This article offers a brief summary of the key aspects of the Punjab National Bank‘s Senior Citizens Savings 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 – Senior Citizens Savings Scheme Features:
- Investment: Minimum: Rs 1,000 Maximum: Rs 15 lakh (Deposits in multiples of Rs 1,000) Interest, as per Government of India guidelines, is payable from the date of deposit until 31st March/30th June/30th September/31st December.
- Initially credited on the 1st working day of April/July/October/January, and subsequently, interest will be paid on the 1st working day of April/July/October/January.
- Tenure: Initially 5 years, extendable by an additional 3 years (once only).
- Interest rates are notified by the Ministry of Finance/Reserve Bank of India before April 1 each year, aligned with G-Sec rates of similar maturity.
How to invest?
Click here to invest in the Punjab National Bank’s Senior Citizens Savings 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.