PNB Housing

Deposit Schemes

Cumulative Deposit

The interest earned is credited to the fixed deposit annually, and is paid out at the time of maturity along with the principal. It helps you build a corpus as the interest gets compounded annually. We accept a minimum deposit of ₹10,000 for cumulative deposits.

Non-cumulative Deposit

The interest earned is paid out to the depositor at an agreed-upon frequency. The frequency of the payment can be monthly, quarterly, half-yearly or annual. The regular interest payments can be used to meet your daily expenses. PNB Housing accept a minimum deposit of₹ 25,000 for monthly income schemes.

For all other schemes, a minimum deposit of ₹ 10,000 is applicable.

PNB Housing

Joint Fixed Deposit

You can open a joint fixed deposit account with a maximum of three joint holders.
The interest for non-cumulative deposits will be paid to the first named applicant, and the discharge given by them will be binding on the joint holders. In case of cumulative deposits, the interest is deemed to be accrued in the name of first applicant.
The repayment at maturity would be done as per the instructions provided in the FD application form.

Fixed Deposit for

Non-Resident Indians (NRIs)

A maximum tenure of three years is available for NRI fixed deposits.
Repayment of the amount and payment of any interest earned will be done through a credit to the depositor’s NRO account.
As per the RBI regulations, PNB Housing accept fixed deposits from NRIs and Persons of Indian Origin on a non-repatriation basis i.e. the interest earned and the principal cannot be transferred back to the country of residence or converted to foreign currency.
Tax will be deducted at source, as applicable.

PNB Housing

Corporate Deposit

PNB Housing offers a Corporate Deposit scheme for Body Corporates, Private/Public Limited Companies, Corporations, Statutory Board, Local Authorities, and other Banks & Financial Institutions.

The key features of our corporate deposit are:

A minimum deposit of Rs 10,000 with no maximum limit
You can make a deposit in the form of an account payee cheque drawn in the favour of PNB Housing Finance Limited.
Interest will accrue from the date of receipt of fund.
Interest on non-cumulative fixed deposits will be paid according to the below schedule:

Scheme	Interest Payment Date
Monthly Income Plan	Last day of Each Month
Quarterly Income Plan	June 30th, September 30th, December 31st, and March 31st.
Half Yearly Plan	September 30th and March 31st
Annual Plan	March 31st

If the first interest due date falls within a week from the deposit date, then the interest for the first broken period will be paid in the next interest cycle. If any of the above dates fall on a Sunday or a holiday, the interest will be paid on the next working day.

Interest on cumulative deposits will be compounded annually on March 31st after deducting any applicable tax.
For premature withdrawal, closure request should be raised at least 7 days in advance.