PNB Recurring Deposit Scheme

Features:

  • Eligible Customers - Individual (singly or jointly) with others/ Minors/ Hindu Undivided Family/ Proprietorship/ Partnership Firm/ Commercial Organization/ Company / Corporate Body/ Association/ Club/ Society/ Trust / Religious/ Charitable Educational Institutions/ Municipality/ Panchayat/ Government/ Quasi-Government body.
  • Fixed Monthly Instalment – Minimum ?100 per month.
  • Flexible Tenures: Between 6 months to 120 months in multiple of 1 months.
  • Standing Instruction facility available for deposit of monthly instalment.
  • Loan facility available against RD balance.
  • Premature withdrawal option available with 1% penal interest.
  • Nomination facility available.

Terms & Conditions:

  • Payment of RD will be due on maturity or one month after deposit of last installment, whichever is later.
  • TDS is applicable as per rules.
  • Delayed instalments can be deposited before maturity, by paying a nominal penalty of ?1 per ?100 per month.
  • In case of pending instalments at maturity, interest is applied on daily balances with half-yearly compounding.
  • Rate of interest would be card rate as applicable to all the tenors of deposit as displayed on website, subject to change from time to time.
  • Senior citizens of age 60 years and above to below 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5 years and 80bps for a period above 5 years on domestic deposits of less than ? 3 Crore.
  • Super Senior Citizens of age 80 years & above shall get an additional rate of interest of 80 bps over applicable card rate across all maturity buckets.