PNB Housing finance fixed deposits Plan: A fixed deposit is a tax saving financial instrument that gives the investor a higher rate of interest compared to the regular savings account after the maturity period. Since it is not aligned with the market fluctuations, a fixed deposit account is a low-risk investment with guaranteed returns.
The FD rate offered varies between banks and financial institutions. With competitive FD interest rates, the PNB Housing Finance limited helps customers create a robust corpus through their FD schemes.
Compiled below are some of the pointers regarding the FD schemes of PNB Housing finance limited that can assist every investor in making an informed decision?
Contents
PNB Housing finance fixed deposits Plan
FD interest rates of 2019
Currently, PNB housing offers the highest and the best FD interest rates that an investor can fetch on FD.
Listed below are the FD rates offered by PNB Housing.
- Cumulative Option
Under this option:
- The Interest rate is compounded annually,
- Payment made at the time of maturity along with the principal amount.
| Tenure | Rate of Interest (ROI) p.a |
| 12-23 | 8.05% |
| 24-35 | 8.10% |
| 36-47 | 8.20% |
| 48-59 | 8.35% |
| 60-71 | 8.45% |
| 72-84 | 8.30% |
| 120 | 8.25% |
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2.Non-Cumulative options
The interest is paid as per the frequency is chosen by the applicant. Hence, these can be considered as regular income schemes.
| Tenure | ROI p.a | |||
| Monthly | Quarterly | Half Yearly | Annual | |
| 12-23 | 7.75 | 7.8 | 7.85 | 8.05 |
| 24-35 | 7.8 | 7.85 | 7.9 | 8.1 |
| 36-47 | 7.9 | 7.95 | 8 | 8.2 |
| 48-59 | 8.05 | 8.1 | 8.15 | 8.35 |
| 60-71 | 8.15 | 8.2 | 8.25 | 8.45 |
| 72-84 | 8 | 8.05 | 8.1 | 8.3 |
| 120 | 7.95 | 8 | 8.05 | 8.25 |
Note:
The Fixed Deposit (FD) rates offered for individual deposits up to Rs. 5 crores are different from the standards listed above.
Features of Fixed deposit account with PNB
- A viable investment with guaranteed returns
- Investors can choose their mode of payment. PNB offers benefits on a monthly, quarterly and annual basis
- A hassle-free investment with minimum documentation.
- During immediate financial requirements, clients can opt to liquidate their fixed deposit account (FD). PNB offers the facility of premature withdrawal after a lock-in period of 3 months
- Senior citizen investors are eligible for a 0.25% higher rate of interest from PNB.
- For monthly income schemes, a minimum deposit of Rs 25,000 is applicable. For all other plans, the PNB Housing has set a minimum deposit limit of Rs.10,000.
- Investors can also avail of a loan for up to 75% of the principal amount. The interest rates offered for these loans are better than regular loans.
- No tax is deducted at source on deposits limited to Rs 5,000 in a fiscal year.
When to plan for a fixed deposit account?
It is a common practice of taxpayers to procrastinate their tax-saving investments to the end of the fiscal year, thus leading to irrational decisions. Experts suggest that the best time to invest in a Fixed deposit account (FD) or any tax saving investment is during the beginning of the financial year. Planned investments grow over time, thus aiding investors to achieve their long-term financial goals.
The important things to know before investing in Fixed Deposits
- High safety assurance
- Nomination
- Interest Rate
- Minimum Deposit
- Tenure
- Loan facility
- Tax Deduction at Source (TDS)
- The advantage for senior citizens
- TDS deduction
- Premature Withdrawal
- Door Step Services
- Auto-renewal/Auto Maturity Process
Fixed deposits are, therefore, a secure and diplomatic investment that serves the sibling target of regular income service and commercial building with little or no risk for investments.
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PNB Housing finance fixed deposits FAQ
(Frequency asked questions)
What is a Fixed Deposit Corporation?
A company or big business deposit is a stable investment available option for business customers. The minimum investment approved within this scheme is Deposit 10 lakh.
What do I do with FD?
Payments can be managed to make through cheque, a net banking sector, or even a cheque (CMS).
What really is the notice period for PNB Property Fixed Deposit?
PNB Housing Fixed Deposit has a minimum period in one year.
In PNB Accommodation, what is the interest Fixed-rate rate?
The interest rate of Fixed Deposit is separated according to the tenure and category of deposit. At a fixed deposit interest rate, the earliest applicable interest rates are available.
In which documents is a Fixed Deposit needed?
To open a fixed deposit with PNB Housing, essential KYC documents such as PAN and Aadhaar are necessary.
TDS on fixed deposits can be avoided?
TDS is not deducted where the interest charged for a given financial year is less or equal to or equal to TDS 5,000.
Is the fixed deposit for PNB Housing enclosed by 80C?
No, the tax deduction under Section 80C may be made available to banks only by Tax Saving FDs. There is a lock-in for five years in fixed deposits for tax savings