Due to the recent huge fluctuations in the stock market, Fixed Deposit (FD) is still a reliable way for people looking for a safe investment option. If you are also thinking of investing in PNB FD, then this can be a great opportunity for you. Know the high interest rates of Punjab National Bank and how you can earn guaranteed profits on your money.
Which PNB FD gives the most benefit
Punjab National Bank offers several FD schemes for its customers with tenures ranging from 7 days to 10 years. The bank offers different interest rates for general citizens, senior citizens, and super senior citizens (above 80 years). You get the most benefit on PNB’s 390-day FD, on which high interest rates of up to 6.60% are being offered.
Interest rates on FD
The interest rates on PNB’s fixed deposits vary according to the investment period and the customer category. For general citizens, 6.40% interest is available on FDs of 1 year, while senior citizens get 6.90% and super senior citizens get 7.20%. On the other hand, on FDs of 390 days, this rate is 6.60% for general citizens, 7.10% for senior citizens, and 7.40% for super senior citizens. On FDs of up to 5 years, general citizens get 6.50% and senior citizens get 7.00% interest, while for super senior citizens, this rate is 7.30%. FDs of up to 10 years get an interest rate of 6.00%.
Investment of ₹2 lakh
If you invest ₹2 lakh for 5 years, you can get great returns. PNB is offering an interest rate of 6.50% to general citizens, 7% to senior citizens, and 7.30% to super senior citizens on its 5-year FD. If you are a general citizen and invest ₹2 lakh, then your total amount on maturity will be ₹2,76,084. That is, with this safe investment, you will get a sure profit of ₹76,084 as interest.
Keep the inflation rate in mind before investing
Before investing money in an FD, you must keep the inflation rate in mind. If the return from your investment plan is less than the average inflation rate, then the real value of your money may decrease in the long run. The value of money decreases due to inflation over time, so it is important that your investment can beat inflation. Therefore, before making any decision, understand all the aspects carefully.