A Fixed Deposit (FD) is an investment that is the safest and earns a higher rate of interest in comparison to other investment schemes. It is a term deposit where you invest your funds for a fixed time at a pre-determined interest rate.
Many banks and NBFCs offer fixed deposit accounts at competitive interest rates for varying tenures. PNB Housing Finance offers many different fixed deposit options to the customers to invest their savings. Fixed deposits (FD) of PNB Housing Finance provide a higher interest rate as compared to other schemes of deposits.
Benefits of Opening an FD Account in PNB Housing Finance:
PNB Housing, a prominent and leading NBFC, offers a plethora of benefits to the customers. Some of these are:
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PNB Housing finance is rated AA+ by CARE and FAAA- by CRISIL
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The interest amount upto Rs. 5,000 is eligible for tax exemption
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PNB Housing finance allows premature cancellation after three months
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PNB Housing Finance offers higher rates than FD accounts in other financial institutions and a special add-on to senior citizens
Types of Fixed Deposit on offer by PNB Housing finance:
The company offers:
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Cumulative deposit: This is where the interest amount is credited to the fixed deposit account and not withdrawn. It becomes the principal amount for the next year, and the total interest is payable at maturity.
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Non-cumulative deposit: This is where the interest is paid to the investor either monthly, quarterly, or annually. The frequency of the payment can be monthly, quarterly, half-yearly, or annually.
Fixed Deposits Interest Rate
The rate of interest applicable to fixed deposits determines the return that you earn on your investment. Several factors affect the interest rates applicable to a fixed deposit account. These are the type of FD scheme, the tenure of the fixed deposit investment, and the mode of interest pay-out.
PNB Housing Finance Fixed Deposit Rates
You must compare fixed deposits of different banks and NBFCs on tenure wise FD interest rates. PNB Housing Finance offers the highest interest rates for FDs with a tenure of 60 to 84 months. The FD rate of interest, in this case, is 8.15%
PNB Housing Finance also offers good returns on FD for deposits with a tenure of 5 to 10 years. These rates are 8.00% for general customers and 8.25% to 8.40% for senior citizens.
PNB Housing Finance FD interest rates effective from January 6, 2020, for individuals and trust deposits:
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Regular deposit upto Rs. 5 crore |
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Period |
Monthly (p.a.) |
Quarterly (p.a) |
Half Yearly (p.a.) |
Yearly |
Interest (p.a.) |
Useful Yield# (p.a.) |
|
12 – 23 |
7.70% |
7.75% |
7.85% |
8.00% |
8.00% |
8.00% |
|
24 – 35 |
7.70% |
7.75% |
7.85% |
8.00% |
8.00% |
8.32% |
|
36-47 |
7.80% |
7.85% |
7.95% |
8.10% |
8.10% |
8.77% |
|
48-59 |
7.80% |
7.85% |
7.95% |
8.10% |
8.10% |
9.14% |
|
60-71 |
7.85% |
7.90% |
8.00% |
8.15% |
8.15% |
9.59% |
|
72-84 |
7.85% |
7.90% |
8.00% |
8.15% |
8.15% |
10.00% |
|
120 |
7.70% |
7.75% |
7.85% |
8.00% |
8.00% |
11.59% |
|
Min. amt. |
100,000 |
50,000 |
20,000 |
20,000 |
20,000 |
|
PNB Housing Finance is an NBFC offering best fixed deposit interest rates in the current investment sector.
