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.
Account Type | Organization/Joint/Single |
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 |
Period |
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Auto Renewals | Not until any amount is withdrawn from the bank, the scheme remains active.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 |
---|---|---|
Rs. 1070 | 6 | 9.00% |
Rs. 880 | 7 | 9.00% |
Rs. 730 | 8 | 9.00% |
Rs. 620 | 9 | 9.00% |
Rs. 530 | 10 | 9.00% |
Kindly Note: The above-mentioned interest rates on the deposits are subject to change without giving any prior notice.