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Punjab National Bank - Fixed Deposit Terms & Conditions
A Fixed Deposit account through this process can be opened only by resident individuals aged 18 years or above. Joint FD accounts are not permitted.
A valid PAN is mandatory for opening an FD through the DIY journey.
Payment Gateway charges, if any, shall be borne by the customer.
If the customer opens an operative account during the FD tenure, the maturity proceeds will be credited to that account maintained with Punjab National Bank.
An FD cannot be closed if a lien is marked against it. The system will automatically validate lien status when a premature closure request is made.
The Bank shall freeze customer accounts upon receiving orders from enforcement authorities. At the time of maturity, the depositor must submit a request letter for renewal. If no option is exercised, the Bank will automatically renew the deposit for a term equal to the original term.
The FD may be transferred to another branch upon submission of a written request at the home branch, subject to Bank guidelines.
In case of NEFT/RTGS transfer failure because the repayment account is closed or frozen, the unclaimed FD amount shall not earn interest at the Savings Bank rate or the contracted FD rate during the unclaimed period.
Unclaimed FD proceeds can only be collected from the home branch.
All other guidelines relating to Term Deposits shall apply as per the Bank's existing policies and amendments issued from time to time.
The Fixed Deposit account shall be opened on the date the payment is successfully received. The applicable Rate of Interest (ROI) shall be the rate prevailing on that date.
By availing the Punjab National Bank Fixed Deposit product, the customer consents to the collection, processing and use of personal and financial information for servicing the Fixed Deposit account and for receiving information regarding other products and services offered by the Bank.
On closure of the Fixed Deposit account, applicable TDS, penalties (if any), and other charges shall be deducted as per the Bank's prevailing guidelines.
For details regarding Fixed Deposits and applicable Rate of Interest, please visit:
