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
| Feature | Details |
|---|---|
| Scheme Name | PNB 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 Citizens | 7.25% per annum |
| Minimum Investment Amount | As per PNB guidelines |
| Maximum Investment Amount | ₹2 crore |
| Tenure | 400 days |
| Other Special FD Tenures | 303 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 Group | Interest Rate | Maturity 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:
- 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:
| Bank | Special FD Tenure | Interest Rate (General) | Interest Rate (Senior Citizens) |
|---|---|---|---|
| PNB | 400 Days | 7.25% | 7.75%-8.05% |
| SBI | 400 Days (Amrit Kalash) | 7.10% | 7.60% |
| HDFC Bank | Special FD 35 months | 7.20% | 7.75% |
| ICICI Bank | 390 Days | 7.00% | 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.
