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 However, the FD must be locked in for three months before it can be withdrawn.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.