PNB Bank offers Income Tax saving fixed deposit schemes with higher rate of interest on deposits, You can check eligibility, features, rates & minimum deposit amount with other important information.
|Eligibility||· Individuals/Dependent(singly or jointly)
· Illiterate and Blind person
|Minimum Deposit||Rs 100 or in multiples, afterwards, subject to maximum deposit of Rs 1.50 lac per financial year.|
|Tenure||The minimum deposit period under this scheme is 5 years and the maximum deposit period is 10 years.|
|Lock Period||This scheme provides a lock period of up to 5 years.|
|Premature Withdrawal||· You can make premature withdrawals after the completion of 5 years of deposit.
· In case the depositor is dead before the maturity period of the Term Deposit then the assessment of penalty would be freed from responsibility and the nominee/legal heir will be allowed for premature payment even before the lock-in period as per rules.
|Interest||The interest is payable at card rate(link)
I. monthly at discounted value
on the date of maturity at the option of the depositor.
|TDS||TDS is applicable as per rules. The bank will issue TDS certificate of the tax deducted.|
|Other Facilities||· You shall enjoy the facility of reimbursement on income tax under sec 80 c.
· Even after lock in period of 5 years loans are available.