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PNB Housing Finance FD Interest Rates

PNB Housing Finance Fixed Deposit Rates 2020

Last Updated 09th Jul 2020

PNB Housing Finance offers best FD rate of 7.35% on term deposits for a tenure of 0 month to 120 months. Current PNB Housing Finance FD rates for senior citizens range from 7.25% to 7.60%. Fixed Deposits rates of PNB Housing Finance are a function of many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank.

Tenure FD Rates Senior Citizen FD Rates
to 120 months 7.35% 7.60%
12 months to 23 months 7.00% 7.25%
24 months to 35 months 7.00% 7.25%
36 months to 47 months 7.15% 7.40%
48 months to 59 months 7.15% 7.40%

PNB Housing Finance Fixed Deposit (FD)

PNB Housing Finance FDs are one the best investment option available for depositors who are looking to invest in a fixed income instrument and earn higher returns than savings account. Key Features of PNB Housing Finance FD are:

  • Deposit Amount: PNB Housing Finance FD can be opened with an amount as a low ₹ 10,000 to up to No Limit.
  • FD Tenure: Ranges between to 120 months.
  • Interest Rate Range: 7.00% p.a. to 7.35% p.a.
  • Senior Citizens FD Rate: 7.25% to 7.60% p.a.
  • Highest Interest Rate: As per today’s rate, PNB Housing Finance’s highest interest rate on FD is 7.35% offered for a tenure of 120 months.
  • Safety of SBI Deposits: PNB Housing Finance is a HFC and hence, its deposits are not covered under insurance. However, deposits of bank_type_name are rated by rating agencies, which give a good understanding of your savings. AAA or AA rated deposits are considered have the highest safety
  • Loan against FD: As per the policy of PNB Housing Finance. To be confirmed at the time of opening a FD.
  • Auto Renewal Facility: Available
  • Nomination Facility: Available
  • Popular FD Schemes: Regular Fixed Deposit

PNB Housing Finance Best FD Plan

We need to compare tenure wise FD rate of PNB Housing Finance to choose the tenure at which it provides the highest interest rate. PNB Housing Finance FD rates are best for the deposits with a tenure of 72 months to 120 months, wherein the current FD rate of interest is 7.35% p.a

If one is looking to invest in long term deposits, PNB Housing Finance FD interest rates with tenure of 5 years to 120 months are a good choice with interest rates on deposits with a tenure of 120 months at 7.35%. Senior citizens are offered special rates from bank with highest deposit rates of 7.60% p.a. on long term FDs.

Fixed Deposits of PNB Housing Finance have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in PNB Housing Finance are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited

Documents required to open Fixed Deposit Account in PNB Housing Finance

  • Latest photograph
  • Age Proof: PAN Card, Voter ID Card, Passport, Driving License
  • Residence Proof: Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority

FD in PNB Housing Finance – Premature Withdrawal

Premature closure of Term Deposit with PNB Housing Finance is along with the lower interest rate of 4% on deposits upto 6 months and 1% for deposits above 6 months than the contracted rate. The penal provisions for premature closure on PNB Housing Finance FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit PNB Housing Finance

PNB Housing Finance offers loan up to 75% against its own deposit. Note that PNB Housing Finance will not give you loan against FD of any other bank. PNB Housing Finance offers Loan against FD at the rate of 8% to 8.35%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in PNB Housing Finance. The borrower later decided to take loan against his FD. The bank has approved a credit limit of 75% against his FD at 10% interest rate. Now, if the borrower draws ₹ 75,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 75,000 availed for 1 month only. The amount he repays after 1 month is ₹ 75,612. So, the interest charged on the loan taken is ₹ 612.

FD Account Opening Process at PNB Housing Finance

To open a Fixed Deposit account in PNB Housing Finance, you can visit the official website and login to your account. Choose Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the PNB Housing Finance FD after reading the terms and conditions.

