PNB launches two new deposit schemes: PNB DUGANA & PNB LAKHPATI

INVC,,

Delhi,,

PNB DUGANA deposit scheme offers “double your money in 109 months” and PNB LAKHPATI deposit scheme envisages inculcating the habit of regular monthly saving to become “Lakhpati”.

Under PNB DUGANA deposit scheme, the minimum & maximum amount of deposit is Rs. 5000/- & Rs. 1 crore per day per customer for 109 months. The rate of interest offered is 7.75% (compounded quarterly).

PNB LAKHPATI deposit (first option) scheme offers deposit of monthly installment of Rs.1000/- for a period of 78 months to get a return of Rs. 100584/- (Rate of interest 7.50% for general category of customers).

PNB LAKHPATI deposit (second option) scheme offers deposit of monthly installment of Rs.1500/- for a period of 57 months to get a return of Rs. 102207/- (Rate of interest 7.25% for general category of customers).

PNB LAKHPATI deposit (third option) scheme offers a scheme for 120 months. The periodicity of deposit of RD instalments will range from 24 to 60 months and thereafter the RD proceeds would be crystallized and reinvested in FD scheme for a period of 96 to 60 months.

In the above schemes Senior Citizens will be offered 0.50% additional rate of interest

Loan/overdraft facility is available on applicable terms & conditions against deposits held by the account holder.

In line with our peers, PNB has realigned the rate of interest on Retail Domestic Term Deposits with an increase of 25 bps w.e.f. 01.09.2010 in selected maturities. The peak rate of the bank has increased from 7.50% to 7.75%.