PNB Bank 2024 Interest Rate For FD- PNB, which stands for Punjab National Bank, gives its customers a variety of FD options with attractive interest rates. Using a PNB FD calculator, the interest rate on a PNB FD can be easily calculated, just like it can be for any other bank. You can use this calculator to figure out how much interest your principal will earn if you keep it in a PNB fixed deposit account. After the interest is compounded daily, monthly, quarterly, semiannually, or annually, it details the investment at maturity. You only need to provide the fundamental information about your fixed deposit account, such as the amount invested, the duration, and the interest rate, in order to determine how much interest your FD will earn at the end of the chosen tenure.
The bank’s FD rates are generally higher than other banks’ rates because of its high credit-worthiness score (Vantage score). A Vantage score measures a bank’s risk-adjusted capital, liquidity, and profitability by analyzing a variety of data points such as loan loss provisioning and delinquency rates. Factors such as asset quality, capital adequacy, and liquidity are taken into consideration when calculating a bank’s Vantage score. Additionally, PNB Bank’s high FD rates allow investors to earn higher returns compared to other banks’ rates.
PNB Bank 2024 Interest Rate For FD
One of the public sector banks in the country, Punjab National Bank, offers various kinds of fixed deposits. Any fixed deposit account can be opened by customers. The term deposits’ annual interest rates range from 3.50 percent to 7.25 percent, with a minimum and maximum tenure of seven days and ten years, respectively. Using a FD calculator, you can determine the maturity amount prior to opening an FD account with the lender. You will be able to estimate how much you will earn by investing a specific amount of money over a specific time period because of this. Simply enter the amount, duration, and interest rate into BankBazaar’s FD calculate.
PNB Bank 2024 interest rate for a fixed deposit offered by the bank. The interest rate is an annual percentage rate (APR) that is used to calculate the total amount of money that is paid into a financial account over a specified period of time. The APR shows how much interest is earned on a loan or deposit each year. The 2024 PNB Bank interest rate for fixed deposits is 4.25%. This means that if you deposit $100 into the bank’s fixed deposit account at the end of each year, you will earn $4.25 in interest each year. The PNB Bank 2024 interest rate for fixed deposits may change from time to time, so be sure to check with the bank or financial institution before making any financial decisions.
PNB Bank 2024 Interest Rate For FD Details
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About Punjab National Bank FD
One of India’s oldest banks, Punjab National Bank has a physical presence in virtually every major city. The Punjab National Bank, India’s first Swadeshi bank, opened its doors on April 12, 1895, in Lahore, and offers a wide range of services to its customers, including corporate and personal banking, industrial finance, agricultural finance, and international finance. 8.3 Lakh Cr as of March 31, 2020. In FY20, the bank made a profit of Rs 336 Cr.
Key Features of Punjab National Bank Fixed Deposit Schemes
- Inadvertent withdrawal: Except for the tax-saving FD, all PNB bank FDs can be withdrawn early. Premature withdrawals are also subject to a 1% interest penalty from Punjab National Bank. However, in accordance with PNB’s terms and conditions, the penalty may be altered.
- Facility for nomination: Investors in PNB FDs can select beneficiaries for their FDs.
- Auto-renewal: Financial backers can settle on auto-restoration of their PNB FDs.
- Safety: All PNB deposits are covered by the RBI’s Deposit Insurance Scheme. Additionally, the plan covers all PNB deposits up to a maximum of INR 50,000.
- Additional sums due: Once an investment with Punjab National Bank FD has begun, investors are unable to make additional deposits. However, they can use the new amount to open a new PNB FD.
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Types of Bank of Baroda FD Schemes
There are several types of Bank of Baroda FD schemes. The most common type is the Regular Scheme, which offers a fixed interest rate and maturity date. However, there are also Fixed Deposit Plans (FD plans) that allow savers to make regular deposits and earn a fixed rate of interest on their balances. Another type of Bank of Baroda FD scheme is the Saver Plan, which allows you to make smaller deposits and earn higher interest rates on your balances. The options at Bank of Baroda FD schemes are extensive and cater to a wide range of needs and financial goals. So if you’re looking for a bank with a variety of products and services, look no further than Bank of Baroda!
Baroda Tax Savings Term Deposit Account
- Under Section 80C of the Income Tax Act, the Tax Savings Fixed Deposit’s deposit amount is eligible for a tax deduction.
- There are three variations of this term deposit plan: RIRD, which stands for cumulative deposit scheme, MIP, which pays interest each month at discounted rates, and QIP, which pays interest every quarter.
