PNB Tax Saver Fixed Deposit Scheme

The PNB Tax Saver Fixed Deposit Scheme allows the customer with the benefit from preferential interest rates and in return helps them to save their investments from any extra taxation at the end of the tenure.

PNB Tax Saver Fixed Deposit Scheme Eligibility Criteria:

  • The applicant must be 18 years and above in age.
  • The applicant must have a regular income source.
  • The applicant must have an existing relationship with PNB, or he/she must provide with proper introduction letter according to the bank’s norms.
PNB Tax Saver Fixed Deposit Scheme Features:

Account Type

Single/Joint

Individuals, as well as non-individuals like Groups and organizations, can also apply.

HUFs are also allowed.

Deposit Amount

Minimum: Rs.100/-

Maximum: Rs.150000/-

Rate of Interest

7.25%-8.00% per annum

Period

Minimum: 60 Months

Maximum: 120 Months

TDS

TDS Certificate will be issued by the Bank

Lock-in Period

60 Months

Tax Rebate Applicability

Under Section 80C and the limits specified by the Income Tax Department, tax rebate is allowed 

Loan against PNB Tax Saver Fixed Deposit Scheme

Loan against the Bank is allowed only after completing the lock-in period of five years

Nomination

Available

Auto Renewals

For the tenure selected at the start of the deposit, auto renewal is valid, and it can be only renewed for the next year if the deposit is continued 

PNB Tax Saver Fixed Deposit Scheme Interest Rates:

The rate of interest is linked with the minimum rate set by the bank and therefore, PNB Tax Saver Fixed Deposit rates can range between 7.25%-7.50% per annum. And, for the senior citizens, the bank allows an additional 0.5% on their term deposits.

The interest rate availed on the deposit can be compounded quarterly or is payable at a discounted monthly or quarterly value. It all depends on the depositor’s choice he/she made during the scheme initiation.

Kindly Note: The mentioned interest rates totally rely on the bank’s liquidity requirements and market conditions, and therefore, they are subject to change without giving any prior notice.   

close
Top