CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
List of recurring deposit rates across all banks in India
Punjab National Bank has a significant presence in the northern regions especially in Punjab, Haryana, New Delhi, Chandigarh etc., The bank provides employment for over 70,000 individuals. The bank offers competent products and services, they are customized as per the requirement of the customers. The interest rates are competent, the solutions are extended to urban, semi-urban and rural regions in the northern part of India.
About Punjab National Bank Recurring Deposit Rate
Recurring deposit is a special kind of term deposit offered by most banks in India. The arrangement under this deposit account requires the account holder to invest a fixed amount every month into their recurring deposit account. The investment made will earn interest at a rate applicable to fixed deposits. The recurring deposit account can be initiated with a minimum contribution of Rs. 500 and Rs. 1000. The tenure can be 6 months to 10 years. It is suitable for investors who intend to commit on investing over the short or medium or long term. The short tenure of 6 months especially works well for individuals who do not have a predictable source and quantum of income. An investor opening the recurring deposit account must determine the monthly contribution and tenure. Based on these two aspects the interest rates are determined. The interest rates for the recurring deposit account is like that of fixed deposits. The maturity value is indicated to the customer assuming that the monthly installments will be paid regularly on due dates. If the installment is delayed or missed, a penalty is levied in the form of reduced interest rate. The maturity value which is eventually paid out will be will be lower than the indicated value. The rate of penalty will be indicated upfront. Interest is compounded on a quarterly basis in recurring deposits. Account holder can avail loans against the collateral of recurring deposit up to 90% of the deposit value.
The recurring deposits from Punjab National Bank are designed to encourage account holders to invest regularly. The minimum amount that needs to be deposited as monthly installment is Rs. 100/-, the amount can be incremental in multiples of Rs. 100/- thereof. There is no maximum limit applicable as monthly installment. The tenure can range between 6 months to 120 months, the incremental tenure is 1 month starting with a minimum of 6 months. Loans and overdraft facility is available on recurring deposit with PNB. Nomination facility is also available. The interest rates are updated and published on the official website of PNB from time to time. The latest interest rates are applicable as on the date of deposit. TDS is applicable on interest earned at 10.3%, the bank will provide the TDS certificate at the end of assessment year as applicable.
The types of Recurring deposit available with PNB are –
Eligibility for PNB Recurring Deposit Scheme
Features of PNB Recurring Deposit Scheme
Eligibility for Special Recurring Deposit
Features and benefits of PNB Special Recurring Deposit Scheme
Eligibility for Recurring Deposit Scheme (e-RD)
Features and benefits of Recurring Deposit Scheme (e-RD)
Punjab National Bank offers competitive interest rates on recurring deposit schemes. They also extend special additional interest rate for senior citizens.
Rate Of Interest On Single Domestic Term Deposits (TD) And NRE Term Deposits Of Upto Rs.10 Cr
The Senior citizens shall get an additional rate of interest of 50 bps over applicable card rates for all maturities on domestic deposits of less than Rs. 1 Crore. In case of staff members as well as retired staff members who are also Senior Citizens, maximum rate of interest to be allowed over applicable card rate shall be 150 bps except in case of PNB Tax Saver Fixed Deposit Scheme, where the maximum rate of interest to be allowed over applicable card rate is 100 bps.
These revised interest rates will be applicable to the fresh deposits and renewal of existing Term deposits with effect from 01.11.2018 The above rates shall also be applicable to NRE term deposits.
1. What documents qualify for opening a Punjab National Bank recurring deposit scheme?
Identity Proof:copy of passport, PAN card, Aadhar card, Voter ID, Driving license, Ration card, Government ID card, Senior citizen card. Address Proof: copy of passport, Aadhar card, electricity bill, phone bill, bank statement with cheque
2. How to apply for an RD with Punjab National Bank?
There are multiple means of applying for an RD with PNB. One can visit the official website and sign up giving the bare minimum details including name and contact details and intent to open recurring deposit. A customer representative will get in touch to guide the individual or potential customer through the entire process. Alternatively, the potential customer can walk into the nearest branch and fill out the form applicable for opening recurring deposit account. The documents required for opening the account are identity proof, address proof, initial deposit amount. These documents along with photo and filled application form needs to be submitted for further processing.
Product offers,Usefulness of information,Credit Report Analysis,Website/app interface,
Get loans starting from 11.25% interest rate
Know how to improve credit score
FREE credit analysis for 1 year
Andhra Bank Recurring Deposit Rate
Axis Bank Recurring Deposit Rate
Bandhan Bank Recurring Deposit Rate
Bank Of Baroda Recurring Deposit Rate
Bank Of India Recurring Deposit Rate
Bank Of Maharashtra Recurring Deposit Rate
Canara Bank Recurring Deposit Rate
Central Bank Of India Recurring Deposit Rate
Citibank Recurring Deposit Rate
City Union Bank Recurring Deposit Rate
Corporation Bank Recurring Deposit Rate
DCB Bank Recurring Deposit Rate
Deutsche Bank Recurring Deposit Rate
Dhanlaxmi Bank Recurring Deposit Rate
Federal Bank Recurring Deposit Rate
HDFC Bank Recurring Deposit Rate
ICICI Bank Recurring Deposit Rate
IDBI Bank Recurring Deposit Rate
Indian Bank Recurring Deposit Rate
Indian Overseas Bank Recurring Deposit Rate
IndusInd Bank Recurring Deposit Rate
Jammu Kashmir Bank Recurring Deposit Rate
Karnataka Bank Recurring Deposit Rate
Karur Vysya Bank Recurring Deposit Rate
Kotak Mahindra Bank Recurring Deposit Rate
Lakshmi Vilas Bank Recurring Deposit Rate
Oriental Bank Of Commerce Recurring Deposit Rate
Punjab Sind Bank Recurring Deposit Rate
RBL Bank Recurring Deposit Rate
SBI Recurring Deposit Rate
South Indian Bank Recurring Deposit Rate
State Bank Of Travancore Recurring Deposit Rate
SVC Bank Recurring Deposit Rate
Syndicate Bank Recurring Deposit Rate
Tamilnad Mercantile Bank Recurring Deposit Rate
UCO Bank Recurring Deposit Rate
Union Bank Of India Recurring Deposit Rate
Vijaya Bank Recurring Deposit Rate
YES Bank Recurring Deposit Rate
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.