PNB Senior Citizen Bank FD Scheme : Punjab National Bank (PNB) has introduced an excellent Fixed Deposit (FD) scheme for its customers, where an investment of ₹1,00,000 can earn a safe and guaranteed return of up to ₹23,872 in interest. This scheme is especially beneficial for investors who want to grow their money without taking any risks. The bank offers this FD scheme for different tenures, and the interest rates depend on the duration of the deposit. Generally, the highest interest rates are offered on long-term deposits of up to five years. PNB’s special offer is even more rewarding for senior citizens, as they receive additional interest benefits.
PNB Senior Citizen Bank FD Scheme : Key Benefits of PNB Fixed Deposit 2025
The biggest advantage of this FD scheme is that investors receive guaranteed returns, meaning market fluctuations do not affect the investment. When you deposit ₹1,00,000 for 5 years, you can earn around ₹23,872 as interest. The interest rate ranges between 6.5% to 7.5%, and senior citizens get an additional 0.5%. Additionally, investors can choose to receive interest monthly, quarterly, or on maturity. If you choose a 5-year tax-saving FD, you can also claim tax benefits.
Investment Process and Interest Calculation in PNB FD 2025
The investment process in PNB’s FD scheme is very simple. Customers can open an FD either by visiting the bank branch or through online net banking/mobile banking. Interest is calculated on a compound interest basis, which means the deposit grows every year. For example, if you invest ₹1,00,000 for 5 years at a 7% interest rate, the maturity amount becomes approximately ₹1,23,872. Customers can also opt for auto-renewal to continue earning interest without interruption.
Additional Benefits for Senior Citizens
Senior citizens get a higher interest rate on PNB FD, usually 0.5% more than regular customers. For example, if the normal rate is 7%, senior citizens receive 7.5%. With this higher rate, the maturity amount for a 5-year deposit can reach up to ₹1,24,600. This scheme is ideal for retired individuals who want safe and steady returns every year.
Tax and Loan Facility on PNB FD
Interest earned on PNB FD is subject to TDS under the Income Tax Act. However, if your interest income is below the taxable limit, you can avoid TDS by submitting Form 15G/15H. You can also avail loan or overdraft facilities against your FD, ensuring you never face a financial crunch in emergencies. Overall, this PNB FD scheme is a secure, stable, and reliable investment option for individuals seeking guaranteed returns.