6 Benefits of Investing in PNB housing Fixed Deposit

This is a step-by-step guide covering all the aspects of PNB housing fixed deposits and also mentioning the uttermost benefits you can get by investing.

Jun 28, 2022 - 07:47
Jan 27, 2023 - 06:20
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6 Benefits of Investing in PNB housing Fixed Deposit
Fixed Deposit

If you're looking for safe investment options, go for a fixed deposit scheme. FD schemes secure your money while earning income through interest rates. Even when you encounter an emergency that requires quick cash, you can withdraw your money before the maturity period, which allows you to attend to your financial needs without stress.

Check out the institutions with the most attractive FD interest rates before choosing a fixed deposit scheme. CARE and CRISIL agencies rank financial institutions. You need to select a well-ranked bank or financial institution which indicates a high degree of safety of your deposits and timely payment of the earned interest and principal amount.

Are you looking for where to invest your money in fixed deposits? You're on the right page. Check out why you should choose PNB housing finance as a fixed deposit scheme provider of your choice.

Below are the reasons why PNB Fixed Deposit Scheme is the Best:

High Returns

When you invest in the PNB FD scheme, you get higher than the industry's average interest rates. The focus is on housing and real estate, a booming sector. Most loans from PNB housing finance are collateral-based, which means minimal default or reduced non-performing assets.

Therefore, your deposits are safe, and the returns are guaranteed.

PNB offers both cumulative and non-cumulative fixed deposit interest rates. The current FD rates for a ten-year cumulative FD scheme can go up to 9.40% upon maturity. On the other hand, you'll get a 5% to 6.85% interest rate on your FD if you invest in a non-cumulative FD scheme.

If you invest on a ten-year FD tenure, you earn more than a one-year fixed deposit plan.

Instant Credit Against Your FD

Fixed deposits can help you during a financial emergency. When you invest in the PNB housing FD scheme, you are allowed to apply for a loan against a fixed deposit.

Once you open a fixed account with PNB and deposit money, you are given a fixed deposit certificate, which serves as collateral for the loan against the fixed deposit. The loan repayment is aligned with your fixed deposit tenure, making it convenient to repay.

Other benefits of a loan against FD include:

Zero processing fee

Low-interest charges

Loan up to 90% or 95% of the fixed deposit amount

Hassle-free loan and you are not required to break your fixed deposit

Excellent Liquidity 

PNB fixed deposit scheme is 100% liquid. In case of an emergency or dire need of cash, you're free to withdraw your money. 

Do you intend to withdraw your money before the end of FD tenure? You're supposed to visit the bank with a written application. However, if you invested in FD online, you can make a withdrawal request online. 

Remember, premature withdrawal comes with some fees or penalties. But the charges are cost-friendly.

Convenience

You don't have to run to the PNB offices to open a fixed account. 

PNB offers a doorstep service facility where the officers visit your registered address to obtain and verify your documents. 

That makes the process of investing in a fixed deposit easily.

PNB Fixed Deposit Nomination

PNB housing fixed deposit nomination is allowed based on the national housing bank guidelines. 

Life is full of uncertainties, and when a depositor is faced with an unfortunate demise, the deposit and interest can be paid to the depositor's nominee. The payment could be executed without reference to legal representatives or heirs if the depositor had a nominee before the demise.

High Returns Safe Income

Fixed deposits will give decent returns. When you invest in PNB fixed deposit scheme, you're assured of regular income at predetermined intervals. If you need money monthly, quarterly, or half-yearly, choose a non-cumulative FD scheme, which pays interest at periodic intervals.

Fixed deposits are a relatively safe investment option, meaning you'll never lack returns. If you invest up to Rs. 5 lakh, your money is insured by the deposit insurance & credit Guarantee Corporation, which implies you can't get losses.

Conclusion

Open a fixed deposit account with PNB housing finance and begin accumulating wealth. PNB offers attractive interest rates on fixed deposits, and the customer's money remains safe till the maturity of the investment tenure. Customers can withdraw their money before maturity in case of any financial emergency. While depositors pay the penalty for premature withdrawals, the fees are customer-friendly.