Features
| Eligibility | · This scheme by PNB is meant for only High Networth Individuals.
· Company/Corporate body · Public Sector Undertaking · Commercial Organization |
| Objective | This scheme contributes a deposit product which is market determined interets rate linked to MIBOR(Mumbai Inter Bank Offer Rate) NSE overnight. |
| Applicability | This scheme is only meant for the CBS branches of Metro City only. |
| Amount of Deposit | A singlr deposit of more than Rs 10 crore is to be made and afterwards in multiples of Re 1. |
| Period of Deposit | The minimum time period for the deposit of money is 7 days to a maximum of 60 days. |
| Rate of Interest | Linked to MIBOR(NSE overnight) with dailt reset(simple interest). |
| Premature Payment | You have to pay no penalty for premature or part withdrawal, although a clear working day notice is very much required to withdraw the funds from your fixed deposit under this scheme. |
| Auto-renewal | Under this scheme, the auto-renewal of the fixed deposit shall be carried out at the time of maturity. |
| TDS | TDS is applicable as per rules. The bank will issue TDS certificate of the tax deducted. |
| Loan/Overdraft Facility | Not available |
