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.
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 |
||||
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 |
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.
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 |
||
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 |
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.
Fixed Deposit Rates for Other Banks |
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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.