PNB Sugam Fixed Deposit Scheme: Punjab National Bank has fixed the investment limit under its popular Sugam Fixed Deposit Scheme. Under this scheme, customers will no longer be able to deposit more than Rs 10 lakh. Let us tell that earlier there was a facility to deposit up to Rs 10 crore under this scheme.
PNB Sugam Fixed Deposit Scheme One of the largest public sector banks in the country, Punjab National Bank (Punjab National Bank) has made a big change in one of its schemes. Yes, PNB has fixed the investment limit in Sugam Fixed Deposit Scheme. According to the new rules, customers will now be able to deposit a maximum of Rs 10 lakh under this scheme. According to a report in Economic Times, the bank has said that existing customers who have deposited more than Rs 10 lakh under Sugam Fixed Deposit Scheme, on maturity, the amount above Rs 10 lakh will be renewed as a separate FD.
Tenure of Sugam Fixed Deposit Scheme
Let us inform that earlier there was a limit of depositing up to Rs 10 crore in PNB’s easy fixed deposit scheme. This scheme is more popular among customers because there is no penalty for withdrawing money before maturity. Customers can invest in the Sugam Fixed Deposit scheme for a minimum tenure of 46 days and a maximum of 120 months.
Who can open an account in the scheme
The Sugam Fixed Deposit Scheme offers the facility of opening a single account as well as a joint account. In addition, accounts can be opened for children of 10 years and above by submitting proof of age. Partnership firm, commercial organization, company or body corporate can also open an account in Sugam Fixed Deposit Scheme.
What is the minimum amount for opening an account
Under the Sugam Fixed Deposit Scheme, an account is opened for at least Rs 10,000. The special thing about this scheme is that the customer can withdraw any amount from the deposited amount according to his need before maturity. But you have to withdraw at least 1000 rupees. Suppose, you have deposited 10 lakh rupees in easy fixed deposit account and you need 50 thousand rupees, then you can withdraw 50 thousand rupees without breaking FD.
