PNB FD Scheme: Fixed Deposit, i.e., FD, has always been a safe and reliable investment option for Indian investors. Whenever there is a fluctuation in the market or one does not want to take a risk, then an FD comes forward as an option that keeps your money safe, as well as gives good returns. Punjab National Bank (PNB) FD Scheme also falls in this category, which gives you guaranteed interest of up to ₹ 49,943 on an investment of just ₹ 2 lakh.
Return on investment in PNB FD Scheme
PNB’s FD scheme is available for three years, and the interest rate in it varies according to the category of the investor. If you are a general citizen, you will get an interest rate of 7.00%, while senior citizens are given an interest rate of 7.50%. Here is the detailed table in English for the PNB FD Scheme, breaking down the interest calculation for both regular citizens and senior citizens:
| Details | Regular Citizen (7.00% Interest) | Senior Citizen (7.50% Interest) |
|---|---|---|
| Investment Amount | ₹2,00,000 | ₹2,00,000 |
| Interest Rate | 7.00% (Annual) | 7.50% (Annual) |
| Maturity Amount | ₹2,46,287 | ₹2,49,943 |
| Total Interest | ₹46,287 | ₹49,943 |
| Tenure | 3 Years | 3 Years |
| Interest Payment | Quarterly | Quarterly |
| Interest Rate Change | May change every quarter | May change every quarter |
| Interest Benefit | Annual interest earned on the investment amount | Annual interest earned on the investment amount |
What is the additional benefit to senior citizens?
PNB offers 0.50% more interest to its senior citizen account holders. For example, if a general citizen is getting 7.00% interest, then the same interest rate will be 7.50% for senior citizens. Also, if a general citizen is getting 7.25% interest, then senior citizens will get 7.75%.
This special benefit can be very beneficial for retired persons and pensioners, as the aim of this scheme is to provide them with fixed income, which ensures a good return every month or at the time of maturity.
Is this scheme right for everyone?
If you are an investor who wants low risk, fixed returns, and protection of capital, then this PNB FD scheme can be a great option for you. This scheme can prove to be very beneficial, especially for senior citizens, as it provides them both a safe investment option and good returns.
If you want good interest every year along with the protection of principal while avoiding risk, then the PNB FD Scheme can be a suitable investment plan.
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