Punjab & Maharashtra Co-operative Bank Fixed Deposit: Punjab & Maharashtra Co-operative Bank Fixed Deposit/Term Deposit Schemes, NRI/NRO/NRE Deposit Rates Punjab & Maharashtra Co-operative Bank , Bank Fixed Deposits/Term Deposit in India, NRI/NRO/NRE Interest Rates

Punjab & Maharashtra Co-operative Bank

Fixed Deposit Rates

You are requested to reconfirm the rates from the respective banks before making any financial commitments.

a) For domestic deposits - Less than Rs. 25 lakh (last revised on Jun 17, 2020)

Maturity Period	Deposit Amount	INTEREST RATE (% p.a.) General Senior Citizen

7 days to 14 days	Less than Rs. 25 lakh	3.00 3.00	Calculate
15 days to 45 days	Less than Rs. 25 lakh	3.00 3.00	Calculate
46 days to 180 days	Less than Rs. 25 lakh	3.50 4.00	Calculate
181 days to 1 years	Less than Rs. 25 lakh	4.50 5.00	Calculate
Above 1 year to 10 Year	Less than Rs. 25 lakh	4.75 5.25	Calculate

Tax Saver Fixed Deposits (Amount capped at Rs. 1 lakh per Financial Year)

Maturity Period	Deposit Amount	INTEREST RATE (% p.a.) General Senior Citizen

PMCB Kar-Mukt Yojna - Tax Saver	Upto Rs. 1 lakh	7.00 7.25	Calculate

Tax Implications:

The amount invested in fixed deposits with a maturity period of 5 years in a Scheduled bank is eligible for tax deduction under section 80C. However, the interest earned on the deposit is taxable.
Tax will be deducted at the source, if the interest income on a fixed deposit per annum exceeds Rs.10000

a) For NRO Fixed Deposit - Less than Rs. 25 lakh (last revised on Jun 17, 2020)