Fixed deposits can help balance out investment portfolios that contain high-risk vehicles and inject assured returns into the mix. They are also a smart choice for risk-averse investors and senior citizens who prize stability.
Recently increased FD rates make it even more attractive as a long-term investment instrument. Among the many FDs available in the market, the PNB Housing Finance Fixed Deposit stands out.
A key reason for this is that PNB Housing Finance FD rates go up to 7.55% per annum. What’s more, senior citizens get an additional 0.25% interest. With these PNB Housing Finance FD rates, you can grow your wealth easily.
Read on to learn more about how PNB Housing Finance FD rates result in high returns, and how its other features make it an ideal investment option.
Competitive FD rates
FD rates have a significant and direct impact on your returns. Booking a fixed deposit with high FD rates means you’ll earn more while signing up for one with low FD rates results in lower returns. With the current PNB Housing Finance FD rates, you can earn substantial returns to grow your corpus hassle-free.
Say that you invest ₹1 Lakh in PNB Housing Finance Fixed Deposit for 5 years. Here are your interest and total earnings as a senior and non-senior investor.
|PNB Housing Finance FD rates||Total interest earnings||Maturity amount for a senior citizen|
|7.55% (non-senior)||43,897.10 (non-senior)||1,43,897.10 (senior)|
|7.80% (senior)||45,577.33 (non-senior)||1,45,577.33 (senior)|
Multiple payout options
Whether you need to access your earnings at regular intervals or when your FD matures, choose your payout mode as per your needs with PNB Housing Finance. Having multiple options gives you the flexibility and liquidity you need.
By choosing a cumulative FD, you enjoy higher PNB Housing Finance FD rates but can get the money only at the end of your chosen tenor. In contrast, when you select a non-cumulative FD, you can receive your returns on a monthly, quarterly, half-yearly, or yearly basis as per your choice.
While the interest you earn in this case is slightly lower, it can be a convenient way to address recurring expenses. It is also the most popular option for retirees who depend on these returns for daily life.
Good credit ratings
While you can use an FD interest calculator to correctly forecast your earnings, how can you rest assured about getting them from the issuer? Safety ratings assigned by agencies like CRISIL and CARE help in this regard.
High ratings mean that you can rely on the issuer to give you your initial investment and earnings without fail and on time. The PNB Housing Finance Fixed Deposit has been awarded AA/Stable by CARE and FAA+/Negative by CRISIL, making it a safe option.
With PNB Housing Finance, you can invest for a period that works best for you. Generally, a lengthy tenor means that you get better FD rates and earnings as your interest is compounded for a longer period.
However, you can maximise your returns by also choosing a special tenor that comes with a higher FD interest rate. For example, the PNB Housing Finance FD rates for senior citizens for a tenor of 36-47 months is 7.80% as compared to 7.65% for 120 months.
Starting an FD requires some amount of savings as your investment is locked in during the tenor and you cannot make additions to the corpus. With a lower minimum deposit, you can book an FD without waiting too long.
PNB Housing Finance allows you to start an FD with just ₹10,000 for cumulative payouts and Rs.25,000 for monthly payouts. This way, you can enjoy high returns thanks to PNB Housing Finance FD rates and meet small goals with ease.
When faced with a cash crunch, prematurely withdrawing your FD seems like the only viable option. However, this means that you not only have to pay a penalty, but also lose out on your future earnings. You can now avoid this by availing a loan against your fixed deposit.
You can take a loan of up to 75% of your FD value from PNB Housing Finance. This means that if you have invested ₹3 Lakhs in a fixed deposit, you can get a loan for up to ₹2.35 Lakhs. This helps you to meet your obligations without losing your future earnings.
Nominal withdrawal period
You may want to withdraw your FD due to numerous reasons, and PNB Housing Finance allows you to do this with ease. After just 3 months of starting your deposit, you can withdraw it while still getting fair returns.
When you withdraw your FD within 6 months, you get interest earnings at the rate of 4% and when you do so after 6 months, you get an interest rate that is 1% lower than that of a public FD applicable to the same timeline.
Now that you know its multiple features, start your FD now to enjoy high PNB Housing Finance FD rates. Use the FD interest calculator to forecast your returns so you can plan for your goals with ease.