PNB New FD Scheme: Earn High Returns with the New 303-Day Fixed Deposit Plan

Punjab National Bank (PNB) has launched a new 303-day Fixed Deposit (FD) scheme offering up to 7.80% interest. With short tenure, high returns, and flexible options, this FD is perfect for investors looking for risk-free, short-term growth. Senior citizens benefit from higher rates, and easy online application makes investing seamless. Read on to learn why this FD is a smart investment choice for 2025.

By Praveen Singh
Published on
PNB New FD Scheme: Earn High Returns with the New 303-Day Fixed Deposit Plan
PNB New FD Scheme

Fixed deposits (FDs) have long been a preferred investment option for risk-averse investors seeking safe and guaranteed returns. In an exciting development, Punjab National Bank (PNB) has introduced a new 303-day FD scheme, offering attractive interest rates to its customers. Whether you’re a general investor, a senior citizen, or a super senior, this scheme provides a lucrative opportunity to grow your savings.

In this article, we break down the details of PNB’s 303-day FD scheme, covering interest rates, benefits, investment strategies, and practical advice to help you make an informed decision.

PNB New FD Scheme

FeatureDetails
FD SchemePNB 303-Day Fixed Deposit
Applicable BankPunjab National Bank (PNB)
Tenure303 days
Interest Rate (General Public)7.00% p.a.
Interest Rate (Senior Citizens – 60+)7.50% p.a.
Interest Rate (Super Seniors – 80+)7.80% p.a.
Maturity Amount (₹1,00,000 investment)₹1,05,929.86
Minimum Investment₹1000 (subject to bank policy)
Maximum InvestmentNo upper limit (as per bank norms)
Premature WithdrawalPermitted (with penalty)
Tax Deducted at Source (TDS)Applicable (as per IT Act)

PNB’s 303-day FD scheme is an excellent option for investors seeking high, risk-free returns in a short period. With competitive interest rates and flexible investment options, this FD is ideal for those who want to park their surplus funds safely while ensuring steady growth. Whether you’re planning for an upcoming expense or just looking for a secure investment, this scheme is worth considering.

Why Should You Consider PNB’s 303-Day FD Scheme?

PNB’s latest FD scheme is designed to offer high returns in a relatively short period. Here are a few reasons why this scheme stands out:

1. Higher Returns Compared to Savings Accounts

A standard savings account in most banks offers an interest rate between 2.5% and 4%, whereas this FD provides up to 7.80% for super seniors. This means your money grows significantly faster in this short-term fixed deposit.

2. Ideal for Short-Term Financial Goals

With a tenure of just 303 days, this FD is perfect for those who want to park their funds for less than a year while earning better returns than other low-risk options.

3. Guaranteed, Risk-Free Investment

Unlike stocks or mutual funds, FDs provide fixed returns with no risk of capital loss. Your investment is also insured up to ₹5 lakhs under the Deposit Insurance and Credit Guarantee Corporation (DICGC).

4. Senior Citizen and Super Senior Benefits

PNB offers higher interest rates for senior citizens (7.50%) and super seniors (7.80%), making it a great option for retirees seeking steady earnings.

see also: Axis Bank Fixed Deposit Update: Higher Interest Rates for Customers in 2025

How Much Can You Earn with This FD?

Here’s an example of how your investment will grow in this 303-day FD:

Investment AmountInterest RateMaturity Amount (After 303 Days)
₹1,00,0007.00% (General)₹1,05,929.86
₹1,00,0007.50% (Senior Citizens)₹1,06,376.71
₹1,00,0007.80% (Super Seniors)₹1,06,639.72

For higher investment amounts, simply multiply the maturity values accordingly.

How to Invest in PNB’s 303-Day FD Scheme?

Step 1: Check Eligibility

Anyone with a PNB account, including individuals, Hindu Undivided Families (HUFs), and businesses, can invest in this scheme.

Step 2: Choose Your Deposit Amount

Decide how much you want to invest. Ensure you have the funds available in your PNB savings or current account.

Step 3: Open an FD Account

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You can open an FD via online banking, mobile banking, or by visiting the nearest PNB branch.

Step 4: Select Interest Payout Option

  • Cumulative FD: Interest is compounded and paid at maturity.
  • Non-Cumulative FD: Interest is paid monthly or quarterly, ideal for retirees.

Step 5: Nomination & Documentation

Ensure you fill out nomination details and submit valid KYC documents (Aadhaar, PAN, etc.).

Step 6: Confirmation & Tracking

Once the FD is set up, you will receive a confirmation receipt. You can track it via PNB Net Banking or the PNB One Mobile App.

Comparison with Other FD Schemes

PNB also offers a 506-day FD scheme with the following interest rates:

TenureGeneral PublicSenior CitizensSuper Seniors
303 Days7.00%7.50%7.80%
506 Days6.70%7.20%7.50%

For those looking for shorter durations, the 303-day FD is an excellent choice.

see also: Latest Fixed Deposit Interest Rates?

PNB New FD Scheme FAQs

1. Can I withdraw my FD before 303 days?

Yes, but a penalty may apply on premature withdrawal.

2. Is TDS deducted on interest earned?

Yes, if interest earned exceeds ₹40,000 per year (₹50,000 for seniors), TDS will be deducted as per Income Tax Act rules.

3. Can I renew this FD after maturity?

Yes, PNB allows automatic renewal or reinvestment upon maturity.

4. Is this FD available for NRIs?

Yes, NRE and NRO account holders can avail of this scheme.

5. How is the interest rate calculated?

Interest is compounded quarterly and paid at maturity or at chosen payout intervals.

यह भी देखें पोस्ट ऑफिस FD में पैसे निवेश करने से पहले जरूर जानें ₹2 लाख की FD पर कितना मिलेगा रिटर्न?

पोस्ट ऑफिस FD में पैसे निवेश करने से पहले जरूर जानें ₹2 लाख की FD पर कितना मिलेगा रिटर्न?

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