PNB Swechha Jama Yojna and Flexi RD Scheme 2025
Punjab National Bank offers a deposit scheme that allows customers to save money with great flexibility on the deposit amount. Customers can choose a core deposit amount which is subject to a minimum of Rs. 100.
Recurring Deposit amounts can then be increased in the subsequent months up to 10 times the core amount. There is no ceiling limit on the maximum deposit amount. This allows depositors to save more money through this scheme when they receive extra funds.
PNB Swechha Jama Yojna Interest Rates
Interest rates granted on the Swechha Jama Yojana Deposit is the same as applicable on term deposits. Senior Citizens are entitled to an additional rate of 0.50% above the regular interest rates for deposits of less than Rs. 1 crore. Staff members and retired staff will get 1.00% additional interest.
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens | Rate of Interest for Super Senior Citizens |
180 to 270 days | 6.00% | 6.50% | 6.80% |
271 days to 302 days | 6.25% | 6.75% | 7.05% |
303 days | 6.15% | 6.65% | 6.95% |
304 days to less than one year | 6.25% | 6.75% | 7.05% |
One year | 6.70% | 7.20% | 7.50% |
More than one year to 389 days | 6.80% | 7.30% | 7.60% |
390 days | 7.00% | 7.50% | 7.80% |
391 days to 505 days | 6.80% | 7.30% | 7.60% |
506 days | 6.70% | 7.20% | 7.50% |
507 days to 2 years | 6.80% | 7.30% | 7.60% |
More than 2 years to 3 years | 6.75% | 7.25% | 7.55% |
More than 3 years to 1203 days | 6.25% | 6.75% | 7.05% |
1204 days | 6.15% | 6.65% | 6.95% |
1205 days to 5 years | 6.25% | 6.75% | 7.05% |
More than 5 years to 1894 days | 6.00% | 6.80% | 6.80% |
1895 days | 5.85% | 6.65% | 6.65% |
1896 days to 10 years | 6.00% | 6.80% | 6.80% |
Note: The interest rates are with effect from 14 May 2025 and are subject to change at the bank’s discretion.
PNB Swechha Jama Yojna Eligibility
- Individuals can apply, singly or jointly.
- Firms, associations, clubs, educational institutions, trusts, Co-operative societies, Municipal Corporations, Panchayat, Government and quasi-Government bodies, religious and charitable institutions, HUFs and Corporates are eligible to apply.
- Minors are eligible to apply.
- Minors below the age of 10 can open an account under the guardianship of the legal or natural guardian.
- Minors who are 10 years and above can open an account in their own name. Proof of age is required.
PNB Swechha Jama Yojna Documents Required
- Two recent photographs
- PAN or General Index Register (GIR) number.
- Alternative documents that can be submitted are Form 60 or 61 as per the Income Tax Act.
- Bank needs satisfactory identification of the person opening the account.
Features and Benefits
Deposit Limits - The deposit can be opened with a minimum of Rs.100, and in multiples of 100 thereof. This will become your core amount. You can then deposit up to 10 times of your core amount in any of the subsequent monthly instalments.
Tenure - The minimum tenure is 6 months. This Flexi Deposit Scheme can be opened for a maximum of 120 months.
Premature Withdrawal - PNB allows premature withdrawal of the Swechha Jama Yojna Scheme.
No penalties - In case you miss the payment in a month, or your payment is late, PNB does not levy any penalty charges.
No TDS - There is no tax deducted at source on this deposit. Interest earned on this deposit is exempt from income tax as specified by the income tax authorities.
Loan Facility - Loan and overdrafts are allowed against the Flexi Deposit.
Interest rates - Interest rates as applicable on term deposits will be paid. The interest is compounded on a half-yearly basis.
RD Article Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Co-operative Bank Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
FAQs on PNB Swechha Jama Yojna/Flexi RD Scheme
- How is interest calculated on this RD scheme?
Interest is compounded on a half-yearly basis at the interest rate applicable to term deposits.
- What is the maximum deposit amount?
There is no stipulated maximum deposit amount on the Swechha Jama Yojna Scheme. The maximum amount will depend on your chosen core amount. If you have chosen Rs. 100 as your core amount, then you can deposit only up to a maximum of Rs. 1,000 for any monthly instalments.
- Is there any penalty for late payment of monthly instalments?
No, Punjab National Bank does not levy any penalty charges for missed or late payments
- Can I offer my deposit as security for a loan?
A loan and overdraft facility against this deposit is available from Punjab National Bank.
- Can I close this deposit before maturity date?
Yes, you are allowed to close the deposit before maturity
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