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PNB Special Term Deposit Scheme

Brief features of the product:

PARAMETERS FEATURES*
Eligibility Individual (singly or jointly) with others
  Minor who have attained the age of 10 years and above in his own name on giving proof of age
  Proprietorship/Partnership Firm, Commercial Organization, Company /Corporate Body
  Hindu Undivided Family
  Association, Club, Society, Trust or Religious/Charitable or Educational Institutions
  Municipality or Panchayat, Government or Quasi-Government Body
  Illiterate and blind persons can also open the account.
Deposit Amount Minimum deposit of Rs.100/- and thereafter in multiples of Rupee one (Re.1/-) with maximum amount of Rs.1, 99, 99,999/-.
Period of Deposit From 1 year to 10 years, even for incomplete quarters.
Interest Card Rate as per guidelines issued by HO: IRMD, ALM Cell from time to time.
  Interest shall be payable quarterly at simple rate or monthly at discounted rate at the option of the depositor.
  No charges are to be levied on transfer of the interest amount to other branches, for credit to customer’s deposit account or loan account. On the request of the depositor having number of Special Term Deposits, issued on different dates, for different periods, bank may pay interest on all these deposits on a particular date of the quarter.
Demand Loan/Overdraft facility Deposits for Rs.10, 000/- and above on written request shall be eligible for Demand Loan/Overdraft facility.
  The option/facility of ‘overdraft’ shall not be available in the account opened in the name of illiterate or a blind person.

* Other terms and conditions as per general guidelines

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