Nomination Facility on PNB Housing Finance FD

PNB Housing Finance offers nomination facility on Fixed Deposit to claim the amount in case of the death of the depositor. An individual, single or joint account holders can appoint a nominee. Only one person can be appointed as nominee. You can fill nominee details while opening a PNB Housing Finance fixed deposit. Nominee has to submit his/her identification proof at the time of claim.

PNB Housing Finance Fixed Deposit Scheme

Regular Fixed Deposit

Description:

  • Under this regular fixed deposit scheme, the customers will grow their savings with assured returns and higher stability on your investment.
  • Rated FAA+/Stable by CRISIL, AA+ by CARE
  • No tax deduction on interest upto Rs. 5000
  • Premature cancellation allowed after 3 months
  • Higher rates for senior citizens
  • Loan upto 75% of deposit

FAQs

What is the highest FD rate for PNB Housing Finance?

You can earn a maximum interest of 7.35% on PNB Housing Finance fixed deposit.

Are there any special rates for senior citizens FD of PNB Housing Finance?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 7.00% to 7.35%. Compared to this, the rate of senior citizens FD are in the range of 7.25% to 7.60%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with PNB Housing Finance?

The minimum deposit amount required to book an FD with PNB Housing Finance is ₹ 10,000.

Can I deposit additional amount in my FD account?

No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

Who is eligible for opening an FD account in PNB Housing Finance?

All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

What documents are required to open an FD account in PNB Housing Finance?

The documents required to open an FD account in PNB Housing Finance includes Latest photograph, Age Proof: PAN Card, Voter ID Card, Passport, Driving License, Residence Proof: Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority.

Is it possible to change the tenure of my existing fixed deposit account with PNB Housing Finance?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with PNB Housing Finance without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

What is the current interest rate on FD in PNB Housing Finance?

Current interest for FD in PNB Housing Finance ranges between 7.00% - 7.35%.

Can a customer open a FD account online in PNB Housing Finance?

Yes, you can submit your application for opening a FD account on the website of PNB Housing Finance. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.

In how many years FD will double in PNB Housing Finance?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 7.35%. For PNB Housing Finance FD the number of years in which your FD will get doubled is; 72/7.35 = 10


PNB Housing Finance News - Jul 2020
  • 2020-03-12 : PNB Housing Finance revised its FD rates
    PNB Housing Finance changed its FD rates. The fixed deposit rate for 12 to 23 months is 7.50%, it is 7.65% for 24 to 59 months and it stands at 7.70% for 60 to 71 months. Further, FD rates 72 months to 120 months is 7.40%. The rates vary by .25% for senior citizens. The revised rates are in effect from 12 March 2020.
  • 2020-02-14 : PNB Housing revised its FD rates
    With effect from 14 February 2020, PNB Housing revised its FD rates. Fixed deposit rate for 12 to 35 months is 7.75%, for 36 to 47 months it is 7.95% and 48 to 71 months it is 7.80%. Further, the fixed deposit rate for 72 months to 120 months is 7.75%.
  • 2020-01-06 : Revised Fixed Deposit rates by PNB Housing Finance
    With effect from January 6, 2019, PNB Housing Finance revised its interest rates on Fixed Deposits. The revised rate for 12-35 months is 8.00%; the rate for 36-59 months is 8.10%; for 60 months to 84 months, the rate is 8.15%; and for 120 months, the new FD rate is 8.00%. In addition to this, the rates for senior citizens differ by an additional 25 basis points.
  • 2019-07-24 : PNB Housing Finance is looking to raise tier-I capital by issue of equity shares
    In a bid to augment its capital base and support business growth, PNB Housing Finance is looking to raise tier-I capital by issue of equity shares. Also, the lender has plans to achieve significant growth across its retail loan segment including home loans, mortgage loans, and deposits this year.
  • 2018-07-05 : PNB Housing Hikes Interest Rate On Fixed Deposits
    PNB Housing has revised its interest higher on retail fixed deposits or FDs below Rs. 1 crore, Deposit rate in the each bracket has been increased by up to 20 basis points except maturity bracket 36 month to 47 month increased by upto 10 basis ponit, which were fetching 7.90% interest will fetch 8.00% Interest rate. The new rates are currently effective.
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