How To Get ₹5,32,433 in 5 Years With PNB RD Scheme By Depositing This Amount

PNB RD Scheme: If you want to create a good fund for the future by investing a small amount, then Punjab National Bank (PNB)’s Recurring Deposit (RD) scheme can be a great option for you. This scheme is suitable for those investors who cannot deposit a large amount at once and want to start investing with a small amount every month. Let’s know complete information about this scheme.

Benefits of PNB RD Scheme

In PNB’s RD scheme, you get an opportunity to deposit a fixed amount every month. In this scheme, you can invest from 1 year to 5 years. The main advantage of this scheme is that you have to deposit a small amount regularly every month, and at the time of maturity, you get your deposit amount as well as interest. Usually, you get more returns on investing for a long time. The return on investment in this scheme is assured, and it is a safe scheme, so you can create your fund without any worry.

How to start investing

Investing in the PNB RD scheme is very easy. One can start investing in this scheme with a minimum of ₹ 100 per month. Apart from this, there is no maximum investment limit in this scheme; that is, you can decide the investment amount according to your convenience and capacity. This scheme provides you with safe and assured returns, which can help you meet your future goals.

Interest rate on PNB RD scheme

Punjab National Bank offers interest rates ranging from 6.5% to 7.25% on its RD scheme. This interest rate may be changed by the bank from time to time, but at present, you can get more than 6.5% interest on investment up to 5 years. This interest rate is for common citizens, while the interest rate may be slightly higher for senior citizens.

Benefit on monthly investment of Rs 7,500

Suppose you invest Rs 7,500 every month. In such a situation, your investment will become ₹ 90,000 in a year. If you continue it for 5 years, then this amount becomes ₹ 4,50,000. Now on, at the interest rate of 6.5%, you will get a total return of ₹ 5,32,433 on maturity of 5 years. At the same time, senior citizens can get ₹ 5,39,499 for the same amount at the rate of 7% interest.

Conclusion

PNB’s Recurring Deposit (RD) scheme is a great and safe investment option, where you can start with as little as ₹ 100 per month. This scheme gives you fixed returns, and you can get good profits by investing for a long time. So, if you also want to create a good fund for the future, then the PNB RD scheme can be a great option for you.

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