Punjab National Bank has come up with another exclusive term deposit product for its customers. The PNB Lakhpati Deposit Scheme is a two-in one deposit scheme where the customer can avail the benefits of it being a fixed deposit account as well as a recurring deposit account. On the basis of maturity period, the fixed deposit works where the recurring deposit at the end of the tenure becomes fixed deposit.
|Amount||For the recurring deposit, the minimum amount can vary from Rs.1000, Rs.1200, Rs.1500, and Rs.2100.|
|Rate of Interest||9% per annum|
Minimum: 57 Months
Maximum: 10 Years
|TDS||The bank will issue a TDS certificate for the tax deducted|
|Loan against Punjab National Bank - PNB Lakhpati Scheme||Available|
|Nomination (if any)||N.A.|
|Auto Renewals||Not until any amount is withdrawn from the bank, the scheme remains active.|
|Period of Deposit||The maximum of 10 years is what available for deposit. Moreover, you can choose the recurring deposit to be a period of 2, 3, 4 or 5 years.|
|Amount||Tenure in Years||Rate of Interest|
Kindly Note: The above-mentioned interest rates on the deposits are subject to change without giving any prior notice.