PNB Fixed Deposit (FD) Rates

PNB Fixed Deposit rates 2023

About Punjab National Bank FD

Punjab National Bank commenced its operations on April 12th, 1895, from Lahore. The Bank caters to a wide variety of audiences through a spectrum of services, including corporate and personal banking, industrial finance, agricultural finance and international finance. PNB has its headquarters in New Delhi. As of March 2022, PNB has 10,098 branches across India and 13,350 ATMs. The total deposits as of March 2022 stood at INR 11,46,218 crores. PNB’s Fixed Deposits have an AA+ Credit Rating.

3.5% - 7.3%

FD Rate

4% - 7.8%

FD Rate for Seniors

₹ 1000

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

AA+

CRISIL Rating 

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	6.75%	7.25%
above 1 year to 443 days	6.80%	7.30%
444 days	7.25%	7.75%
445 days to 665 days	6.80%	7.30%
666 days	7.05%	7.55%
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%

Note: The FD interest rates are effective as of 1 June 2023. It can change at the discretion of the bank.

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	6.00%
15 days to 29 days	6.00%
30 days to 45 days	6.00%
46 days to 90 days	6.25%
91 days to 179 days	6.50%
180 days to 270 days	6.50%
271 days to less than a year	6.50%
1 year	7.00%
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%

Note: The FD interest rates are effective as of 18 May 2023. It can change at the discretion of the bank.

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 443 days	6.80%
444 days	7.25%
444 days to 665 days	6.80%
666 days	7.05%
667 days to 2 years	6.80%
Above 2 years and up to 3 years	7.00%
Above 3 years and up to 5 years	6.50%
Above 5 years and up to 10 years	6.50%

Note: The FD interest rates are effective as of 1 June 2023. It can change at the discretion of the bank.

PNB on Tax Saver Fixed Deposits

Depositors	Up to 5 years Interest Rate (p.a.)	Above 5 years and up to 10 years (p.a.)
General Public	6.50%	6.50%
Senior Citizens	7.00%	7.00%
Staff Member	7.50%	7.50%
Retired Staff Member	7.50%	7.50%

Note: The FD interest rates are effective May 2023. It can change at the discretion of the bank.

PNB on PNB Uttam Term Deposit:

Tenure bracket	Rates for General Public (p.a.)	Rates for Senior Citizens (p.a.)
91 days to 179 days	4.55%	5.05%
180 days to 270 days	5.55%	6.05%
271 days to less than 1 year	5.85%	6.35%
1 year	6.80%	7.30%
Above 1 year and up to 443 days	6.85%	7.35%
444 days	7.30%	7.80%
445 days to 665 days	6.85%	7.35%
666 days	7.10%	7.60%
667 days to 2 years	6.85%	7.35%
Above 2 years and up to 3 years	7.05%	7.55%
Above 3 years and up to 5 years	6.55%	7.05%
Above 5 years and up to 10 years	6.55%	7.35%

Note: The FD interest rates are effective as of 1 June 2023. It can change at the discretion of the bank.

Types of PNB FD Schemes

PNB Tax Shield – Fixed Deposit Scheme

• Deposit amount: Minimum deposit: Rs. 100 or in multiples thereof, Maximum deposit: Rs. 1.50 lakh per financial year only.
• Tenure: 5 years-10 years.
• Lock-in period: 5 years
• Interest Option: Income option and Maturity option is available under this FD scheme
  • Income Option (Outflow of interest)
    • The interest can be paid on a monthly or quarterly or half-yearly or yearly basis
    • Monthly interest will be paid at a discounted rate, however, interest will be compounded quarterly in the case of half-yearly and yearly payments
  • Maturity Option (Re-Invested Interest)
    • The interest will be compounded quarterly and paid out when the deposit matures
    • For the purpose of calculating interest, the incomplete quarter of the deposit will be taken into account at the end
• Interest Rates: 0.50% additional interest to senior citizen FD depositors and 1% additional interest to staff members inclusive of additional interest paid to senior citizens under the scheme
• Additional interest rates of 0.80% p.a. on regular FD rates are offered to super senior citizens
• Loan/Advance, premature cancellation/ part withdrawal facility is only available after the expiry of the lock-in period (5 years)
• Interest on these term deposits will be taxed under the Income Tax Act, either on a yearly accrual or receipt basis, depending on the depositors’ accounting system.

PNB Ordinary Term Deposit Scheme

• Deposit amount: Minimum deposit: Rs.100; Maximum amount: Rs.1,99,99,999
• Tenure: 7 days-179 days
• Demand Loan/Overdraft facility is available on deposits of Rs.10,000 and more on written request

PNB Uttam – Non-Callable Deposit Scheme

• Deposit Amount: Rs 15 lakh and above
• Interest Option:
  • Income Option (Outflow of interest):
    • The interest can be paid on a monthly or quarterly or half-yearly or yearly basis
    • Monthly interest will be paid at a discounted rate, however, interest will be compounded quarterly in the case of half-yearly and yearly payments
  • Maturity Option (Reinvestment of interest on a quarterly compounding basis):
    • The interest will be compounded quarterly and paid out when the deposit matures
    • For the purpose of calculating interest, the incomplete quarter of the deposit will be reckoned at the end

• Tenure:
  • For Deposit of more than Rs. 15 lakh to Rs. 10 crore
    • For Maturity Option: 91 days – 10 years
    • For Income Option: 6 months – 10 years
  • For Deposit of more than Rs. 10 crore
    • For Maturity Option: 91 days – 1 year
    • For Income Option: 6 months – 1 year
  • Interbank Deposits above Rs 10 Crore: Maturity Option: 91 days – 1 year
• The conversion option is not permitted under this scheme
• The auto-renewal system is not allowed
• Premature withdrawal or partial withdrawal or extension are not permitted under the scheme, except in case of death of the Depositor (Single/ Joint)/ winding up /Bankruptcy/directions by court/ regulators/ receiver/liquidator
• Demand Loan or the Overdraft facility is available to the depositors at per bank’s discretion and as per the existing guidelines
• In case, if the depositors hold deposits in the maturity option, the maturity value of such deposits will be calculated on a quarterly compounding basis.