PNB Special FD Scheme: Fixed deposits (FD) still remain an attractive option in banks for safe investment of their capital. The biggest reason for this is that the investors’ capital is safe in it and the returns are assured. Although the FD’s rates have been reduced in recent times, the attraction of investors has decreased towards it, but it is still a safe investment option. In such a situation, PNB (Punjab National Bank) has introduced a special PNB UTTAM FD Scheme (Non-Collable). According to the bank’s claim, it provides interest to investors at higher rates on their capital.
Under this scheme, investors have to provide FD of at least Rs 15 lakh and after that any amount of FD can be made in multiples of one rupee. Investors can get FDs ranging from 91 days to 10 years and on this they get interest at the rate of 4.05% to 5.35%. Senior citizens will get an additional 0.5 per cent (50 bp) interest. Apart from this, the bank’s staff members and retired staff members will get a maximum interest rate of 1.5 per cent (150 bps).
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Investment rates from 15 lakh to 2 crore rupees
Period – Rate of interest (per cent)
91-179 days – 4.05
180 days – 270 days – 4.45
271 days – less than a year – 4.55
1 year – 5.25
Over 1 year – Less than two years – 5.25
Over 2 years – Below 3 years – 5.25
Over 3 years – up to 5 years -5.35
Over 5 years – up to 10 years – 5.35
These people can open an account
- Individual (single or joint)
- People above the age of 10 years can invest in their own name by giving a certificate of their age.
- Proprietorship / Partnership Firm, Commercial Organization, Company / Corporate Body
- Hindu Undivided Family (HUF)
- Association, Club, Society, Trust or Religious / Charitable or Educational Institutions
- Municipality or panchayat, governmental or semi-governmental body
- Illiterate and blind people can also open this account.
(Source: All the information is as per the information given on the PNB website.)
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