Punjab National Bank (PNB), the country’s second largest government bank, has introduced a special scheme for customers. The PNB UTTAM FD Scheme has been introduced for the bank customers amid decreasing interest rates. The special thing about this scheme is that in getting FD in it, customers are getting more. It is a non-depositable deposit scheme. Punjab National Bank has told about this scheme by tweeting.
PNB in its tweet said, amid falling interest rates, invest in PNB UTTAM FD scheme and get higher interest rate. The bank said, keep money in pocket is not an idea, invest in PNB Best Fixed Deposit Scheme for better tomorrow and get more interest.
In a falling interest rate regime, invest in PNB UTTAM FD Scheme and earn a higher rate of interest.
— Punjab National Bank (@pnbindia) March 29, 2021
PNB UTTAM FD Scheme is a non-stable deposit scheme. Once you invest in this scheme, you cannot withdraw your money before maturity. Except in the case of depositor’s death.
Who can invest in PNB Best FD?
Individual (single or joint), people above 10 years of age can invest in this scheme by giving their age certificate. Also, proprietorship / partnership firms, commercial organizations, company / corporate bodies, Hindu undivided families, associations, clubs, societies, trusts or religious / charitable or educational institutions, municipality or panchayats, government or semi-government bodies, illiterate and blind persons Can also open an account.
How much can you invest?
You have to invest at least 15 lakh rupees in the best FD scheme and after that you can deposit any amount in multiples of one rupee. The maturity period of this scheme ranges from 91 days to 120 months. At the same time, the income option is from 6 months to 120 months. Conversion option is not available under the scheme.
Will not get this facility
In this scheme, extension of period of premature withdrawal / part withdrawal / deposit is not allowed in any case except in case of death of depositor.
The option of demand loan / overdraft facility will be available as per the discretion of the bank and the existing guidelines. For deposits made in the maturity option, the value of the maturity of the deposit will be calculated on a quarterly compounding basis in the system.
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