If you’re looking for a safe way to invest your money and earn decent returns, the Punjab National Bank (PNB) Fixed Deposit Scheme could be just what you need. One of the best things about this scheme is that it offers attractive interest rates without requiring you to lock your money away for too long.
Updated Interest Rates and Special Perks
PNB has recently upped its interest rates, making this scheme even more appealing for investors. Senior citizens can enjoy an additional 0.50% interest compared to regular investors as part of a special benefit. The interest rates vary depending on the investment period.
1-Year Tenure: 6.50% annual interest.
3-Year Tenure: Interest rate increased to around 7%.
4-5 Year Tenure: 6.50% interest.
Investment and Return Breakdown
Investing Rs 1 lakh
If you put in Rs 1,00,000, you’ll end up with ₹1,38,042 after 5 years at a 6.50% interest rate, which means you’ll earn ₹38,042 in interest.
Investing Rs 2 lakh
If you deposit Rs 2,00,000, you’ll receive a total of Rs 2,76,084 in 5 years, which includes Rs 76,084 as interest.
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