PNB Housing Finance FD Rates

PNB Housing Finance Fixed Deposit is an online deposit scheme with a flexible repayment tenure and attractive interest rate of up to 7.79% p.a. It is a convenient and rewarding investment option for individuals, entities, Trusts, Societies and more who are looking to grow their savings securely.

PNB Housing FD offers a convenient calculator to estimate returns. And a convenient process of investing through online account opening and doorstep services. It also offers a premature withdrawal facility, however, it may incur penalty charges based on the duration of the investment.

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Here are the details of PNB Housing FD rates:

PNB Housing FD offers Tax Benefits for investors! You can be eligible for no tax to be deducted at source, if the interest income on your fixed deposit account does not exceed ₹5000 in one financial year.

PNB Housing FD Types

PNB Housing FD offers both Cumulative and Non-Cumulative Options. In the cumulative option, the interest is reinvested and paid along with the principal amount at maturity, while in the non-cumulative option, interest is paid out regularly as per the chosen frequency. The payout frequency of non-cumulative options can be monthly, quarterly, half-yearly or annually.

The minimum deposit amount for cumulative FD is ₹10,000 and the minimum deposit amount for non-cumulative FD is ₹25,000. This low deposit amount brings about inclusivity by accommodating a wide range of investors from diverse financial backgrounds.

PNB HFL FD Rates For Regular Citizens

PNB Housing provides flexibility and options with its fixed deposits, serving as an excellent choice for growing your savings. With a variety of tenures and interest rates available for deposits under ₹5 Crore, both regular investors and senior citizens benefit and earn high-yielding interest rates. Furthermore, Senior citizens enjoy an additional interest rate for deposits under ₹1 Crore on top of the regular interest rates, giving them a good source of income in retirement.

The PNB home finance FD interest rate for regular citizens on deposits of under ₹5 Crores are:

PNB HFL Cumulative FD Interest Rates

PNB HFL Non-cumulative FD for Regular Citizens

PNB Housing Finance FD Rates For Senior Citizens

PNB HFL FD offers senior citizens an additional interest rate of 0.30% p.a. for fixed deposit tenures of 12 to 35 months. And an additional interest rate of 0.20% p.a. for FD tenures of 36 months and above. However, the special rates are only given for deposits of up to ₹1 Crore. Here are the cumulative and non-cumulative FD interest rates for Senior Citizens:

PNB HFL Cumulative FD Interest for Deposits up to ₹1 Crore

PNB HFL Non-cumulative FD Interest for Deposits up to ₹1 Crore

FD Calculator

An online FD Calculator comes in handy when planning for an FD investment as it allows you to understand your returns based on deposit amount, tenure, and interest rate. The calculator simplifies the process, requiring only input of deposit amount, interest rate, and tenure.

Easily estimate the potential maturity amount with the help of this convenient tool.Total Investment :

Using the formula A=P x (1+r/n)^nt, where:

A = Maturity amount
P = Principal amount ₹30,000
r = Annual interest rate 7.09%
n = Number of times interest is compounded per year 1 time
t = Tenure of the FD in years 1 year or 12 months

Substituting the given values into the formula:

A=30,000 x (1+0.0709/1)^1x 1

A=30,000 x (1 +0.0709)^1x 1

A=30,000 x (1.0709)^1x 1

A=30,000 x 1.0709

Therefore at maturity, the amount you will be getting is ₹32,127.

PNB Home Finance FD Eligibility Criteria

The eligibility requirements for opening a PNB Home Finance FD are:

• Resident Indians
• Non-resident Indians (NRIs)
• Trusts, Associations and Clubs
• Public or Private Companies
• Co-operative Societies
• Co-operative Bank
• Partnership Firm

PNB Housing FD Documents

To open a PNB Finance FD, certain documents are required for identity verification, address proof and more. These documents are:

Resident Indians

• Recent passport size photograph
• A self attested PAN card copy
• Self attested copy of Voter ID Card, Aadhaar Card, Passport, Driving License & NREGA Card

Non-resident Indians

• Self-attested copies of the first and last four pages of passport.
• Valid documents like work permits, employment visas, and residence permits.
• Address proofs for both Indian and overseas residences.

