Those who want to save their income for the big time can always opt for a fixed deposit scheme. But the fact that every fixed deposit scheme doesn’t avail liquidity options when required is what keeps people thinking before opting for a fixed deposit scheme. Hence, punjab national bank has come up with anupam term deposit scheme which allows the depositors to cancel the account prematurely anytime and also benefits them with attractive interest rates on their deposits.
|Rate of interest||The rate of interest under this scheme ranges between 7.25%-8% per annum.|
|TDS||TDS certificate will be issued by the bank|
|Tax rebate applicability||NA|
|Loan against pnb anupam term deposit scheme||NA (subject to change according to bank’s liquidity requirements and market conditions)|
|Auto renewals||It is only applicable for the tenure selected at the commencing period. Moreover, the renewal can be carried forward for another year if and only if the deposit under the scheme is continued.|
The rate of interest offered under this fixed deposit scheme ranges between 7.25%-8% per annum for the regular citizens. On the other hand, the senior citizens can avail extra interest on their deposits under this scheme.
Furthermore, the rate of interest on the deposit is compounded quarterly or at the end of maturity. Moreover, it is payable at a discounted monthly or quarterly value.
As the rates offered by the bank on the term deposit scheme are linked with the base rate of the bank, and therefore, the rates are subject to change according to the bank’s market conditions.