PNB Varshik Aay Yojana (VAY) Deposit Scheme

Brief features of the product

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.10, 000/- and in multiples of Rs. 1000 there of upto Rs. 1, 99, 99,000/-
Period of Deposit Deposit will be accepted for 24, 36, 48, 60, 72, 84, 96, 108 & 120 months only at the option of the depositor
Interest Card Rate as per guidelines issued by HO: IRMD, (ALM Cell) from time to time. Interest shall be paid at simple rate either at the time of maturity or at quarterly intervals, as the case applicable.
Demand Loan/Overdraft Facility Deposits for Rs.10, 000/- and above on written request shall be eligible for Demand Loan/overdraft facility. The depositors in need of overdraft facility, the same shall be permitted to avail the facility through an Overdraft Account and a Cheque Book will be issued to the depositor on the same day. However, the actual drawings from the overdraft account will be allowed from the account on the subsequent day in case an Term deposit has been issued on the date on which the OD facility is sought.
Other terms & conditions issued by HO: Integrated Risk Management Division L&A Circulars, from time to time.
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

  • Rewarded


    Earn reward points on transactions made at POS and e-commerce outlets

  • Book your locker

    Book your locker

    Deposit lockers are available to keep your valuables in a stringent and safe environment

  • Financial Advice?

    Financial Advice?

    Connect to our financial advisors to seek assistance and meet set financial goals.

  • ATM & Branch Network

    ATM & Branch Network

    Find PNB Branches and ATMs in proximity to your location.

back to top