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Punjab National Bank deposit query...
marathon_man_3
Posts: 185 Forumite
I have never placed anything with this bank but have noticed that their "Festival Season Fixed Deposit Scheme" is paying 3.35% for a year (with a £10k minimum placement).
The webpage http://www.pnbint.com/fixed-deposits.asp states : Deposit(t) can be permitted to be withdrawn at discretion of the Bank. There is no penalty for such withdrawal, but interest allowed would be at rate specified for the actual run period, applicable at the time of opening of Deposit.
What's the catch? Is this a normal fixed term deposit and, if so, why isn't it in the best buy tables?
The webpage http://www.pnbint.com/fixed-deposits.asp states : Deposit(t) can be permitted to be withdrawn at discretion of the Bank. There is no penalty for such withdrawal, but interest allowed would be at rate specified for the actual run period, applicable at the time of opening of Deposit.
What's the catch? Is this a normal fixed term deposit and, if so, why isn't it in the best buy tables?
0
Comments
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No idea why it is not in the best buy tables.
Previous discussion with some useful info in it (inc. closing date + no partial withdrawals and how to get round it) here:
https://forums.moneysavingexpert.com/discussion/42678030
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