In the current market volatility, a Fixed Deposit (FD) is a good choice for people who want to save money without risk. Punjab National Bank (PNB), the country’s second-largest state-owned bank, has been offering trusted FD services for many years.
PNB has introduced a 390-day FD scheme with different interest rates for general and senior citizens. If you deposit ₹3,00,000 for this period, it is important to know how much you will receive at maturity.
PNB is offering attractive interest rates on fixed deposits. But after the recent RBI repo rate cut, many banks have reduced their FD rates. PNB gives interest rates between 3.25% and 7.50% on its FDs. For the 390-day FD, the rate is 6.7% for general customers. For senior citizens, the rate is 7.20%. If you deposit ₹3 lakh in a 390-day FD with PNB, you will get ₹3,22,073 at maturity. Senior citizens will get ₹3,23,768.
If someone invests ₹2,00,000 in this FD for 24 months, the maturity amount will depend on the interest rate offered to each category.
For a general citizen:
- Investment Amount: ₹2,00,000
- Interest Rate: 6.40%
- Total Interest: ₹27,080
- Maturity Amount: ₹2,27,080
For a senior citizen:
- Investment Amount: ₹2,00,000
- Interest Rate: 6.90%
- Total Interest: ₹29,325
- Maturity Amount: ₹2,29,325
For a super senior citizen:
- Investment Amount: ₹2,00,000
- Interest Rate: 7.20%
- Total Interest: ₹30,689
- Maturity Amount: ₹2,30,689
This plan is best for people who want low-risk savings, prefer to keep money safe in the bank, and want fixed, assured returns. Senior and super senior citizens get higher interest, which makes this FD more beneficial for them.
PNB’s 24-month FD is a good choice for anyone looking for steady and reliable returns. The process is simple, the bank is government-owned, the returns are guaranteed, and the interest rate is attractive. If you want to build a secure fund for the future, this FD can be a strong option. (Note: This information is for awareness only. Please consult a financial advisor before investing.)