PNB Bank Tax Saving FD Scheme
The Punjab National Bank Tax saving tenure ranges from min 5 Year 1 Months 7 Days to max 10 Year 2 Days . The ROI ranges from 6.50% to 6.50 % for the general public. The lock-in period for this scheme is 5 Year
Punjab National Bank Tax saving Scheme for amount ranging from ₹ 100 to ₹ 1.5 L
The rate of interest for deposited amount ranging from ₹ 100 to ₹ 1.5 L is as below
Interest Rate for General Public (p.a.)
Interest Rates for Senior Citizens (p.a.)
|5 Year 1 Months 7 Days Upto 10 Year 2 Days
|Upto 5 Year 1 Months 7 Days
Key features of Punjab National Bank Tax saving Scheme
Summary of Punjab National Bank Tax saving Scheme features :
|Mutual Fund Schemes
|Loan Against FD
5 Year 1 Months 7 Days to 10 Year 2 Days
6.50% to 6.50 %
7.00% to 7.00 %
Rs.100 to Rs.1,50000
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
The PNB Tax Saver FD scheme allows investors to earn lucrative and secure deposit returns. This investment cum savings scheme enables the investors to park their corpus in a safe and secure investment product. The financial institution offers the PNB Tax shield scheme to allow investors to save tax while simultaneously earning substantial profits.
PNB Bank is one of the most well-established public sector banks in the banking sector, offering a diverse set of investment and financial products to the customer base in India.
The following individuals can park their investment in the PNB Tax Saver FD.
- Indian Citizens
- Salaried and self-employed individuals
- Minors (Can be established if it is a joint account)
- Hindu Undivided Family
An individual that is inclined to invest in a PNB Tax Saver Fixed Deposit Scheme is required to produce the following documents:
Documents to be Produced for Identification Proof
- PAN Card (Permanent Account Number)
- Driving License
- Voter ID
- Government ID
- Senior Citizen ID Card
Documents to be Produced for Address Proof
- Telephone Bill
- Electricity Bill
- Bank Statement
- The post office issued an ID.
The applicant for the scheme is also required to produce two passport-size photographs and documents.
The PNB Bank Tax Saver FD entails the following key attractions:
- The PNB Bank Tax Saver FD allows investors to establish a joint account.
- The investor can establish a PNB Bank tax-saver FD with a minimum deposit of Rs 100.
- The depositor can earn interest on their Fixed deposits on a cumulative and non-cumulative basis.
- An additional interest rate of 0.5% is offered to the senior citizens who have parked their corpus in the deposits.
Features & Benefits
The PNB Bank Tax Saver FD entails the following features and provides the following benefits:
- The individuals and entities such as a Hindu Undivided Family can apply to the scheme.
- The tenure of the investment ranges from five to ten years.
- The lock-in period of this investment scheme is five years.
- The depositor can allot a nominee or beneficiary to the scheme.
How to Apply for PNB Bank Tax Saving FD
An investor can establish their PNB Bank Tax Saving FD account through the following avenues:
PNB Tax-Saving FD Online
The applicant can open their PNB Tax Saving FD account through their netbanking account. The individual can obtain their application form and mention details such as amount, tenure, maturity collection option, nomination and interest payment option. The returns from the investment will be deposited automatically in the savings bank account. The applicant will receive the deposit receipt in their registered e-mail. The applicant must not submit any other documents if they have updated their KYC.
PNB Tax- Saving FD Offline
The applicant must visit the nearest branch and accurately fill out the opening form. They must also submit other documents authenticating their identification proof such as PAN, Aadhaar Card, Voter ID, passport-size photographs, etc.
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What is PNB Bank Tax Saving FD?
The PNB Bank Tax-Saving FD is an investment cum saving instrument where investors can park their deposits with assured returns.
Is it good to invest in PNB Bank Tax Saving FD?
The PNB Bank Tax-Saving FD allows booking sufficient returns on their investments which they can avail of through cumulative and non-cumulative options.
What is the minimum tenure for PNB Bank Tax Saving FD?
The minimum tenure of the PNB Bank Tax Saving FD is five years.