When it comes to securing your savings and earning a steady, reliable return, few options match the Fixed Deposit (FD) schemes offered by leading banks. One such standout offering is the Punjab National Bank (PNB) 401-day Fixed Deposit, which is attracting attention due to its competitive interest rates and secure investment benefits.
With interest rates as high as 7.75% per annum for senior citizens and 7.25% for the general public, PNB’s FD scheme is an excellent choice for risk-averse investors looking to maximize returns.
PNB’s 401-Day Fixed Deposit
| Feature | Details |
|---|---|
| Bank Name | Punjab National Bank (PNB) |
| Scheme | 401-Day Fixed Deposit |
| Interest Rate (General Public) | 7.25% per annum |
| Interest Rate (Senior Citizens) | 7.75% per annum |
| Minimum Deposit | ₹10,000 (Varies by branch) |
| Maximum Deposit | Up to ₹3 crore |
| Premature Withdrawal | Allowed (with penalty) |
| Additional Benefits | Auto-renewal, Loan Facility |
| Official Website | PNB Official Website |
The PNB 401-Day Fixed Deposit is a fantastic investment for those looking for high returns with zero market risk. With interest rates up to 7.75%, easy liquidity options, and secure returns, this scheme is ideal for both short-term and long-term financial goals.
Why Choose Punjab National Bank’s 401-Day Fixed Deposit?
1. Competitive Interest Rates
One of the biggest reasons to consider this 401-day FD is its high-interest rate compared to regular savings accounts, which generally offer around 3%–4% annual interest.
Example: If you invest ₹1,00,000 in this FD, you would earn approximately ₹7,250 in interest after 401 days at the 7.25% rate for regular investors.
2. Low-Risk, High-Security Investment
Unlike stocks or mutual funds, Fixed Deposits are not affected by market volatility. This makes them a safe and predictable investment option, particularly for individuals who prioritize capital protection over high risk.
3. Additional Benefits for Senior Citizens
PNB provides an extra 0.50% interest to senior citizens, making their effective rate 7.75%. This makes it one of the most rewarding FD schemes for retirees looking for stable income.
4. Flexible Deposit Amount & Tenure
- You can start with as little as ₹10,000.
- Maximum deposit can go up to ₹3 crore.
- Available for both individuals and businesses.
5. Loan Facility Against FD
Instead of breaking your FD prematurely, PNB allows you to take a loan of up to 90% of your deposit value. This is useful in case of emergencies without losing interest benefits.
6. Premature Withdrawal & Auto-Renewal
- Premature withdrawals are allowed but may come with a small penalty.
- You can set up an auto-renewal feature so that your FD continues to earn interest beyond 401 days without any manual intervention.
see also: Highest Fixed Deposit (FD) Interest Rates
How to Open a PNB 401-Day Fixed Deposit?
Opening an FD account with Punjab National Bank is simple and can be done both online and offline.
A. Online Method (Via PNB Net Banking or Mobile App)
- Log in to your PNB Net Banking or PNB One Mobile App.
- Navigate to Fixed Deposits and select Open New FD.
- Choose the 401-day tenure and enter the deposit amount.
- Select interest payout preference (Monthly/Quarterly/Cumulative).
- Confirm details and submit the request.
B. Offline Method (Branch Visit)
- Visit your nearest PNB branch.
- Fill out the Fixed Deposit application form.
- Provide KYC documents (Aadhaar, PAN, Address Proof, etc.).
- Deposit the amount via cash, cheque, or account transfer.
- Receive a Fixed Deposit Receipt (FDR) as proof of investment.
Comparison: PNB FD vs Other Banks
| Bank Name | Interest Rate (General Public) | Interest Rate (Senior Citizens) |
|---|---|---|
| Punjab National Bank (PNB) | 7.25% | 7.75% |
| State Bank of India (SBI) | 6.80% | 7.30% |
| HDFC Bank | 7.10% | 7.60% |
| ICICI Bank | 7.00% | 7.50% |
| Axis Bank | 6.90% | 7.40% |
PNB outperforms other banks in terms of interest rates for similar FD schemes, making it an attractive option.
see also: Post Office Offer Deposit money for just 2 years and get ₹2,32,044
Punjab National Bank’s 401-Day Fixed Deposit FAQs
1. Is the interest rate fixed for 401 days?
Yes, the interest rate remains unchanged throughout the tenure, ensuring predictable returns.
2. Can I withdraw my FD before 401 days?
Yes, premature withdrawals are allowed, but a penalty of 0.50% to 1% may apply.
3. What happens if I don’t withdraw my FD after 401 days?
Your FD will be auto-renewed at the prevailing interest rate, unless you specify otherwise.
4. Can I take a loan against my FD?
Yes, PNB allows loans of up to 90% of your FD amount.
5. Is this FD scheme available for NRIs?
Yes, Non-Resident Indians (NRIs) can also invest in this scheme under NRO FD accounts.
