed Deposit’ under the deposits sub-menu.
Step 5: Enter details like deposit amount, tenor, and other required information. As soon as you enter the tenor, the PNB FD interest rate applicable to you will be displayed.
Step 6: Complete the process to create the fixed deposit.

Note: Since the funds for the FD will be debited from your PNB savings account, ensure that the account is well-funded before proceeding to open a fixed deposit.

3. Through a Bank Branch

If you’re not comfortable with any of the above two online methods of opening an FD, you can still do it by visiting your nearest PNB bank branch. Once you’re there, request for an FD account opening form, fill it and attach all the necessary documents to it. Meanwhile, make sure to enquire about the prevailing PNB FD rates since they’re prone to change from time to time.

Submit the filled form with the bank’s representative and make the payment. Your fixed deposit will be created within a few days and you will receive a receipt acknowledging the same.

Fixed Deposit Rates for Other Banks
SBI FD Interest Rates	ICICI Bank FD Rates	Union Bank FD Rates
Axis Bank FD Rates	Indusind Bank FD Rates	Bank of Baroda Fixed Deposit Interest Rate
HDFC FD Interest Rates	Canara Bank FD Rates	Bandhan Bank FD Rates
Kotak Bank FD Rates	Bank of India FD Rates	Karnataka Bank FD Interest Rates
IDFC First Bank FD Rates	RBL FD Rates	UCO Bank FD Rates
Indian Bank FD Rates	Federal Bank FD Rates	Central Bank FD Interest Rate
IDBI FD Interest Rates	Punjab and Sind Bank FD Rates	DCB Bank FD Rates
Bank of Maharashtra FD Rates	KVB FD Interest Rates	Utkarsh Small Finance Bank FD Rates
IOB FD Interest Rates	Ujjivan Bank FD Rates	Saraswat Bank FD Rates
AU Bank FD Rates	YES Bank FD Rates	-

Disclaimer

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort.

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Latest PNB Bank FD News

PNB Hikes FD Interest Rates

PNB hiked the interest rates on fixed deposits up to Rs. 2 Crore with effect from 19 December 2022. The rates have been raised by over 95 bps from 6.30% to 7.25% for the tenor of 666 days and by 40 bps from 6.1% to 6.5% for repayment tenure 3-10 years. While, senior citizens are eligible for an additional 50 bps or 0.50% for fixed deposits less than Rs. 2 Crore, super senior citizens will receive an extra 80 bps or 0.80% across all tenors.

- Dec 22 , 2022

Punjab National Bank (PNB) increases FD interest rates by up to 30 basis points

PNB has hiked the interest rates on FDs for certain tenures. This new rate of interest will be applicable for fixed deposits of less than Rs.2 crores. Punjab National Bank will now offer interest rates ranging from 4.30%-8.05% on fixed deposits that mature in 7 days to 10 years for super-senior citizens. Super-senior citizens are individuals who are 80 years of age and above. The new rates of interest are effective from 20th February 2023.

- Feb 23, 2023

Top FD Pages

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Monthly Interest on FD

Yes, there is an option for premature withdrawal. However, the bank would charge a penalty of about 1%.

No. You cannot extend the tenor of a PNB FD. However, you can opt for automatic renewal of your deposit, which will renew the investment upon maturity for the same tenor that you initially opted for.

Depending on the tenor, individuals above 60 years of age get to enjoy an additional PNB FD interest rate of 0.5% to 0.8% per annum. This PNB fixed deposit interest rate is over and above the base rate applicable for the selected tenor.

Yes. You can get a loan against your fixed deposit with PNB. However, the maximum amount of loan that you can get is dictated by the bank’s policies.

You will have to fill the fixed deposit account opening form to open a PNB FD. You can find the form on PNB’s website or you can get it from the nearest PNB bank branch.

The PNB Tax Saver fixed deposit, with a tenor of 5 years, would qualify for deductions under section 80C of the Income Tax Act, 1961. The maximum amount of tax exemption that you can claim under this section is ₹1.5 Lakhs in a financial year.

You can apply for the PNB tax saving fixed deposit by selecting the relevant field in the fixed deposit account opening form.

Yes, TDS would be deducted if your interest income in a financial year exceeds ₹40,000. However, if you’re a senior citizen, TDS would only be deducted if total interest in a financial year exceeds ₹50,000. You can use a PNB FD calculator to estimate the returns of your fixed deposit and use it to determine whether you qualify for TDS deduction or not.

Yes. Being a scheduled commercial bank, all deposits in PNB qualify for DICGC insurance coverage of up to ₹5 Lakhs. Therefore, your fixed deposit with the bank should be safe and secure. Also, the bank is highly rated by credit rating agencies in India too.

Yes. If you have an internet banking account with PNB, you can quickly open an FD by simply logging into your account and completing the FD account opening process.

The highest PNB FD interest rate applicable to non-senior citizen individuals is 7.00% per annum for a tenor of 600 days. In the case of senior and super senior citizens, the maximum PNB FD interest rate applicable is 7.50% per annum and 7.80% per annum respectively for a tenor of 600 days.

The following list of individuals and entities are eligible to open a fixed deposit with Punjab National Bank.

Individuals, both residents and non-residents
Minor individuals along with a guardian
Persons of Indian Origin
Hindu Undivided Families (HUFs)
Associations and clubs
Partnership firms
Public and Private Limited companies
Societies
Government or quasi-government bodies like municipalities and panchayats

Yes. Depending on the kind of fixed deposit plan that you opt for, the minimum amount required to open the FD will vary. Some plans have a minimum deposit requirement of just ₹100, whereas the others have a minimum requirement of ₹10,000.