| TENURE | REGULAR RATES | SENIOR CITIZEN |
| 7 to 14 days | 3.50% | 4.00% |
| 15 to 29 days | 3.50% | 4.00% |
| 30 to 45 days | 3.50% | 4.00% |
| 46 to 90 days | 4.50% | 5.00% |
| 91 to 179 days | 4.50% | 5.00% |
| 180 to 270 days | 6.25% | 6.75% |
| 271 days to 299 days | 6.50% | 7.00% |
| 300 days | 7.05% | 7.55% |
| 301 days to less than 1 year | 6.50% | 7.00% |
| 1 year | 6.80% | 7.30% |
| Above 1 year to 399 days | 6.80% | 7.30% |
| 400 days | 7.25% | 7.75% |
| 401 days to 2 years | 6.80% | 7.30% |
| Above 2 years to 3 years | 7.00% | 7.50% |
| Above 3 years to 1203 days | 6.50% | 7.00% |
| 1204 days | 6.40% | 6.90% |
| 1205 days to 5 years | 6.50% | 7.00% |
| Above 5 years to 1894 days | 6.50% | 7.30% |
| 1895 days | 6.35% | 7.15% |
| 1896 days to 10 years | 6.50% | 7.30% |
PNB Tax Shield Fixed Deposit Scheme
The PNB Tax Shield Fixed Deposit Scheme offers you a tax-saving opportunity with assured returns. It combines the benefits of fixed deposits with tax benefits under Section 80C of the Income Tax Act, making it a popular choice for conservative investors seeking tax efficiency and stability in their investments.
Returns as high
as 7.1%*
Includes life cover
Completely Tax free+
as 7.1%*
Includes life cover
Completely Tax free+
Maximum returns Offered by
Guaranteed
Highest
7.1%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
Public Provident Fund
(other popular options)
(15 Years)
Get Guaranteed returns up to 7.1%*
Fully Tax-Free* (unlike FD), Life Cover Included
- Home
- FD Interest Rates
- PNB FD Interest Rates
- PNB Tax Shield Fixed Deposit Scheme
PNB FD Interest Rates for Domestic/NRO Term Deposits (Below Rs. 3 Crore) w.e.f. 10.06.2024
Comparison Between
Guaranteed Return Plans
Returns Before Tax
7.5% (TAX-FREE)
Returns After Tax
7.5%
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Still Better than FD’s and Debt Mutual Fund
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
People also read: PNB FD Interest Rates
PNB FD Interest Rates for Domestic/NRO Term Deposits (Rs. 3 Crore – 10 Crore) w.e.f. 10.06.2024
| Period | Revised Rates For General Citizen W.E.F. 10.06.2024 (%) |
| 7 days to 14 days | 6.00 |
| 15 days to 29 days | 6.00 |
| 30 days to 45 days | 6.00 |
| 46 days to 60 days | 6.40 |
| 61 days to 90 days | 6.60 |
| 91 to 179 days | 6.50 |
| 180 days to 270 Days | 6.65 |
| 271 days to 299 Days | 6.75 |
| 300 Days | 6.75 |
| 300 Days to < 1 Year | 6.75 |
| 1 Year | 7.25 |
| > 1 Year to 399 Days | 6.80 |
| 400 days | 6.80 |
| 401 days to 2 years | 6.80 |
| > 2 year to 3 years | 6.50 |
| > 3 year to 1203 days | 6.25 |
| 1204 days** | 6.15 |
| 1205 days to 5 years | 6.25 |
| > 5 years to 1894 days | 5.60 |
| 1895 days** | 5.45 |
| 1896 days to 10 years | 5.60 |
People also read: FD Interest Rates
Features of PNB Tax Shield Fixed Deposit Scheme
The key features of PNB Tax Shield Fixed Deposit Scheme are as follows:
-
Deposit Amount: Minimum Rs. 100/-, multiples thereof up to Rs. 1.50 lakh per financial year. Annexure-B required with Account Opening Form.
-
Period of Deposit: This investment option is available for a tenure of 5 years, with no auto-renewal.
-
Interest Options: Income Option (monthly/quarterly/half-yearly/yearly) or Maturity Option (compounded quarterly, payable at maturity).
-
Rate of Interest: Card Rate per IRMD guidelines. Additional 0.50% for senior citizens; 1% for staff members (subject to change).
-
Issue of Term Deposit Receipt: Includes name, address, PAN, and depositor's signature. Scheme name and PAN stamped on AOF.
-
Loan/Advance: Term deposit not lien/pledged. No advances under this tax-savings investment scheme.
-
Replacement of Lost Receipts: Apply for duplicate with account details. Indemnity bond/surety required, or without receipts Rs. 500 or less.
-
Premature Withdrawal: Not allowed before 5-year lock-in. Exemption for premature payment in case of depositor's death.
-
Payment to Legal Heirs: Paid to legal heirs without nomination, per rules.
-
Income Tax Deduction: Interest taxed under Income Tax Act, with TDS deduction per guidelines.
FD interest rates India have fallen consistently over the last 12 years.
People also read: Which Bank is Best for Fixed Deposit
Eligibility Criteria for PNB Tax Shield Fixed Deposit Scheme
-
Individuals, including those who are illiterate or blind, can open accounts individually or jointly.
-
Joint accounts can be held by two adults or an adult and a minor. The deposit can be claimed by either holder or the survivor. However, only the first holder can claim income tax deductions under section 80C.
-
Hindu Undivided Families (HUFs) are also eligible to open accounts.
PNB Interest Rates for Tax Saver Fixed Deposit Scheme w.e.f. 12.04.2024
| Rates For General Citizens (%) | Rates For Sr. Citizen (%) | |
| 5 Years | 6.50 | 7.00 |
| > 5 Years to 1894 days | 6.50 | 7.00 |
| 1895 days | 6.35 | 6.85 |
| 1895 days to 10 years | 6.50 | 7.00 |
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*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per
applicable tax slabs post 31st march 2023
#Discount offered by insurance company
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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