Latest News
-
Mandatory Testing for Indian Spices Destined for Singapore, Hong Kong After Ban -
TRAI Advocates for Enhanced Telecom Infrastructure Sharing Among Licensees -
LTIMindtree Reports Slight Q4 Profit Dip, Optimistic About Upcoming Growth -
Axis Bank Announces Q4 Net Profit at Rs 7,599 Crore Amid Deposit Accretion Worries -
hBits Expands to Pune with CyberCity Magarpatta Acquisition, Eyes Investment Opportunities -
India's First Green Hydrogen Pilot Project Goes Live at Nathpa Jhakri -
DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared -
RBI Halts New Customer Onboarding at Kotak Mahindra Bank Over IT Compliance -
Macrotech Developers' Annual Profit Triples Despite Q4 Dip -
DoT Engages TRAI for Equitable Satcom Spectrum Allocation Guidelines
This AA Rated Housing Finance Company Is Offering Up To 7.1% Interest On FD To Senior Citizens
PNB Housing Finance Ltd. is one of India's leading Housing Finance company with a presence in major cities. The company along with housing related facilities also offers Fixed Deposit Facilities to its customers. The company offers lucrative FD rates, up to 6.86% to regular and 7.10% to senior citizens on a tenure of 120 months under the cumulative option. The company also offers Non-cumulative FD on a monthly, quarterly, half-yearly, and annual basis. The interest rates offered under the non-cumulative option vary based on the periods. The company offers higher FD rates compared to many private and public sectors bank operating in India. The FD offered by the company is safe as it is rated AA and FAA+ for its long term deposits and CRISIL A1+ for short term deposits by the rating agency CRISIL.
The company offers FD on single deposits for deposits up to Rs 5 Crore. The current interest rate offered by the company is with effect from 05 January 2022
Cumulative Fixed Deposits
| Tenure (Months) | Interest Rates (p.a.) | Tentative yield to maturity |
|---|---|---|
| 12 - 23 | 5.75% | 5.75% |
| 24 - 35 | 6.15% | 6.34% |
| 36 - 47 | 6.60% | 7.05% |
| 48 - 59 | 6.70% | 7.40% |
| 60 -71 | 6.85% | 7.85% |
| 72 - 84 | 6.85% | 8.14% |
| 120 | 6.85% | 9.40% |
Non-Cumulative Fixed Deposits
| Tenure (Months) | Monthly | Quarterly | Half Yearly | Annual |
|---|---|---|---|---|
| 12 - 23 | 5.60% | 5.63% | 5.66% | 5.75% |
| 24 - 35 | 5.98% | 6.01% | 6.05% | 6.15% |
| 36 - 47 | 6.40% | 6.44% | 6.49% | 6.60% |
| 48 - 59 | 6.50% | 6.53% | 6.59% | 6.70% |
| 60 -71 | 6.64% | 6.68% | 6.73% | 6.85% |
| 72 - 84 | 6.64% | 6.68% | 6.73% | 6.85% |
| 120 | 6.64% | 6.68% | 6.73% | 6.85% |
Premature withdrawal & applicable Interest Rates by the Company
The Fixed Deposits offered by the PNB Housing also offer the provision of premature closer. However, the FD must be locked in for three months before it can be withdrawn. The interest rate charged, however, would be lower than the agreed-upon FD interest rate.
The interest rate for premature withdrawals is applicable on the fixed deposit made within six months from the date of deposit, interest paid is at 4% per annum. For premature withdrawals made after six months, interest will be paid at 1% less than the FD interest rate applicable on a public fixed deposit of the period for which the deposit was held.
