PNB Special RD 2025

Features of PNB Special Recurring Deposit (RD)

Deposit Amount - Companies can start their PNB Special Recurring deposit accounts with a minimum deposit of Rs. 10 and can be increased in multiples of Rs. 1. The deposit amount has to be determined as per the PF deductions done for their employees.

Deposit Tenure - The PNB Special Recurring Deposit account can be opened with tenures ranging from 6 months to up to 120 months as per the requirement of the employer. If the employer wants to extend the tenure beyond that the old account will be closed and a new deposit account will be opened for the intended period with prevailing interest rates and according to RBI guidelines.

Nominations - The nomination facility will be extended as per Punjab National Bank guidelines.

Interest Payment - Interest paid for PNB Special Recurring Deposit accounts below Rs. 1 crore will be as per the CARD rate. For SF accounts, the interest will be credited to the customer's account on a half-yearly basis, during the months of March and September.

Premature Closure or Withdrawal - Premature withdrawals cannot be done for PNB Special Recurring Deposit accounts without getting permission from the employer.

Loans and Advances - Account holders might be sanctioned loans with prior sanction from the institution and as per L&A Circulars given by IRMD (Credit Policy Section).

Tax - Income tax is not deducted at source for PNB Special Recurring Deposit accounts.

RD Article Pages

1. Recurring Deposit Vs. Chit Fund
2. Miss to Pay the Recurring Deposit Due
3. Difference Between Recurring Deposit and SIP
4. Open RD Account through HDFC NetBanking
5. RD Account in SBI
6. Advantages of Recurring Deposit
7. Flexi RD
8. SBI Flexi RD Schemes
9. Monthly Recurring Deposit
10. City Union Bank Recurring Deposit
11. Indian Bank Recurring Deposit
12. Union Bank Recurring Deposit
13. UCO Bank Recurring Deposit

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FAQs on PNB Special Recurring Deposit

• What is the minimum amount required to invest in the PNB Special RD?

  The minimum amount required to invest in the PNB Special RD is Rs.100.

• How much is the minimum period for PNB Special RD?

  The minimum period for the PNB Special RD is six months. 

• Can I avail myself of a loan facility against PNB Special RD?

  Yes, you can avail yourself of a loan facility against PNB Special RD. 

• Can I avail myself of a nomination facility against PNB Special RD?

  Yes, you can avail yourself of a nomination facility against PNB Special RD. 

• Will I be charged a penalty for premature closure of the PNB Special RD?

  Yes, you will not be charged a penalty for premature closure of the PNB Special RD. 

• When will the interest earned on the RD be credited to my account?

  The interest earned on the RD will be credited on a half yearly basis in your account.

• What is the maximum tenure for the PNB Special RD?

  The maximum tenure for the PNB Special RD is 120 months. 

• Will I be charged a penalty for late deposit of the RD installment?

  Yes, you will not be charged a penalty for late deposit of the RD installment.

• Can I open the PNB Special RD account for a minor?

  Yes, you can open the Union Monthly Plus RD account for a minor under a parent or guardian. 

• What is the minimum age requirement of minors to open a PNB Special RD account?

  The minimum age requirement of minors to open a PNB Special RD account is 10 years. 

• Is TDS applicable on PNB Special RD?

  Yes, TDS is applicable on PNB special RD. 

• Can illiterate and blind people apply for PNB special RD?

  Yes, illiterate and blind people can apply for PNB special RD.