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PNB Housing Finance Fixed Deposit

PNB Housing Finance FD Scheme

Last Updated 28th Oct 2020

PNB Housing Finance fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 5.90% to 6.70%
Minimum Tenure 1 year
Maximum Tenure 10 years
Deposit Amount Rs. 10,000
Maximum Deposit No Limit
    Earn upto 6.95% on FD APPLY NOW

    PNB Housing Finance FD

    PNB Housing Finance is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 1 year to 10 years. Apart from that, PNB Housing Finance FD offers regular returns on fixed deposit ranging between 5.90% to 6.70%. For senior citizens, the interest rates on fixed deposits range between 6.15% to 6.95%. In addition to that, PNB Housing Finance fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of PNB Housing Finance Fixed Deposit Schemes

    Different type of PNB Housing Finance term deposit products offered to the investors are listed as follows:

    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

    Eligibility:

    • All individuals, HUFs, and corporates can invest in this scheme.

    Benefits of PNB Housing Finance FD

    PNB Housing Finance fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are listed as follows:

    • Guaranteed returns: The best thing about PNB Housing Finance FD is that it offers guaranteed and assured returns to the investors. The return offered on fixed deposit is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, PNB Housing Finance offers FD rates up to 6.70%. The interest rates offered on PNB Housing Finance FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. As PNB Housing Finance is a HFC, deposits are not covered under insurance. However, credit rating agencies give ratings to your deposits, which give a good understanding of savings. Investing in a FD with a FD provider with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, PNB Housing Finance term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in FD scheme is not only a reliable investment option but can also act as an asset. This is because PNB Housing Finance fixed deposit allows one to borrow a secured loan against PNB Housing Finance FD. The Bank allows a loan up to 90-95% of the FD amount. The best part about PNB Housing Finance loan against fixed deposit is that one does not need to break his or her FD to borrow the loan.
    • Flexible tenures: PNB Housing Finance FD offers the investors the flexibility to choose the investment tenure as per their convenience. PNB Housing Finance offers fixed deposit for a minimum tenure of up to a maximum tenure of 10 years. PNB Housing Finance offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, PNB Housing Finance fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 10,000. Apart from that, one can invest in the PNB Housing Finance FD up to a maximum of No Limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with PNB Housing Finance means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from PNB Housing Finance will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of PNB Housing Finance fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for PNB Housing Finance FD

    PNB Housing Finance FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for PNB Housing Finance FD

    PNB Housing Finance fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    FAQs

    What is the loan against FD repayment tenure?

    PNB Housing Finance offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years.

    What is the minimum investment for FDs under PNB Housing Finance?

    PNB Housing Finance FD can be availed with a minimum deposit of Rs. 10,000.

    What is the minimum amount for a fixed deposit in PNB Housing Finance?

    The minimum amount required for a fixed deposit investment in PNB Housing Finance fixed deposit is Rs. 10,000.

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

    Currently, PNB Housing Finance offers an interest rate ranging between 5.90% to 6.70% on its fixed deposits.

    What is the penalty for early withdrawal?

    The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in PNB Housing Finance?

    PNB Housing Finance fixed deposit can be opened with a minimum tenure of 1 year.


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    PNB Housing Finance News - Jan 2021
    • 2020-08-14 : PNB Housing Finance revised its Fixed Deposit rates
      PNB Housing Finance changed its FD rates. The fixed deposit rate for 12 to 23 months is 6.65%, it is 6.75% for 24 to 35 months and it stands at 6.90% for 36 to 59 months. Further, FD rates 60 months to 120 months is 7.00%. The rates vary by 50 bps for senior citizens. The revised rates are in effect from 14 August 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.
    *Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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