Are you looking for secure yet high-return investments? If yes, the Punjab National Bank (PNB) Fixed Deposit (FD) Scheme would be the best option for you! Attractive interest rates, flexible tenures, and solid safety – this government-backed FD scheme is about growing your money with zero risk.
PNB FD Scheme Overview
The PNB Fixed Deposit is a safe investment scheme where you can gain guaranteed returns on investing a lump sum for a fixed time. The scheme permits a tenure of a range from 7 days to 10 years. The longer you invest, the better your returns will be. The minimum investment amount is ₹1,000, while the maximum is anything you wish to invest! PNB FD Interest Rates (2024)
Here is a summary of the current interest rates for PNB FDs:
Tenure Interest Rate (%)
- 7 Days – 399 Days 6.80%
- 401 Days – 2 Years 6.80%
- 2 Years – 3 Years 7.00%
- 3 Years – 1205 Days 6.50%
Plus, an additional 0.50% interest for senior citizens on the rates mentioned above!
How Much Can You Earn in PNB FD? (With Examples)
Are you wondering how much profit is possible? Let’s take the explanation further with real examples:
Investment of ₹1 Lakh for 3 Years
- Interest Rate: 7%
- Total Maturity Value: ₹1,23,144
- Interest Earned: ₹23,144
Investment of ₹2 Lakhs for 3 Years
- Total Maturity Value: ₹2,46,288
- Interest Amount: ₹46,288
Investment of ₹3 Lakhs for 3 Years
- Total Maturity Value: ₹3,69,432
- Interest Earned: ₹69,432 (Just in interest!)
What would it be like to earn an easy ₹70k without even the least risk?