PNB Sugam Term Deposit Scheme

Brief features of the product:

  • 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
  • Minimum Deposit of Rs.10000/- thereafter in multiples of Rs. 1/- Maximum. Rs.10.00 Crore.

Terms & Conditions:

  • Period of FDR - Minimum 46 days to Maximum 120 months even for incomplete quarters.
  • Part Withdrawal of any amount , in multiple of Rs.1/- subject to minimum amount of Rs. 1000/- permitted without breaking the entire deposit and without losing interest on remaining deposit.
  • No penalty on premature part/full withdrawal. However, interest rate payable would be contractual rate or the rate under the scheme on the contractual date applicable for the tenor for which the deposit has run, whichever is lower.
  • Interest on deposits is payable either monthly at discounted value or quarterly or compounded quarterly (i.e., reinvestment of interest) or on the date of maturity at the option of the depositor as applicable under particular deposit scheme.
  • Rate of interest would be Card rate (LINK) 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 (Link TDS) The Bank will issue TDS Certificate for the tax deducted.
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