Trusts, Associations and Clubs

• Trust Deed or Registration Certificate.
• Copy of Resolution for Investment.
• PAN Card Copy.
• Address Proof.
• Specimen Signatures of Authorised Persons.
• PAN Card, Address Proof, and Photograph of Signing Authorities.

Public or Private Companies, Co-operative Societies, Co-operative Bank

• A copy of Memorandum
• A copy of Articles of Association or Bye-laws.
• A resolution of investment.
• Specimen signatures of authorised persons.
• Address proofs, photographs, and PAN Cards of signing authorities.

Partnership Firm

• Declaration of partnership.
• Names and addresses of partners.
• PAN Card copy of the firm.
• Specimen signatures.

PNB HFL FD Features & Benefits

PNB Housing Finance FD offers unique features and benefits for investors, these are:

• Attractive Interest Rates: PNB Housing Finance offers competitive interest rates as high as 7.40% p.a. For regular citizens and 7.70% for senior citizens.
• Flexible Tenure Options: Investors can choose from a range of flexible tenure options, ranging from 12 to 120 months.
• Regular Interest Payouts: Investors also have the option to get interest payouts at regular intervals, such as monthly, quarterly, half-yearly, or annually.
• Senior Citizen Benefits: Senior citizens can enjoy higher interest rates of 0.30% p.a. On deposit tenures of 12 to 35 months and 0.20% p.a. On deposits tenures of 36 months onwards.
• High Credit Rating: PNB Housing Finance has a high credit rating of ‘AA+/Stable’ rated by CARE and ‘AA/Positive’ rates by CRISIL.
• Online Application and Management: PNB Housing Finance offers the convenience of online application and management of fixed deposits, making it easier for investors to open and manage their accounts.
• Doorstep Services: PNB Housing provides doorstep services for fixed deposit customers, especially for Senior Citizens, offering convenience and ease of application.
• Flexible Lock-in Period: Minimum lock-in period for all types of deposits is 3 months, giving investors the flexibility to withdraw funds when necessary.
• Premature withdrawal: Premature withdrawal is allowed after 3 months of account opening, however there will be a penalty charged.
• Loan Facility: Get a loan against your FD for up to 75% the principal amount.
• Minimum Investment: Easily start your investment journey with a minimal deposit amount of ₹10,000.
• Nomination Facility: PNB Housing Finance FD offers you the benefit of adding a nomination to your FD account.
• Tax Benefits: There will be no Tax Deducted at Source (TDS) for interests of up to ₹5000 in a year.

Steps to Invest in PNB Housing Finance FD

PNB Housing has made investing in an FD easy for individuals and other entities by offering online account opening and even doorstep service for senior citizens who wish to open an account. Below are the steps on how you can start your investment with PNB Housing FD:

Step 1: Visit the PNB Housing website.

Step 2: Click on ‘Fixed Deposit’ then scroll down to the ‘Steps to Open a Fixed Deposit account with PNB Housing.

Step 3: Click on the ‘Contact Us for deposits’ button.

Step 4: Fill in your full name, email address, mobile number, deposit amount and location.

Step 5: Give approval to be contacted by a PNB representative by ticking the ‘I agree’ box.

Step 6: Click ‘Submit’ after which PNB Housing will get in touch with you to collect your documents within the next 48 hours.

PNB Housing FD Premature Withdrawal

The lock-in period for PNB Housing FD is 3 months, after which you can withdraw or close your account before the maturity date. However, premature withdrawal of the account will bring about penalty charges, these penalty charges are as follows:

• If you cancel your deposit between three to six months: , you’ll get a maximum of 4% interest per year if you’re an individual, and no interest if you’re in another category.
• If you cancel after six months but before maturity:, you’ll get 1% less interest than the public deposit rate.
• If no rate is specified for your deposit period:, you’ll get 2% less interest than the minimum accepted rate.
• If the brokerage is paid upfront to the company’s agent: for the entire deposit period.
• If you withdraw early:, excess brokerage paid will be deducted from your deposit amount.