PNB Varshik Aay Yojana (VAY) 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. 1000/- max Rs. 99.99 lac Min 24 months & in multiples of 12 months with max period of 120 months.

Terms & Conditions:

  • Period of Deposit: The deposit will be accepted for 24, 36, 48, 60, 72, 84, 96, 108 & 120 months only at the option of the depositor.
  • Annual interest payment. On quarterly compound basis.>
  • 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.

  • 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.

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