Punjab National Bank Fixed Deposit

Sir I want to take the benefit for the PNB tax saver fixed deposit scheme so can you please tell me the documents required and the eligibility for the same

[Shaleen]

Punjab National Bank is an Indian multinational banking and financial services company.

It is a state-owned corporation based in New Delhi, India. Founded in 1894, the bank has over 6,300 branches and over 7,900 ATMs across 764 cities

PNB tax saver fixed deposit scheme 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.


PNB tax saver fixed deposit scheme eligibility

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

Features for the scheme

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