PNB Sugam Fixed Deposit Scheme

PNB sugam fixed deposit schemePNB Sugam Fixed Deposit Scheme provides flexibility among existing Fixed Deposit Schemes of PNB. The depositor can withdraw in multiples of Rs. 1,000 at any time before maturity without canceling the original deposit receipt and earn Interest on the remaining amount at the contracted rate. Account can be opened with a minimum deposit of Rs. 10,000 or above, in multiples of Rs. 1000 for any period from 46 days to 120 months. The depositor has the option to draw interest on monthly or quarterly or half yearly or yearly basis or on maturity.

Brief features of the product:

  • Minimum Deposit of Rs.10000/- thereafter in multiples of Rs. 1000/-
  • Maximum Deposit of Rs.10.00 Crore.
  • Period of Deposit: Minimum 46 days to Maximum 120 months even for incomplete quarters.
  • Part Withdrawal of Rs. 1000/- permitted without breaking the entire deposit and without losing interest on remaining deposit.
  • No penalty on premature part/full withdrawal.
  • Deposits are auto renewed by Bank on due dates & continued to be renewed if no instructions are given in the contrary.
  • Interest on deposits is payable either monthly at discounted value or quarterly or compounded quarterly (i.e., reinvestment of interest) or on the date of maturity at the option of the depositor as applicable under particular deposit scheme.

Interest Rates for PNB Fixed Deposits:

Period Below Rs 1 Crore Rs. 1 – 10 Crore
7 to 14 days 4.00% 4.00%
15 to 45 days 4.50% 4.50%
46 to 60 Days 5.50% 7.50%
61 to 90 Days 5.50% 7.50%
91 to 179 days 7.00% 8.25%
180 days to 270 Days 8.00% 8.50%
271 days to less than 1 year 8.00% 9.00%
1 year 9.25% 9.50%
More than 1 year to 554 Days 9.25% 9.25%
555 Days 9.30% 9.30%
556 Days to < 2 yrs 9.25% 9.25%
2 years to 1110 days 9.25% 9.25%
1111 Days 9.50% 9.50%
1112 Days to less than 5 Years 9.25% 9.25%


Who can open PNB Sugam Fixed Deposit Account?

  • 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.


  • Presently, if the total interest on deposits, per depositor, per branch, per financial year exceeds Rs 10,000/-, the same is subject to Tax Deduction at Source (TDS) at the rates stipulated by the Income Tax Authorities.
  • The depositor may furnish declaration in Form No.15 H/15G preferably at the commencement of the Financial Year for receiving interest on deposits without deduction of tax.
  • The Bank will issue TDS Certificate for the tax deducted.

Should you go for PNB Sugam Fixed Deposit Scheme?

PNB Sugam Fixed Deposit Scheme a good product as it does not levy any penalty for pre-mature withdrawal of fixed deposits, where other banks generally deduct 1% interest for pre-mature withdrawal. You can also look at the auto sweep in savings accounts from other banks where money in you saving account is automatically transferred to  fixed deposits earning higher interest and providing same liquidity as savings account.

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