PNB Bank offers Recurring deposit schemes at higher rate of interest on deposits, You can check eligibility, features, rates & minimum deposit amount with other important information.
|Eligibility||· Any individual(singly or jointly) with others
· Minor who have attained the age of 10 years and above.
· Minor who is below 10 years of age can enjoy this scheme under the guidance of their guardian or parents.
· Proprietorship, Partnership Firm, Commercial Organization, Company, Corporate Body.
· Hindu Undivided Family (HUF)
· Association, Clubs, Society, Trusts or Religious Institution, Charitable and Educational Institutions
· Municipality or Panchayat, Government or Quasi-Government body
· Illiterate and blind person can also open this account
|Tenure of Recurring Deposit||A flexible tenure period of Recurring Deposit from 6 months to 120 months in multiples of 1 month|
|Irregular/Discontinued RD account||The payment on Recurring Deposit is due on maturity or one month after the deposit of the last installment, or whichever is later.|
|Pending Installments(non-deposit)||If the pending installments are not deposited till maturity date the interest will be paid on daily products basis compounded yearly.|
|Pending Installments(deposit)||If the pending installment is deposited before the maturity date, the penalty will be charged at Re. 1.00 for Rs 100 per month.|
|Overdraft/Loan||Available against deposit|
|Rate of Interest||Rate of Interest would be card rate as applicable to the time period of deposit as displayed on the bank website, it is also prior to change from time to time.|
|TDS||Applicable as per guidelines. The bank will issue the TDS Certificate for the tax deducted.|