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PNB Housing Finance FD - Scheme, Eligibility, Documents

PNB Housing Finance Fixed Deposit Highlights

Last Updated 09th Jul 2021

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 deposits 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+/Negative by CRISIL, AA/Stable 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 mentioned below:

    • 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 a fixed deposits 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 fixed deposits 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 an 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. Benefits of Loan Against FD of PNB Housing Finance are as follow:
      • Loan against FD of PNB Housing Finance offers the loan amount upto 90%-95% of the FD amount.
      • The interest charged on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
      • Loan against FD of the PNB Housing Finances flexible repayment options.
      • The processing fee of Loan Against FD in the PNB Housing Finance is nil.
      • It is a hassle-free loan and does not require the depositor to break the FD.
    • 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 1 year 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.

    Credit Card Against PNB Housing Finance FD

    Credit Cards againstPNB Housing Finance FD are secured credit cards. They are availed against the amount deposited in the term deposits. They are an ideal option for individuals with low CIBIL score and salary. Below mentioned are the important features of Credit Cards against PNB Housing Finance FD:

    • The limit offered on the credit card depends upon the amount deposited in the fixed deposits. Generally, banks offer around 80% of the deposit amount as the total credit limit on the card.
    • Credit Cards against the fixed deposits require minimum documentation.
    • The minimum tenure of the term deposits should be 6 months to avail credit card against it.
    • Secured Credit cards also offer discounts, cashback and rewards.
    • The cardholder continues to earn the same applicable interest rate on FD.

    FAQs

    What is the loan against FD repayment tenure in PNB Housing Finance?

    Loan against FD is the  facility which allows the investor to avail the loan against the amount deposited in the term deposit. 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 Fixed Deposit is one of the safest investment avenues and it 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 in PNB Housing Finance?

    Bank charges penalty on premature withdrawal of fixed deposits. 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. The tenure of the PNB Housing Finance fixed deposits ranges from 1 year to 10 years.

    Can I deposit additional amount in my PNB Housing Finance 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 KYC documents and Passport size photos.

    In how many years FD doubled in the PNB Housing Finance?

    The time PNB Housing Finance fixed deposits will take to double the initial amount will depend upon the rate of interest offered on the FD. You can calculate the maturity amount of the PNB Housing Finance FD at MyLoanCare by entering the amount you want to deposit and the interest offered on FD.

    Can an NRI open a PNB Housing Finance fixed deposit account?

    No, Non-Resident Individuals are not allowed to invest in PNB Housing Finance schemes. It means that they are not eligible to invest in fixed deposits.

    Is the PNB Housing Finance safe for FD?

    Yes, the PNB Housing Finance is one of the safest avenues for any investments. PNB Housing Finance is backed by the Government of India and the returns on any investment including fixed deposits are guaranteed.

    Is it wise to take a loan against FD from the PNB Housing Finance?

    Yes, opting for a Loan Against FD is an excellent decision. The reasons to take loan from PNB Housing Finance are:

    • It offers the loan upto 90%-95% of the FD amount.
    • The interest levied on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
    • Loan against FD offers flexible repayment options.
    • The processing fee of Loan Against FD is Nil.
    • It is a hassle-free loan and requires minimum documentation.
    • Loan against FD helps the depositors to avoid the option of premature withdrawal.

    However, there might be a chance that the alternative credit option is offering lower rates with better facilities. In that case, individuals must compare and decide on the credit option.


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    PNB Housing Finance News - Jul 2021
    • 2021-04-30 : PNB Housing Finance posted ₹127-cr net profit in Q4
      PNB Housing Finance reported a consolidated net profit of Rs 127 crore in Q4 backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during January-March was down at Rs 1,834 crore from Rs 1,952 crore in the same period of 2019-20. Interest income dropped over 7% at Rs 1,670 crore during the quarter as against Rs 1,803 crore a year earlier.
    • 2020-11-30 : Revised Fixed Deposit rates PNBHFL
      PNB Housing Finance changed its FD rates. The fixed deposit rate for 12 to 23 months is 5.90%, it is 6.15% for 24 to 35 months and it stands at 6.60% for 36 to 59 months. Further, FD rates 60 months to 120 months is 6.70%. The revised rates are in effect from 28 November 2020.
    • 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%.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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