PNB Bank offers Sugam Term deposit schemes to Individual/dependent at higher rate of interest on deposits, You can check eligibility, features, rates & minimum deposit amount with other important information.
Features
| Eligibility | · Any Individual/dependent(singly or jointly with others).
· A minor of 10 years and above in his own name. · A minor who is below 10 years under his/her guardian or parents. · Proprietorship, Partnership Firm, Commercial Organization, Company, Corporate Body. · Hindu Undivided Family (HUF) · Association, Clubs, Society, Trusts or Religious Institution, Charitable and Educational Institutions · Municipality or Panchayat, Government or Quasi-Government body · Illiterate and blind person can also open this account |
| Period of FDR | The minimum period is 46 days to maximum 120 months even for incomplete quarters. |
| Part Withdrawal | You can withdraw a part of any amount from your saving account under this scheme in multiple of Re 1 subject to minimum amount of Rs 1000, which is permitted only without breaking the entire deposit and without losing interest on the remaining balance(deposit). |
| Pre-mature withdrawal | There is no penalty for pre-mature withdrawal |
| Interest | The interest is paid on a monthly basis at discounted value or quarterly or compounded quarterly. |
| Rate of Interest | The rate of interest would be the CARD rate (LINK) which is applicable to the time period of deposit as displayed on the website. It is subjected to change from time to time. |
| Nomination Facility | Available |
| TDS | Applicable as per guidelines. The bank will issue the TDS Certificate for the tax deducted. |
