PNB Recurring Deposit Scheme


  • Individual (singly or jointly) with others.
  • Minor who have attained the age of 10 years and above in his/her own name on giving proof of age.
  • Minors below the age of 10 years under guardianship of Natural/legal guardian.
  • Proprietorship/Partnership Firm, Commercial Organization, Company / Corporate Body
  • Hindu Undivided Family
  • Association, Club, Society, Trust or Religious/Charitable Educational Institutions,
  • Municipality or Panchayat, Government or Quasi-Government body.
  • Illiterate and blind persons can also open accounts.
  • Rs. 100/- in multiples thereof with a capping on maximum amount.

Terms & Conditions:

  • Period of RD - 6 months to 120 months in multiple of 1 months
  • Payment of RD will be due on maturity or one month after deposit of last installment, whichever is later. Irregular/Discontinued RD Account
  • Non-deposit of pending installments till maturity date, interest will be paid on daily products basis compounded half yearly.
  • Depositing of pending installments before the maturity date, penalty will be charged @ Rs.1.00 for Rs.100/- p.m.
  • Loan/ Overdraft against deposit is available. For detail, please refer to loan against term Deposit
  • Rate of interest would be Card rate as applicable to the tenor of deposit as displayed on website, subject to change from time to time.
  • Nomination facility is available.
  • TDS is applicable as per rules. The Bank will issue TDS Certificate for the tax deducted.