PNB FD: You want strong returns with safe investments, especially since the RBI recently cut the repo rate by 0.25 percent. Punjab National Bank (PNB), one of the country’s largest public sector banks, has not yet reduced its FD interest rates following this cut, but a reduction is likely soon. This is the perfect opportunity to earn more interest. Today, we’ll tell you about a special PNB FD scheme that lets you earn up to ₹23,872 in fixed interest by depositing just ₹1 lakh.
PNB’s 390-Day FD Scheme
FD accounts can be opened at Punjab National Bank for tenures ranging from 7 days to 10 years. PNB offers interest rates ranging from 3.00 percent to 7.30 percent. PNB provides the highest interest rate on its 390-day special FD. This rate is 6.50 percent for general citizens, 7.00 percent for senior citizens, and the excellent rate reaches 7.30 percent for very senior citizens. Additionally, 3-year FDs also offer good rates. General citizens are earning 6.40 percent, senior citizens 6.90 percent, and very senior citizens 7.00 percent.
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Earnings on an investment of ₹1 lakh
By depositing ₹100,000 in PNB’s 3-year FD scheme, you receive a guaranteed return upon maturity, which varies depending on your category.
General Citizen
If you are a general citizen and deposit ₹1 lakh for 3 years at 6.40 percent, you will receive a total of ₹120,983 upon maturity, including a fixed interest of ₹20,983.
Senior Citizens
Senior citizens can deposit ₹1 lakh for 3 years at a 6.90 percent interest rate, earning a total of ₹1,22,781 at maturity, including a fixed interest rate of ₹22,781.
Very Senior Citizens
Very senior citizens get an excellent rate of 7.00 percent. Depositing ₹1 lakh for 3 years will earn them a total of ₹1,23,872 at maturity, including a substantial interest benefit of ₹23,872.
This scheme is extremely safe and beneficial for those who want to earn a fixed income while avoiding market risk. It’s wise to lock in before interest rates fall, especially after the repo rate cut.
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