PNB Kalpnidhi (Recurring Deposit Scheme)

Features:

Eligible Customers – Individual (singly or jointly) with others/ Minors/ Hindu Undivided Family/ Proprietorship/ Partnership Firm/ Commercial Organization/ Company / Corporate Body/ Association/ Club/ Society/ Trust / Religious/ Charitable Educational Institutions/ Municipality/ Panchayat/ Government/ Quasi-Government body.
Fixed Monthly Installment – Minimum Rs.100 per month and thereafter in in multiples of Rs.1
Maximum Monthly Installment – Rs.25 lakh per customer per month
Flexible Tenures: Between 6 months to 120 months in multiple of 1 months.
Standing Instruction facility available for deposit of monthly installment.
Loan facility available against RD balance.
Premature withdrawal option available with 1% penal interest.
Nomination facility available.

Payment of RD will be due on maturity or one month after deposit of last installment, whichever is later.
TDS is applicable as per rules.
Delayed installments can be deposited before maturity, by paying a nominal penalty of Rs.1 per Rs.100 per month.
In case of pending installments at maturity, interest is applied on daily balances with half-yearly compounding.
Rate of interest would be card rate as applicable to all the tenors of deposit as displayed on website, subject to change from time to time.
Senior citizens of age 60 years and above to below 80 years shall get an additional rate of interest of 50 bps over applicable card rates for a period up to 5 years and 80bps for a period above 5 years on domestic deposits of less than Rs. 3 Crore.
Nomination facility is available.
Super Senior Citizens of age 80 years & above shall get an additional rate of interest of 80 bps over applicable card rate across all maturity buckets.