PNB Special FD Scheme: PNB Discontinues this FD Scheme, informs Customers about Joining Special Deposit Program | Popgen Tech

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PNB Special FD Scheme: PNB Discontinues this FD Scheme, informs Customers about Joining Special Deposit Program
PNB Special FD Scheme: PNB Discontinues this FD Scheme, informs Customers about Joining Special Deposit Program


Punjab National Bank has set up the Special Fixed Deposit Scheme. This has been combined with the Special Deposit Program and communicated to its customers.

Existing account holders who have accounts under the PNB Annual Income Scheme will continue to have the benefits available/ availed by them under the scheme.

PNB Special FD Scheme: Customers of Punjab National Bank, especially PNB Annual Income Scheme Fixed Deposit Program account holders, have been informed about the cancellation of the scheme and its merger with the PNB Special Deposit.

According to the PNB website, “Our respected customers especially the account holders of our PNB Annual Income Fixed Deposit Scheme are hereby informed about the closure of this scheme and the merger of the Annual GNP.

Income Scheme with PNB Special Deposit Scheme. Existing account holders who have accounts under the PNB Annual Income Scheme will continue to have the benefits available/ availed by them under the scheme.

Existing account holders who have accounts under the PNB Annual Income Scheme will continue to get the benefits offered by the scheme.

Amount Deposited

Minimum deposit Rs.10, 000 or Rs.1000 in multiples thereof but not exceeding Rs.1, 99, 99,000.

Deposit Period

Deposits are only accepted for 24, 36, 48, 60, 72, 84, 96, 108 and 120 months at the depositor’s option.

Interest rate

Card rates as per guidelines issued by IRMD, (ALM Cell) from time to time. Interest is paid at a simple rate either at maturity or at quarterly intervals, as the case may be.

Demand Loan/Overdraft Facility

Deposits of Rs.10,000 and above will be eligible for demand loan/overdraft facility on written request. Depositors who require an overdraft facility are allowed to avail the facility through an overdraft account and a check book is issued to the depositor on the same day.

However, physical withdrawal from the overdraft account will be allowed from the account the next day if the Fixed Deposit has been withdrawn on the date on which the OD facility was requested.

Other Terms and Conditions issued by the Head Office

  • Integrated Risk Management Division L&A circulars from time to time.
  • Overdraft option/facility will not be available in the account opened in the name of illiterate or blind person.

PNB Special Deposit Scheme

Amount Deposited

Minimum deposit of Rs.100 and in multiples of Re.1 thereafter but not exceeding Rs.1,99,99,999.

Deposit Period

From One Year to 10 Years, Also For Incomplete Quarters.

  • Interest as prescribed by the HO from time to time
  • Card rates as per guidelines issued by IRMD, ALM Cell.
  • The interest must be paid quarterly at the simple rate or monthly at the concessional rate according to the depositor’s choice.

No fees are imposed on the transfer of an interest amount to other branches for credit to a customer’s deposit account or loan account. At the request of a depositor who has a number of special fixed deposits issued for different tenors, on different dates, the Bank can pay interest on all these deposits on a particular date of the quarter.

Demand Loan/Overdraft Facility

Deposits of Rs.10,000 and above will be eligible for Demand Loan/Overdraft facility on written request.
Overdraft option/facility will not be available in the account opened in the name of illiterate or blind person.

Denial

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