INVC,,
Delhi,,
On the occasion of Children’s Day PNB launches PNB Bal Vikas Deposit Scheme exclusively for children. The scheme has the unique feature of combination of Recurring Deposit and income option Fixed Deposit scheme. The objective of the scheme is to provide regular income to meet the future expenses for his/her studies etc. The salient features of the Scheme are as under:
- Minimum monthly deposit of Rs. 1000/- or multiples of Rs. 500/- for first 5 years under RD component.
- The period of deposit is for 5 years under RD and thereafter for another 5 years under FD (income option – Monthly/Quarterly as per mandate of the depositor). The total period of the scheme shall be 10 years.
- Deposit under the PNB BAL VIKAS Deposit Scheme shall carry interest at the rates linked to CARD rate (quarterly compounded) presently 8% p.a, as applicable for 10 years deposit.
