Punjab National Bank Recurring Deposit – Get information about PNB RD Interest Rates, PNB Recurring Deposit, PNB Recurring Deposit Rates, Schemes, Details.
Punjab National Bank is the first Swadeshi bank of India which started to serve the nation in 1895.
PNB is considered as the most honourable bank amongst many others.
However, the bank provides the customers with the RD facility to save the money at higher rate of interests.
FEATURES & BENEFITS OF OPENING RD ACCOUNT WITH PNB
- Minimum deposit amount is Rs. 100
- Minors (below the age of 10) are eligible to open account under guardianship or natural legal guardian.
- TDS is applicable as per rules.
- Nomination facility can also be availed.
- Loan against deposit / overdraft is available.
TYPES OF RECURRING DEPOSIT SCHEME
PNB Recurring deposit Scheme (e – RD):-
- The scheme is only for internet banking users or for existing account holders with bank.
- Valid PAN card should be linked with the account.
- In case of closure of RD account, one shall visit the Parent branch.
PNB Special Recurring Deposit Product
- The account can be opened by all the government & private institution, PSU, Corporate Bodies etc. With the minimum amount of installment of Rs. 10 and later in multiples of Rs 1.
- No penalty on missed installments.
- No premature withdrawal allowed without the prior sanction or permission of the institution.
- Loans and advance facility is available which shall be governed by L&A circulars issued by IRMD (Credit Policy Section).
- Minimum tenure period is 6 months to 10 years (In multiples of 1 month).
- Individuals ( singly or jointly ) with others are eligible to open account with PNB
- Proprietorship / Partnership firm
- Commercial Organisation
- Company / Corporate Body
- Hindu Undivided Family
- Association, Club, Society, Trust or Religious / Charitable Educational Institution
- Municipality or Panchayat, Government OR Quasi – Government body
- Illiterate Person
- Blind person
PENALTY TERMS & CONDITIONS
- Depositing of pending installments before the maturity date, penalty will be charged at Rs.1.00 for Rs.100 Per month.
- Non deposit of pending installments till maturity date, interest will be paid on daily products basis compounded half yearly.
- If the Payment of Recurring Deposit will be due on maturity or one month after deposit of last installment, whichever is later will lead to Irregular/Discontinued RD Account.
Punjab National Bank Recurring Deposit Interest Rates
|Tenure||General Rates (% p.a)||For Senior Citizens (% p.a)|
|180 days to 270 days||6.25||6.75|
|271 days to 364 days||6.25||6.75|
|365 days to 2 years||6.65||7.15|
|2 years to 5 years||6.65||7.15|
|5 years to 10 years||6.50||7.00|