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PNB is giving 7.4% interest on this special savings scheme, you can invest with only 1 thousand rupees, know terms and conditions

Saving Schemes: Punjab National Bank (PNB) provides the option of investment to senior citizens through the scheme.
Especially retired people can take better advantage of this scheme. Let’s know everything about it…

New Delhi. The country’s second largest government bank, Punjab National Bank has come up with a special scheme for its senior citizen customers. Like other banks, PAB also gives the benefit of savings account scheme to its customers. There are also many schemes for senior citizens in PNB which are government backed and senior citizens can take advantage of it.

One of these schemes is PNB Senior Citizen Saving Scheme. The bank gives investment option to senior citizens through this scheme. Especially retired people can take better advantage of this scheme. So let’s know everything about it…

The most important of the many benefits of the scheme is the interest rate. That is, PNB pays a lot of interest on the savings of senior citizens. By taking advantage of this scheme, senior citizens can get big returns even with less money.

Rate of interest

Before every quarter, the government announces the interest rate for the Senior Citizens Savings Scheme. Punjab National Bank is currently giving an interest of 7.4 percent on the amount deposited in this scheme.

Know what are the terms and conditions of investment

>> The minimum amount that can be deposited in the scheme is Rs 1000, while the maximum deposit amount is Rs 15 lakh. Depositors can invest under this scheme in multiples of 1000.

>> The maturity period of the scheme is 5 years. Later it can be extended for another 3 years.

>> After maturity, the amount created in the joint savings account can be received only by the first person of the account.

>> The great convenience of the depositor in this scheme is that he can select more than one nominee.

>> The age of the depositor should be 60 years or more.

>> Any person who has taken VRS age is 55 years or more but less than 60 years, then they can also take advantage of this scheme.

>> This scheme provides special exemption for Defense Service Personnel. Such employees can deposit money in this scheme even at the age of 50 years or more.

>> AUF, NRI, PIO, people associated with Civil Personnel of Defense Services cannot deposit money in PNB Senior Citizen Scheme.

These documents will be required to open an account

To take this scheme scheme, passport, PAN etc. will have to be submitted for identity card. Telephone bill, Aadhaar card can be given for address proof. For age proof, you can give birth certificate, voter ID card. Two passport size photographs will be required to open the account.

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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