In a periodic interest payout option, PNB Housing Finance would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
In case you opt for a PNB Housing Finance cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
Calculate the FD maturity amount using the FD calculator.
Fixed Deposit calculator PNB Housing Finance – Will TDS be deducted?
In case the interest earned by you across all your fixed deposits across all branches of PNB Housing Finance in a year exceeds 5000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the PNB Housing Finance records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your PNB Housing Finance FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
PNB Housing Finance will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.
PNB Housing Finance FD interest rate calculator – Check your city
Keep your KYC documents - PAN card, address proof and photo ready.
To know more or apply, contact any of the branches of PNB Housing Finance in your city
16th Nov 16 PNB Housing Finance net profit in the second quarter increases by 78 percent
PNB Housing Finance, in its first quarterly result after listing, reported an increase in its net profit by 78 percent to Rs. 137 crore in the quarter ended on 30th September, 2016 as compared to Rs. 77 crores during the same period a year ago. Total income also rose by 50 percent to Rs. 970 crores.
14th Oct 16 PNB Housing Finance cuts home loan rates by 10 basis points
PNB Housing has reduced its home loan rates by 10 bps. The floating home loan rates have been reduced to 9.45 per cent from 9.55 per cent while fixed rates decreased to 9.4 from 9.5 per cent. PNBHFL has also cut its loan against property rates by 25 bps to 11 per cent from 11.25 per cent. This rate cut will be effective from 14th October, 2016.
14th Oct 16 PNB Housing Finance gets SEBI approval for Rs. 2,500 Cr IPO
PNB Housing Finance got capital market regulator SEBI approval to raise Rs. 2,500 Cr through Initial Public Offering out of which a portion will be reserved for the employees. The housing finance company filed its IPO papers in July and SEBI issued its final observations on October 6th. Public sector lender PNB owns 51 percent stake in the company and after the IPO, it will continue to hold 35 to 37 per cent of the paid up share capital.
03rd Aug 16 PNB Housing Finance Limited join hands with AuthShield
PNB housing finance limited has tied up with AuthShield to secure the financial accounts of their customers. Authshield is the pioneering product of Innefu Labs which is an Information Security Company. PNB has taken the initiative to reduce the incidents related to hacking. AuthShield is designed to prevent hacking attacks on emails, ERPs, etc. PNBHFL is a 27 year old public sector housing finance company and is working on developing security products at affordable costs.
25th Jul 16 PNB Housing Finance plans to expand in tier 2, 3 cities
PNB Housing Finance is planning to expand its business to Pan India levelto meet the growing demand from tier-II and tier-III cities . At present, the company has 48 branches at 28 locations. The company is targeting 60 more locations that have a population of more than 8-9 million.
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