PNB Anupam Term Deposit Scheme
PNB Anupam Term Deposit is a fixed deposit scheme from Punjab National Bank that pays the bank's current card rate of interest and allows premature withdrawal at any time. It accepts deposits from Rs.10,000 to Rs.2,99,99,000, in tenures of six months to ten years, and is open to individuals, sole proprietorships, partnerships, trusts and companies.
Punjab National Bank (PNB) offers its customers an option to open a fixed deposit account that allows them to benefit from preferential interest rates and also allows premature cancellation of the deposit at any given point of time. This specific scheme is known as PNB Anupam Term Deposit.
Eligibility Criteria for applying for PNB Anupam Term Deposit
The basic eligibility criteria for opening an Anupam Term Deposit with Punjab National Bank are as follows:
- Individuals, sole proprietorship concerns, partnership firms, associations, trusts and limited companies can open a PNB Anupam Term Deposit account.
- A PNB Anupam Term Deposit account cannot be opened in the name of a minor, an illiterate person, or a blind person.
Apart from the above mentioned basic criteria, the bank might require additional conditions to be fulfilled, based on its discretion.
Features of PNB Anupam Term Deposit
Feature | Details |
Account Type | Both individuals and non-individuals can apply. Hindu Undivided Families allowed. Accounts can be jointly held |
Deposit Amount | Minimum starting deposit is INR 10000. Minimum subsequent deposit is in multiples of INR 1000. Maximum deposit will be Rs.2,99,99,000 |
Rate of Interest | Between 5.60% p.a. to 6.35% p.a. for the general public. Between 6.10% p.a. to 6.85% p.a. for senior citizens |
Period | Minimum duration: 6 months. Maximum duration: 10 years |
TDS | TDS Certificate will be issued by the Bank |
Lock-in Period | N/A |
Tax Rebate Applicability | N/A |
Loan against PNB Anupam Term Deposit Scheme | An overdraft facility is available against the deposit through a linked current account, as per bank guidelines. |
Nomination | Nomination facility is available |
Auto Renewals | The scheme is valid only for the period selected at initiation. Renewal for another year happens only if the deposit is continued. |
Note: The interest rates are effective from 01 June 2026.
- PNB Anupam Term Deposit does not permit any third-party advance against the deposit.
- More than one term deposit can be added to an existing PNB Anupam Term Deposit account, so a depositor does not need to open a new account each time.
PNB Anupam Term Deposit Scheme Interest Rates
The interest rates offered on PNB Anupam Term Deposits are linked to the base rate of the bank. The rates could be anywhere from 5.60% p.a. to 6.35% p.a. for the general populace. Senior citizens might get an additional rate over and above the advertised rates.
Interest on the deposit made is payable at a discounted monthly value or quarterly. It could also be compounded quarterly (reinvested) or on the date of maturity, based upon the choice of the depositor during the initiation of the scheme. In case a deposit is overdue, interest might be payable but will be based on the discretion of the bank.
All the above mentioned rates are dependent on the bank's discretion and are liable to change anytime.
Summary
PNB Anupam Term Deposit is Punjab National Bank's fixed deposit scheme for individuals, firms, trusts and companies, offering deposits from Rs.10,000 to Rs.2,99,99,000 for tenures of six months to ten years at the bank's prevailing card rate. It permits premature withdrawal at any time and an overdraft facility against the deposit. Visit a PNB branch with the required documents to open a PNB Anupam Term Deposit account.
FAQs on PNB Anupam Term Deposit Scheme
1.What is PNB Anupam Term Deposit?
PNB Anupam Term Deposit is a fixed deposit scheme offered by Punjab National Bank that pays interest at the bank's prevailing card rate and allows the depositor to withdraw the deposit prematurely at any time. It is designed for depositors who want the returns of a fixed deposit without giving up liquidity.
2.Who is eligible to open a PNB Anupam Term Deposit?
Individuals, sole proprietorship concerns, partnership firms, associations, trusts and limited companies can open a PNB Anupam Term Deposit with Punjab National Bank. The account cannot be opened in the name of a minor, an illiterate person, or a blind person.
3.What is the minimum and maximum deposit amount for PNB Anupam Term Deposit?
PNB Anupam Term Deposit has a minimum deposit requirement and a maximum deposit limit, both listed in the features table above, and any subsequent deposit must be made in fixed multiples.
4.What interest rate does PNB Anupam Term Deposit offer?
PNB Anupam Term Deposit earns interest at Punjab National Bank's card rate applicable to the chosen tenure, with a higher rate for senior citizens. The current rates are listed in the features table above.
5.What is the tenure of a PNB Anupam Term Deposit?
A PNB Anupam Term Deposit can be opened for any period from six months up to ten years, giving depositors flexibility to match the tenure to their savings goal.
6.What documents are required to open a PNB Anupam Term Deposit?
Opening a PNB Anupam Term Deposit needs an introduction from an existing PNB customer or proof of an existing banking relationship, along with government-attested identity proof and PAN details or Form 60/61. Two recent passport-size photographs of the applicant are also required.
7.How can I apply for a PNB Anupam Term Deposit?
You can apply for a PNB Anupam Term Deposit by visiting any Punjab National Bank branch with the required documents and the minimum deposit amount.
8. Is there a lock-in period on PNB Anupam Term Deposit?
PNB Anupam Term Deposit has no lock-in period, so the depositor can prematurely close the account at any time and receive the principal along with the accrued interest.
9.Can I get a loan against PNB Anupam Term Deposit?
PNB Anupam Term Deposit allows an overdraft facility against the deposit through a linked current account, subject to Punjab National Bank's guidelines. Check with your branch for the current terms on availing this facility.
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