PNB’s New Savings Plan: Earn 8.05% Interest in Just 400 Days

PNB has introduced a special 400-day fixed deposit scheme, offering up to 8.05% interest for super senior citizens. Senior citizens can earn 7.75%, while general citizens get 7.25%. This short-term savings plan ensures safe, high returns, making it an ideal choice for investors. Learn how to apply, eligibility, and benefits in this detailed guide.

By Praveen Singh
Published on
PNB’s New Savings Plan: Earn 8.05% Interest in Just 400 DaysPNB’s New Savings Plan: Earn 8.05% Interest in Just 400 Days
PNB’s New Savings Plan

Punjab National Bank (PNB) has launched a special fixed deposit (FD) scheme that offers an impressive 8.05% interest rate for super senior citizens in just 400 days. This new scheme, introduced in January 2025, is designed to provide high returns with minimal risk, making it an attractive option for savers looking for short-term investment opportunities.

PNB’s New Savings Plan

FeatureDetails
Scheme NamePNB Special Fixed Deposit Plan (400 Days)
Interest Rate for Super Seniors (80+ years)8.05% per annum
Interest Rate for Senior Citizens (60-80 years)7.75% per annum
Interest Rate for General Citizens7.25% per annum
Minimum Investment AmountAs per PNB guidelines
Maximum Investment Amount₹2 crore
Tenure400 days
Other Special FD Tenures303 days & 506 days
Where to Apply?PNB Official Website

The PNB 400-Day Fixed Deposit Plan is an excellent choice for short-term investors looking for safe and high returns. With interest rates of up to 8.05%, this scheme is perfect for super seniors, retirees, and risk-averse investors. If you’re looking to grow your savings securely, this PNB FD scheme is a must-consider investment option.

Understanding the PNB 400-Day Savings Plan

1. What is the PNB 400-Day Fixed Deposit Plan?

This special savings scheme is a fixed deposit plan designed for short-term investors looking for high returns with guaranteed security. With an interest rate of 8.05% for super senior citizens, 7.75% for senior citizens, and 7.25% for general citizens, this plan provides a higher return than most traditional savings accounts.

2. Who Can Apply?

This scheme is open to:

  • General citizens (anyone below 60 years)
  • Senior citizens (60 to 79 years)
  • Super senior citizens (80+ years)
  • Resident Indians and Hindu Undivided Families (HUFs)
  • Individuals or joint account holders
  • Trusts, partnership firms, companies, and NRIs (as per PNB rules)

3. How is the Interest Calculated?

Interest is compounded quarterly and credited at maturity. If you invest ₹1 lakh under different categories, the maturity amount will be:

Age GroupInterest RateMaturity Amount (₹1,00,000 Investment)
Super Seniors (80+ years)8.05%₹1,08,936
Senior Citizens (60-79 years)7.75%₹1,08,610
General Citizens (Below 60 years)7.25%₹1,08,080

see also: Which Banks Offer the Best FD Interest Rates?

How to Invest in the PNB 400-Day FD Plan?

Step 1: Check Eligibility

Ensure that you fall into one of the eligible categories (general, senior, or super senior citizen).

Step 2: Choose Investment Amount

Decide how much you want to invest. The minimum deposit amount is as per PNB’s guidelines, while the maximum limit is ₹2 crore.

Step 3: Visit PNB

You can open an FD account through:

  • PNB’s official website
  • PNB Mobile Banking App
  • Nearest PNB branch

Step 4: Submit Documents

Required documents include:

यह भी देखें ₹10,000 से शुरू करें LIC की शानदार FD स्कीम! 6.25% तक गारंटीड ब्याज

₹10,000 से शुरू करें LIC की शानदार FD स्कीम! 6.25% तक गारंटीड ब्याज, जानें डिटेल

  • PAN Card
  • Aadhaar Card
  • Bank account details
  • Address proof (if required)

Step 5: Choose Payout Option

Decide whether you want:

  • Quarterly interest payouts
  • Interest reinvested (compounded)

Step 6: Deposit Money & Get FD Receipt

Once the process is complete, you will receive an FD receipt or digital confirmation.

see also: FD Interest Rates for Senior Citizens: Latest Changes and Top Offers from Leading Banks

Comparing PNB’s 400-Day FD Plan with Other Banks

Let’s compare how PNB’s special FD scheme fares against other top banks in India:

BankSpecial FD TenureInterest Rate (General)Interest Rate (Senior Citizens)
PNB400 Days7.25%7.75%-8.05%
SBI400 Days (Amrit Kalash)7.10%7.60%
HDFC BankSpecial FD 35 months7.20%7.75%
ICICI Bank390 Days7.00%7.50%

PNB’s New Savings Plan FAQs

1. What happens if I withdraw my FD before 400 days?

PNB allows premature withdrawals, but a penalty of up to 1% may apply depending on the withdrawal time.

2. Can NRIs invest in this FD scheme?

Yes, NRIs can invest, but they must comply with PNB’s NRE/NRO account rules.

3. Is there a tax benefit on this FD?

Interest earned on FDs is taxable under Indian Income Tax laws. However, senior citizens can claim a deduction of up to ₹50,000 under Section 80TTB.

4. Can I extend my FD after 400 days?

Yes, upon maturity, you can choose to renew the FD or transfer the amount to your savings account.

5. What if PNB changes interest rates?

Once you invest, your interest rate is locked for 400 days, regardless of future rate changes.

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