- Tenor: Five to ten years Minimum Deposit: Rs. 100 (Additional deposits in multiples of Rs. 100) The Maximum Amount Deposited: Rs. Tax Benefit of 1.5
- Lakh: Under section 80C of the Income Tax Act, any investment in this scheme is eligible for tax benefits.
- Rate of Interest: The following groups will benefit in particular from the interest rate:
- Payment of Interest: The depositor will receive payment for the interest earned by the MIP and QIP schemes.
- Overdraft and Loan Facility: The Baroda Tax Savings Term Deposit Account does not have a loan or overdraft option.
- Inadequate withdrawal: In this plan, premature withdrawals are only permitted after five years (at the bank’s discretion). Premature withdrawal-related conditions in some cases.
- Premature Exit: In the event of the account holder’s death, the bank may allow the account to be closed early, but only in accordance with its policies and procedures.
Baroda Suvidha Flexible Fixed Deposit Scheme
- In addition to providing overdraft facilities to its depositors, this Fixed Deposit (FD) scheme provides the depositor with liquidity in the form of a flexible withdrawal of their investment.
- Tenor: 1 to 5 years’ minimum deposit: This account requires a minimum deposit of Rs. 5,000, which is equal to five Rs units 1,000 each), and additional deposits in multiples of Rs must be made. 1,000).
- Maximum Amount Deposited: The maximum amount that can be deposited is unlimited. There is a maximum limit of Rs for minor accounts opened by individuals over the age of 10. 1 Lakh.
- Rate of Interest: The following groups will benefit in particular from the interest rate:
- Payment of Interest: The depositor will receive a half-yearly payment of the scheme’s earned interest.
- Overdraft and Loan Facility: Up to 95% of the account balance on the date of the loan is eligible for the loan/overdraft option. Hindu Undivided Families and minor accounts opened in a single name do not qualify for advances against deposits.
- Inadvertent withdrawal: The facility of premature withdrawal is available for a minimum of Rs. 1,000, which is regarded as a single unit, and subsequent units in multiples. A few of the conditions that can lead to an abrupt withdrawal
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Monthly Income Plan (MIP)
- In addition to providing overdraft facilities to its depositors, this Fixed Deposit (FD) scheme offers a guaranteed monthly interest payout option.
- Tenor: 1 to 10 years Amount of the Minimum Deposit: This account requires a minimum deposit of Rs. 1,000, with additional deposits in multiples of Rs. 100.
- Maximum Amount Deposited: The maximum amount that can be deposited is unlimited. There is a maximum limit of Rs for minor accounts opened by individuals over the age of 10. 1 Lakh.
- Rate of Interest: The following groups will benefit in particular from the interest rate:
- Overdraft and Loan Facility: Up to 95% of the account balance on the date of the loan is eligible for the loan/overdraft option. Hindu Undivided Families and minor accounts opened in a single name do not qualify for advances against deposits.
- Security: Departments of the government accept MIP deposits as security.
- Activities Not Reliant on Funds: For non-fund-based transactions like letters of credit, bank guarantees, credit reports, solvency certificates, and so on, this scheme also accepts deposits as a margin.
