For those seeking a secure investment option that offers competitive returns, the Punjab National Bank (PNB) Fixed Deposit Scheme is worth considering. This scheme not only ensures the safety of your capital but also provides attractive interest rates without requiring long-term commitments.
PNB has recently revised its FD interest rates, making it a more lucrative choice for investors. Senior citizens, in particular, benefit from an additional 0.50% interest rate over the standard rates. Interest rates vary based on the chosen tenure:
These revised rates cater to both regular and senior citizen investors, ensuring steady growth on your deposits.
If you invest ₹1,00,000 in an FD for 5 years at an interest rate of 6.50%, your total maturity amount will be approximately ₹1,38,042. This includes an interest earning of ₹38,042.
A deposit of ₹2,00,000 over 5 years at the same rate will yield a total of ₹2,76,084. This means you’ll earn ₹76,084 in interest.
For a ₹5,00,000 deposit, you can expect a total return of ₹6,90,210 over 5 years, with ₹1,90,210 being the interest earned.
While fixed deposits are a stable and reliable investment option, always make financial decisions after thorough research and consultation.
Disclaimer: All investment decisions should be made at your discretion. The information provided is for informational purposes only, and IEN assumes no responsibility for any financial outcomes.
