PNB Special Recurring Deposit Scheme – Eligibility, Documents, How to Apply

Punjab National Bank’s (PNB) recurring deposit account is one of the simplest investment schemes offering high returns on investment. PNB offers short term (6 months to 1 year), medium-term (1 to 5 years), and long-term (5 to 10 years) tenures. The customer having an RD account can assure his/her regular income as savings. After the maturity period, the principal amount is added to the same account.

Types of Recurring Deposit for PNB Customers


Punjab National Bank mainly offers two types of recurring deposit accounts, which can be used in India:

Regular Recurring Deposit: Generally it is the most common RD account available in PNB banks. Based on the choice of RD account, you have a designated tenure and a margin of the deposit amount. The deposit amount cannot be changed once if you choose the payable deposit amount during the tenure at the time of opening the RD account. If you fail to pay any deposit or pay fewer amounts than specified, penalties were added to the account.

Flexi Recurring Deposit: PNB Users can have the flexibility and convenience of choosing the deposit amount to their account for a month. Customers need to select the core amount, but it can be changed according to the fund’s availability. The interest rates of PNB Flexi Recurring Deposit Type might be less, but have the benefit of choosing the amount according to customers’ financial situation, throughout the maturity period.

Eligibility Criteria:

  • Individual/minor should have the age of above 10 years with proof of the name.
  • Minor below or equal to 10 years of age can apply under the natural guardianship/legal guardian
  • Any corporate, business, company, ownership or commercial, Government organizations are eligible
  • Illiterate or blind persons are also eligible to open a PNB RD account

Required Documents:

  • Proof of Identity: Ration card, Passport copy, Government ID card, PAN card, Aadhaar card, Certified Driving license, Senior citizen card, Voter ID
  • Proof of Residential Address: Passport Copy, Aadhar card, Utility bills, Mobile bill, PNB bank statement with a cheque.
  • Photos: Applicant’s Passport size photographs
  • Application Form: Duly signed and filled application form with complete personal details

Existing Features:

  • Minimum Deposit Amount:100
  • Maturity Period: 180 days to 10 years
  • Extra Interest Rate: For Senior Citizen – 0.50%
  • Maximum Interest Rates (1-3 years): For senior citizen – 7.25%; Regular Citizens – 6.75%
  • Loan Facility: Available
  • TDS: Depends on the income slab of the applicant’s category.
  • Nomination Facility: Available

How to Apply for a PNB Recurring Deposit Account?

Through Net banking

  1. Open PNB Net banking portal
  2. Log in to the online account using net banking username and password
  3. Open an e-RD option
  4. Enter details of the deposit amount, tenure, etc.,
  5. Upon completion, link your savings account to this RD account

If you are not a PNB account holder, visit the nearest branch and take the support of the bank officer to open an RD account.

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