If you are looking for a safe and guaranteed return investment option, then Fixed Deposit (FD) is still the most preferred option among people. Especially, people trust government banks more as the risk is negligible in the case of FD. Punjab National Bank (PNB) offers attractive interest rates on savings schemes and fixed deposits. At PNB, you can open an FD for a period ranging from 7 days to 10 years.
This report will shed light on PNB’s 24-month (2-year) Fixed Deposit scheme. You will know how much money an investor will get at maturity if he invests Rs 2 lakh. Along with this, you will also know the interest rates for general citizens, senior citizens and super senior citizens.
PNB FD Scheme: Interest Rates
PNB offers different interest rates for 24-month FDs based on customer category:
- General Citizen: 6.40%
- Senior Citizen (60+ years): 6.90%
- Super Senior Citizen (80+ years): 7.20%
The minimum deposit to open this FD account is ₹10,000.
Returns on ₹2 Lakh Investment
For General Citizens:
- Investment Amount: ₹2,00,000
- Interest Rate: 6.40%
- Total Interest: ₹27,080
- Maturity Amount: ₹2,27,080
For Senior Citizens:
- Investment Amount: ₹2,00,000
- Interest Rate: 6.90%
- Total Interest: ₹29,325
- Maturity Amount: ₹2,29,325
For Super Senior Citizens:
- Investment Amount: ₹2,00,000
- Interest Rate: 7.20%
- Total Interest: ₹30,689
- Maturity Amount: ₹2,30,689
Who Should Choose This Scheme?
People interested in low-risk investments
Those who want to keep their money safe in the bank
Those looking for fixed and assured returns
PNB’s 24-month fixed deposit is a good option for people who want stable and reliable returns. The investment process is simple, the bank is government-owned, the returns are assured, and the interest rates are attractive. If you are planning to build a safe fund for the future, this FD can be an excellent choice.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Consult a financial advisor before making any investment.