Punjab National Bank (PNB) has launched a highly attractive fixed deposit (FD) scheme that offers competitive interest rates for different age groups. With a tenure of 303 days, this scheme provides a 7% return for general citizens, 7.5% for senior citizens, and an impressive 7.85% for super senior citizens (aged 80 and above). If you’re looking for a safe, short-term investment option with guaranteed returns, this new FD scheme could be the perfect choice.
To help you understand the details, benefits, and how you can make the most of this scheme, we’ve broken down everything you need to know in this article.
FD scheme
| Feature | Details |
|---|---|
| Interest Rate (General Citizens) | 7% |
| Interest Rate (Senior Citizens) | 7.5% |
| Interest Rate (Super Senior Citizens) | 7.85% |
| Minimum Investment | ₹1000 |
| Maximum Investment | No Limit |
| Tenure | 303 Days |
| Compounding Frequency | Quarterly |
| Maturity Amount for ₹1,00,000 Investment | ₹1,05,810 (General), ₹1,06,220 (Senior), ₹1,06,500 (Super Senior) |
| Scheme Launch Date | January 1, 2025 |
| Bank Website | PNB Official Website |
If you’re looking for a low-risk, high-return, short-term investment, PNB’s new 303-day FD scheme is an excellent choice. With interest rates up to 7.85%, it outperforms many traditional FDs and offers guaranteed returns in less than a year.
FD scheme: Why PNB’s 303-Day FD Scheme is a Game-Changer
Short Tenure with High Returns
Most high-interest FD schemes require long tenures of 3-5 years. However, PNB’s 303-day tenure allows investors to earn attractive returns in less than a year—making it ideal for short-term savings goals.
Special Benefits for Senior Citizens
Senior citizens always receive better FD rates in India, but PNB’s 7.5% rate for senior citizens and 7.85% for super seniors is higher than most nationalized banks.
Guaranteed Returns with Zero Risk
Unlike stock market investments, which can be volatile, an FD is 100% safe. Your capital remains protected, and PNB is a government-backed bank, making it a secure investment choice.
How Much Will You Earn? – FD Maturity Calculator: If you invest ₹1,00,000 in this scheme, here’s how much you’ll get on maturity:
| Investor Category | Interest Rate | Maturity Amount (₹) |
|---|---|---|
| General Citizens | 7% | ₹1,05,810 |
| Senior Citizens (60+ years) | 7.5% | ₹1,06,220 |
| Super Senior Citizens (80+ years) | 7.85% | ₹1,06,500 |
Note: The calculations are based on quarterly compounding.
FD scheme Additional Option: PNB’s 506-Day FD Scheme
In addition to the 303-day scheme, PNB has introduced a 506-day FD option. Here are the details:
| Investor Category | Interest Rate (506 Days) |
|---|---|
| General Citizens | 6.7% |
| Senior Citizens (60+ years) | 7.2% |
| Super Senior Citizens (80+ years) | 7.5% |
This scheme is ideal for those looking for a slightly longer investment period with stable returns.
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FD scheme: How to Open a PNB Fixed Deposit Account
Online Method (Via PNB Internet Banking or Mobile App)
- Log in to your PNB Internet Banking or PNB One mobile app.
- Navigate to “Fixed Deposit” under “Deposit Services.”
- Choose the 303-day FD scheme from the available options.
- Enter the investment amount and choose the interest payout option.
- Confirm your details and submit the application.
Offline Method (Visit a PNB Branch)
- Visit your nearest PNB branch.
- Request a Fixed Deposit Account Opening Form.
- Provide necessary documents (Aadhaar, PAN card, and a passport-size photo).
- Deposit the amount via cash, cheque, or transfer.
- Collect the FD receipt for future reference.
Who Should Invest in This FD?
Best for Conservative Investors
If you prefer guaranteed returns over market risks, this FD scheme is perfect for you.
Ideal for Senior Citizens
Since the interest rate is higher for seniors, this is an excellent option for retired individuals looking for stable income.
Great for Short-Term Savings Goals
If you’re saving for a vacation, home renovation, or emergency fund, this 303-day FD provides quick and safe returns.
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FD scheme (FAQs)
Is the PNB 303-day FD better than regular FDs?
Yes! Most bank FDs require 1-3 years for similar interest rates. PNB’s scheme gives 7-7.85% returns in just 303 days, making it a better choice for short-term savings.
Can I withdraw my FD early?
Yes, but premature withdrawal penalties apply. The interest will be lowered by 1% if you break the FD before 303 days.
What happens if I don’t withdraw after 303 days?
PNB will automatically renew your FD at the prevailing interest rate, unless you choose to withdraw the amount.
Is there any tax benefit?
Regular FDs are taxable under your income slab. However, you can invest in a PNB tax-saving FD (5-year tenure) for tax deductions under Section 80C.
Is PNB a safe bank for FDs?
Absolutely! Punjab National Bank (PNB) is a government-owned bank, making it one of the safest places for FD investments.
