Eligibility to Open PNB Fixed Deposit

The following individuals and entities are eligible to avail Punjab National Bank fixed deposit schemes and applicable interest rates.

• 1

  Indian Residents

  Individuals residing in India can open a PNB Fixed Deposit.

• 2

  Minors (10 years and above)

  Minors aged 10 years or above are eligible to open an FD as per bank rules.

• 3

  Business & Institutional Entities

  Proprietorship firms, partnership firms, companies, corporate bodies, and commercial organisations are eligible

• 4

  HUF & Associations

  Hindu Undivided Families (HUF), trusts, societies, clubs, and associations can open FDs.

• 5

  Educational & Charitable Institutions

  Educational institutions and charitable organisations are allowed to invest in PNB FDs.

Documents Required for PNB Fixed Deposit

Applicants must submit valid identity and address proof documents to open a Fixed Deposit with Punjab National Bank.

• 1

  PAN Card

  Mandatory for fixed deposit investment and tax purposes.

• 2

  Identity Proof

  Aadhaar Card, Voter ID Card, Driving Licence, or Passport.

• 3

  Address Proof

  Any valid government-issued address proof document.

• 4

  Photographs

  Two latest passport-size photographs are required.

• 5

  NRI Documents (If Applicable)

  Residence permit, visa, employment visa, or authorised work permit for NRIs.

Online Fixed Deposit Application

Punjab National Bank allows customers to open a Fixed Deposit online through internet banking or the PNB One mobile app.

1. 1

   Log in to PNB Platform

   Log in to PNB Internet Banking or the PNB One app using your credentials.

2. 2

   Select Fixed Deposit Option

   Navigate to the Term Deposit / Fixed Deposit section.

3. 3

   Enter Deposit Details

   Enter the FD amount, choose the FD type and select the tenure.

4. 4

   Choose Preferences

   Select interest payout frequency and enable auto-renewal if required.

5. 5

   Review and Confirm

   Review the entered details, accept the terms and conditions, and receive the e-TDR receipt.

Offline Fixed Deposit Application

Punjab National Bank allows customers to open a Fixed Deposit by visiting the nearest bank branch and completing the application process in person.

1. 1

   Submit Documents

   Submit the required KYC and identity documents.

2. 2

   Fill Application Form

   Fill out the Fixed Deposit application form provided at the branch.

3. 3

   Submit Documents

   Submit the required KYC and identity documents.

4. 4

   Deposit Amount

   Deposit the FD amount through cash, cheque, or account transfer.

Interest earned on Punjab National Bank Fixed Deposits is fully taxable as per applicable income tax rules. The interest amount is added to the depositor’s total income and taxed according to their income tax slab. Examples: If you earn ₹25,000 as FD interest in a year, it will be added to your taxable income. If your total income falls in the 20% tax slab, tax will be calculated accordingly.

TDS may be deducted on FD interest if the interest income exceeds the prescribed limit in a financial year, as per income tax rules. Examples: If FD interest crosses the TDS threshold, the bank may deduct tax before crediting interest. TDS deducted will be reflected in Form 26AS.

PNB Tax Shield Fixed Deposit allows investors to claim tax deductions on invested amounts. This FD has a mandatory lock-in period of 5 years. Examples: Investment of ₹1,50,000 in a PNB Tax Shield FD can be claimed as a deduction under Section 80C. Amounts invested beyond ₹1.5 lakh do not qualify for additional tax benefits.

PNB Tax Shield Fixed Deposit has a fixed lock-in period of 5 years. Premature withdrawal is not permitted during the lock-in period. Examples: An FD booked in April 2025 can be withdrawn only after April 2030. Loan or premature closure is not allowed before completion of 5 years.

What is the minimum amount required to open a PNB FD?

The minimum deposit amount usually starts from ₹1,000, subject to bank terms.

Do senior citizens get extra interest on PNB FDs?

Yes, senior citizens receive an additional interest rate over regular FD rates.

Is premature withdrawal allowed on PNB Fixed Deposits?

Yes, premature withdrawal is allowed, but a penalty may be charged depending on the tenure.

Are PNB FD interest rates the same for all tenures?

No, interest rates vary based on the deposit tenure and amount.

Is Tax Saver FD available at PNB?

Yes, PNB offers a 5-year Tax Saver FD, which qualifies for tax deduction under Section 80C.

How is FD interest paid?

Interest can be paid monthly, quarterly, annually, or at maturity, depending on the chosen option.