Customers usually deposit their hard-earned money in a bank savings account to keep it safe. However, sometimes they look for better returns and prefer to invest in safer bank schemes that offer higher returns than a savings account. In fact, the bank’s Recurring Deposit (RD) and Fixed Deposit (FD) schemes are both safe and popular investment options.
Safe Investment with PNB: Great Returns from Recurring Deposits (RD)
Nowadays, there are many investment options, including the stock market and mutual funds, which offer high returns. However, they also come with a high level of risk. This is why many people hesitate to invest their hard-earned money in the stock market or mutual funds. Instead, they prefer safer investment options like bank Recurring Deposits (RD) or Fixed Deposits (FD).
Why Choose PNB’s RD Scheme?
When it comes to investing in recurring deposits, Punjab National Bank (PNB) offers one of the best options. By investing in this scheme, customers can earn attractive returns.
Interest Rates on PNB’s RD Scheme
PNB’s RD scheme offers an interest rate of 5% annually for terms of 1 to 2 years. However, for a 4-year RD, the interest rate is 6.5% per year.
How Much Will You Earn?
Let’s say someone invests ₹4,500 every month in PNB’s 4-year RD scheme. At the end of the 4-year term, they could receive around ₹2,77,000 as a return.
Here’s how it works:
- The investor deposits ₹4,500 every month.
- Over one year, they will deposit ₹54,000.
- After 4 years, the total investment would be ₹2,16,000.
With an annual interest rate of 6.5% on the 4-year RD scheme, the investor will receive approximately ₹2,77,038 by the end of the term. This shows that even with a small monthly investment, one can earn a significant return through PNB’s RD scheme.
