Punjab National Bank provides Tax Saver Fixed Deposit Scheme.

PNB Tax Saver Fixed Deposit Scheme

Individuals (including illiterate, blind persons), singly or jointly, and HUF

Minimum Deposit Rs100/- or in multiples thereof, subject to maximum deposit of Rs. 1.50 lac per financial year

Min deposit period 5 years & Max deposit period 10 years.

Rebate on income tax under Sec. 80 c

Nomination facility Available

Lock in period of 5 years.

Loan available after lock in period of 5 years against Deposit
Premature withdrawals are allowed after the completion of 5 years of deposit.

Interest on deposits is payable either monthly at discounted value or quarterly or compounded quarterly or on the date of maturity at the option of the depositor as applicable under particular deposit scheme.

Interest on overdue deposit is paid if the deposit is renewed, as decided by the Bank from time to time.

Interest on bank deposits is exempt from income tax up to a limit specified by Income Tax authorities from time to time.

The Bank will issue TDS Certificate for the tax deducted.

Documents required:

The Bank requires a satisfactory introduction of the person/s opening the account by a person acceptable to the Bank.

The Bank is required to obtain two recent photographs of the person/s opening the account, as per RBI directives.

The Bank is required to obtain Permanent Account Number (PAN) or General Index Register (GIR) Number or alternatively obtain declaration in Form No.60 or 61 as per the Income Tax Act (vide Section 139A) from the person/s opening the account.

Customer Care Division-

Toll Free No.
1800 180 2222
1800 103 2222
Tolled No. 0120-2490000
Landline :011-23714562