PNB Recurring Deposit Interest Rates 2026

The Punjab National Bank (PNB) offers RD scheme to customers as product to build your savings on a regular basis. The Recurring deposit of PNB offers total repayable amount, inclusive of interest that depends on the deposit amount and the tenure.

A recurring deposit is an investment cum savings option for those who want to save regularly over a certain period of time and earn a higher interest rate. It is a type of term deposit which allows one to save a fixed amount of money every month systematically. If you are familiar with SIP in Mutual Funds, RD works similarly in banking. Every month, a fixed amount of money is deducted either from a savings or a current account. And, at the end of the maturity, investors are paid back their invested money with accrued interest.

A user willing to open an Recurring Deposit account with the Punjab National Bank can choose any amount and term according to your convenience.

PNB RD Interest Rates 2026

Here're the interest rate offered by the PNB on RD accounts to regular citizens.

The FD Interest Rates are subject to frequent change.

PNB RD Interest Rates for Senior Citizens

Following interest rate offered by the PNB on RD accounts to senior citizens.

The FD Interest Rates are subject to frequent change.

PNB RD Calculator

A Recurring Deposit calculator is a good way of calculating maturity amount on RD. You can follow this method to estimate your RD amount on maturity.

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PNB Recurring Deposit Scheme (E-RD)

Some of the features of PNB E-RD scheme are:

• E-RD scheme is applicable to the Internet Banking users only
• This scheme is for existing customer having operative Saving or Current Account
• E-RD scheme will be issued to only those wherein the valid PAN document is held in the funded account
• Proceeds on maturity shall be credited in the account through which the term deposit was funded
• One closure or pre-mature of the E-RD scheme, one needs to visit the parent branch
• The nomination facility is available
• Tax Deducted at Source (TDS) is applicable as per rules. The Bank will issue TDS Certificate for the tax deducted

Tax on PNB Recurring Deposit Scheme

• In case the interest earned by users across all their RD accounts across all PNB branches in a year exceeds INR 10,000, the bank must deduct TDS at 10.3 percent

• If a user's IT PAN is not updated in the Punjab National Bank records, it must deduct twice the TDS at 20.6 percent. So, an individual should update his/her PAN on the RD account

• Individuals are required to add the interest income on all their PNB RD’s and other RD’s to their taxable income for the year. Based upon their tax bracket, income tax is payable on their income. Users must estimate the interest income and all their other incomes based on which, one is required to pay Advance Tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March)

• Punjab National Bank also issues a Form 16A giving details of tax deducted on Recurring Deposit interest and tax deposited by it with government treasury. The TDS amount deposited by the PNB with Income Tax Department can be verified in individuals 26AS statement. This statement is available online on IT department website or through your net banking account. Once can claim credit for the TDS amount in their annual Income Tax Return

Documents Required to Open PNB RD Account

To open a recurring bank account with PNB Bank, you need to submit any one of the documents from both the category-

A. Proof of identity

• Passport
• PAN Card
• Voter ID card
• Driving License
• Government ID card
• Photo ration card
• Senior citizen ID card

B. Address Proof

• Passport
• Telephone bill
• Electricity bill
• bank statement with cheque
• Certificate /ID card issued by the Post Office.

Why Investing in SIP is Beneficial?

• Systematic Investment plan (SIP) is a way to put your money in mutual funds. Investment can be done on a periodic basis - daily, weekly, monthly or quarterly

• You need to deposit a small amount of money at every interval. The minimum amount can be as low as INR 500

• SIPs can help in all kinds of investment goals, whether short- or long –term, depending on the frequency of investment, funds chosen and other factors

• SIPs offer flexible instalment plans of daily, weekly, monthly, quarterly etc

• Returns can be earned better here. The longer you invest via a SIP in mutual funds, especially in an Equity Fund, the higher are the chances to earn good returns

• To Cancel SIP, the investors can simply close their investment and withdraw their money without any penal charges

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