Why PNB Housing Finance is a Safer Option for Safe Returns?

FDs are typically viewed as sensible savings tools, as they carry minimal risks. Among the safer options that offer some of the best returns is the PNB Housing Finance FD. This fixed deposit is offered by the well-established housing finance company in India, promoted by the Punjab National Bank.

The PNB Housing Finance FD is a secure savings vehicle if you are looking for safe returns and stability. With an attractive interest rate going up to 7.80%, it is an ideal choice as an alternative to the volatility of the stock markets.

The FD also offers flexibility in terms of tenor options, allowing you to invest anywhere between 1 and 10 years. To know more about the PNB Housing Finance FD as well as 1-year FD interest rates you can get, read on.

Offers Superior Payouts Thanks to High FD Rates

PNB Housing Finance FDs offer higher interest rates as compared to bank FDs, offering non-seniors up to 7.55% and seniors up to 7.80% interest p.a. This ensures that you can get a competitive payout.

 

Disclaimer: These rates are subject to change as per the issuer’s policies.

 

Senior citizen investors get a 0.25% interest rate benefit on the PNB Housing Finance FD. Here’s a look at the FD rates for seniors:

Tenor (in months)	Interest Rate for cumulative FDs
12-23 months	7.25%
24-35 months	7.05%
36-47 months	7.80%
48-120 months	7.65%

Disclaimer: These rates are subject to change as per the issuer’s policies.

Provides Flexibility

The PNB Housing Finance FD provides flexibility in a range of ways. Firstly, you can invest in it with a minimum amount of just ₹10,000. This ensures you don’t waste time accumulating savings for your future financial wellbeing.

Secondly, you can choose the tenor based on your needs from 12 months to 120 months. Simply check the corresponding FD interest rates for your preferred tenor before you invest. This way you can match the maturity of your FD with your goal of, say purchasing a vehicle, renovating your home or financing a wedding.

For instance, say you have a goal that requires finances in 1 year. For PNB Housing Finance’s 1-year FD interest rates, take a look below: 

 

 

 

 

 

 

 

 

 

 

 

 

 

1-year FD interest rates for cumulative FDs	Customer profile
7.25%	Senior citizens
7.00%	Non-senior citizens

Disclaimer: These rates are subject to change as per the issuer’s policies.

Thirdly, when you invest in a PNB Housing Finance FD you can also decide when to receive your interest earnings. If you do so when the tenor ends, you get higher FD interest rates. However, if you need to access payouts at regular intervals for recurring expenses, you can select these too.

Choose from monthly, quarterly, half-yearly or annual options based on your requirements for finance. Keep in mind that you will need to invest a minimum of ₹25,000 if you are looking at receiving your interest payout every month.

Here are the 1-year FD interest rates based on non-cumulative payouts.

1-year FD interest rates for non-cumulative FDs	Payout timeline
6.78%	Monthly
6.82%	Quarterly
6.88%	Half yearly

Disclaimer: These rates are subject to change as per the issuer’s policies.

Comes With Good Safety Ratings

You can rely on the PNB Housing Finance FD as it has received a rating of AA/Stable by CARE and FAA+ by CRISIL. Both these ratings point to a high degree of safety. Thus, you can invest in this fixed deposit stress-free and easily achieve your objectives.

Simplifies Investing with Digital Provisions and Other Benefits

With digital features, investing in a PNB Housing Finance FD is effortless. You can book your FD online thanks to a paperless account setup. You can also make the payment for the FD by choosing between a cheque, demand draft, RTGS or NEFT.

Monitoring your FD is also easy, as you can make use of the nomination and auto-renewal facilities online. What’s more, you can cancel your FD prematurely, 3 months after you start it, if you need access to funds in an emergency.

You can also get a loan of up to 75% of your FD amount from PNB Housing Finance and do not have to worry about TDS (tax deducted as source) if your income from interest is up to ₹5000 in a financial year.

With all these benefits at your disposal, the PNB Housing Finance FD makes for an ideal choice. Simply use the FD calculator to estimate your - returns you will earn based on the amount invested, the tenor and the FD interest rate. Parking your funds in a reliable instrument from the comfort of your home has never been simpler, so get started now! 

 

 

 

 

 

(Above mentioned article is consumer connect initiative. This article is a paid publication and does not have journalistic/editorial involvement of IDPL, and IDPL claims no responsibility whatsoever)