This article offers a brief summary of the key aspects of the Punjab National Bank‘s Recurring Deposit schemes. Since these details are subject to frequent updates, please refer to the bank’s official website for the most current information on features and interest rates.
PNB India – Recurring Deposit Features:
- For users of Internet Banking exclusively.
- Valid for existing customers with an active Savings/Current Account. Mode of operation, nomination, and preferential rates for senior citizens will remain consistent with the funding source for the recurring deposit.
- Acceptance of terms and conditions is mandatory before issuing e-RD. e-RD issuance requires a valid PAN document associated with the funded account.
- Deposit tenure follows the scheme as displayed on the Bank’s website.
- Nomination remains consistent with the funded account.
- Maturity proceeds credited to the funded account upon maturity of the term deposit.
- Visit the parent branch for closure or premature closure of the e-RD account.
- Interest rate aligns with the Card rate (LINK) applicable to the deposit tenure displayed on the website, subject to periodic updates.
- Nomination facility is available. TDS is applicable as per regulations.
- The Bank issues a TDS Certificate for the deducted tax.
How to invest?
Click here to invest in the Punjab National Bank’s Recurring Deposit schemes.
Note: The information presented here is sourced from publicly available data. We cannot be held responsible for any inaccuracies in the details. For the most current and accurate information, please visit the official website of the respective bank/institution.