PNB Bank offers Income Tax saving fixed deposit schemes with higher rate of interest on deposits, You can check eligibility, features, rates & minimum deposit amount with other important information.
| “PNB TAX SAVER FIXED DEPOSIT SCHEME” With Effect From 26.10.2022 | ||||
|---|---|---|---|---|
| Public
(General) |
Sr. Citizen
(General) |
Staff Members | Retired Staff*
(Sr. Citizen) |
|
| 5 Years | 6.10 | 6.60 | 7.10 | 7.10 |
| >5 Years to 10 years | 6.10 | 6.60 | 7.10 | 7.10 |
| *Note: In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed is 100 bps over the applicable card rates. | ||||
In case of PNB Tax Saver Fixed deposit scheme, staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate is 100 bps.
Features
| Eligibility | · Individuals/Dependent(singly or jointly)
· Illiterate and Blind person · HUF |
| Minimum Deposit | Rs 100 or in multiples, afterwards, subject to maximum deposit of Rs 1.50 lac per financial year. |
| Tenure | The minimum deposit period under this scheme is 5 years and the maximum deposit period is 10 years. |
| Nomination facility | Available |
| Lock Period | This scheme provides a lock period of up to 5 years. |
| Premature Withdrawal | · You can make premature withdrawals after the completion of 5 years of deposit.
· In case the depositor is dead before the maturity period of the Term Deposit then the assessment of penalty would be freed from responsibility and the nominee/legal heir will be allowed for premature payment even before the lock-in period as per rules. |
| Interest | The interest is payable at card rate(link)
I. monthly at discounted value II. quarterly III.compounded quarterly on the date of maturity at the option of the depositor. |
| TDS | TDS is applicable as per rules. The bank will issue TDS certificate of the tax deducted. |
| Other Facilities | · You shall enjoy the facility of reimbursement on income tax under sec 80 c.
· Even after lock in period of 5 years loans are available. |