PNB Domestic/NRO Term Deposit FD Rates Below Rs.2 Crore
| Tenure | Regular FD Rates (p.a.) | Senior Citizen FD Rates (p.a.) |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 29 days | 3.50% | 4.00% |
| 30 days to 45 days | 3.50% | 4.00% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 179 days | 4.50% | 5.00% |
| 180 days to 270 days | 5.50% | 6.00% |
| 271 days to less than a year | 5.80% | 6.30% |
| 1 year | 6.80% | 7.30% |
| above 1 year to 665 days | 6.80% | 7.30% |
| 666 days | 7.25% | 7.75% |
| 667 days to 2 years | 6.80% | 7.30% |
| Above 2 years and up to 3 years | 7.00% | 7.50% |
| Above 3 years and up to 5 years | 6.50% | 7.00% |
| Above 5 years and up to 10 years | 6.50% | 7.30% |
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PNB Domestic/NRO Term Deposit FD Rates Between Rs.2 Crore and Rs.10 Crore
| Tenure | Regular FD Rates (p.a.) |
| 7 days to 14 days | 5.50% |
| 15 days to 29 days | 5.50% |
| 30 days to 45 days | 5.50% |
| 46 days to 90 days | 5.50% |
| 91 days to 179 days | 6.00% |
| 180 days to 270 days | 6.25% |
| 271 days to less than a year | 6.25% |
| 1 year | 6.75% |
| Above 1 year and up to 599 days | 6.50% |
| 600 days to 2 years | 6.50% |
| Above 2 years and up to 3 years | 6.50% |
| Above 3 years and up to 5 years | 6.25% |
| Above 5 years and up to 10 years | 5.60% |
PNB NRE Fixed Deposit Rates: Less than Rs.2 crore – General Citizens
| Tenure | Regular FD Rates (p.a.) |
| 1 year | 6.75% |
| Above 1 year to 665 days | 6.75% |
| 666 days | 7.25% |
| 667 days to 2 years | 6.75% |
| Above 2 years and up to 3 years | 6.75% |
| Above 3 years and up to 5 years | 6.50% |
| Above 5 years and up to 10 years | 6.50% |
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PNB NRE Fixed Deposit Rates: Rs.2 crore to less than Rs.10 crore – General Citizens
| Tenure | Regular FD Rates (p.a.) |
| 1 year | 6.75% |
| Above 1 year and up to 599 days | 6.50% |
| 600 days | 6.50% |
| 601 days to 2 years | 6.50% |
| Above 2 years and up to 3 years | 6.50% |
| Above 3 years and up to 5 years | 6.25% |
| Above 5 years and up to 10 years | 5.60% |
PNB FCNR (B) Deposit Rates
| Period | USD | GBP | EUR | AUD | CAD | JPY |
| 1 year to < 2 years | 5.30% | 4.43% | 1.96% | 3.40% | 4.51% | 0.09% |
| 2 year to < 3 years | 4.80% | 3.53% | 1.96% | 3.40% | 4.51% | 0.04% |
| 3 year to < 4 years | 4.50% | 3.53% | 1.96% | 3.40% | 4.51% | 0.04% |
| 4 year to < 5 years | 4.50% | 3.53% | 1.96% | 3.40% | 4.51% | 0.04% |
| 5 year only | 4.50% | 3.53% | 1.96% | 3.40% | 4.51% | 0.04% |
How to Open a PNB FD Deposit Account?
One can open a PNB Bank FD account through various modes such as Internet Banking, Mobile App and offline. This type of bank of Baroda scheme combines elements of both fixed deposit and equity-linked saving schemes. The interest rate typically varies between 2% and 5% (sometimes higher or lower), and it can be either paid as an upfront fee or paid in the form of additional returns over a predetermined period of time. The term can range from one month to several years, depending on the particular scheme chosen and individual needs.
Internet Banking
An individual can open a PNB Bank FD account using internet banking by following the steps below:
- Log in to your PNB NetBanking account first.
- Second, pick the option that says “Open Fixed Deposits.”
- After that, enter the maturity instructions, nominee information, and all of the necessary information.
- Last but not least, select door-to-door assistance from the bank representative. The representative will accept documents from investors.
- The FD will be booked after the application form and KYC documents are verified. After that, the communication address will receive the FD certificate.
- Additionally, a confirmation SMS will be sent to the registered mobile number.
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Through Mobile App
PNB Bank App
- To open an FD account using the PNB Bank Mobile App, follow these steps:
- Download the PNB Bank App and sign in first.
- Second, pick the “Open FD” choice.
- Then, select door-to-door assistance and provide all necessary deposit and nominee information.
- Finally, a representative of the bank will visit to verify the information.
- The PNB FD will be booked once the application form and KYC documents are verified. After that, the communication address will receive the FD certificate. Additionally, a confirmation SMS will be sent to the registered mobile number.
Offline PNB FD Opening
One must visit the PNB Bank branch closest to them in order to open an offline FD account. Complete the PNB Bank FD application form and submit the deposit amount along with all required documents. The PNB bank will then send the FD certificate to the communication address once the application has been processed successfully. Additionally, a confirmation SMS will be sent to the registered mobile number.
Documents Required to Open Punjab National Bank FD
The following are the required documents for opening a PNB fixed deposit account:
FD account opening form Identity verification in accordance with KYC standards PAN Card, Aadhar Card, Voter ID Card, Passport, and Driving License) A declaration on Form No. 60 or 61 of the Income Tax Act Address proof in accordance with KYC regulations PAN Card, Aadhar Card, Voter ID Card, Passport, and Driving License) Information about your bank savings account, including the account number, IFSC code, and branch. Any other documents that are required for a partnership, sole proprietorship, business, HUF, association, or institution.
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