Fixed deposit is any investor’s first choice when they need safe and secure returns. The funds come in handy when you want to fulfil a financial goal, such as wedding, travel, house construction or purchase, buying motor vehicles, setting up a business, or any other crucial life goal.
What are the Advantages of Opening an FD Account?
An FD account offers the following advantages:-
- Easy FD Application Process – The FD application process is straightforward and easy. You can fill a short application form, attach a few documents along with the cheque, and submit the form.
- Online and Offline FD Application Process – You can submit an FD application both online and offline. Generally, the offline mode is more time-consuming and paper-intensive than the online mode.
- More Liquid than PPF, SCSS, PMVVY, or MIS – Unlike investments in government-guaranteed investment instruments like PPF, SCSS, PMVVY, or MIS, a fixed deposit is 100% liquid. Hence, you can withdraw the full amount whenever the need arises.
PNB Housing has, for over three decades, remained a preferred choice for millions of investors, as investors get a convenient FD application process, high returns, and other value-added benefits.
PNB Housing offers fixed deposits with attractive terms. The minimum amount of investment is INR 10,000, and anyone with a PAN Card and address proof can open an account from the convenience of their home.
Here are the top-5 features you can expect from a PNB Housing FD Account –
- Convenient FD Application Process
Whether you choose to invest online or offline, PNB Housing has a robust mechanism to satisfy your preferences.
If you prefer to invest offline, you need to collect the FD application form from the nearest branch office and fill it manually. You can then submit the filled FD application form with documents like PAN Card, address proof, and cheque to one of PNB Housing’s more than 70 branch offices in India. Alternatively, you may opt for the doorstep service delivery facility, where the company sends a representative to your registered address who helps you with the FD application process.
PNB Housing also offers a seamless online FD application process. You can visit the company’s official website and enter your full name, mobile number, email address, location, and FD amount and hit the ‘request a call back’ button. You can expect a call from a company authorised representative within 24 hours who will validate the details and send a representative to your registered address at the time of your preference.
Hence, irrespective of your location and physical condition, you can open an FD account with PNB Housing and reap benefits of the highest fixed deposit interest rates.
- High Returns
In recent years, there has been a steady decline in fixed deposit interest rates. PNB Housing offers you the opportunity to earn the highest fixed deposit interest rates.
You can choose between cumulative and non-cumulative mode of investment. The cumulative mode will suit you better if you want to fulfil a future financial goal. With PNB Housing fixed deposits, you can get a yield to maturity of up to 9.13%.
The non-cumulative mode is an apt choice for receiving a fixed income every month, quarterly, half-yearly, or annually. However, unlike cumulative deposits, the principal amount remains the same at the end of the term, as you are withdrawing the interest periodically.
- Top-Class Safety
Investors often have the misconception that company FDs are not as safe as bank term deposits.
As a fact, bank FDs are secured up to INR 5 lakh. If the bank winds up its operations, an investor can get only up to INR 5 lakh. In contrast, PNB Housing offers CRISIL FAA+ and CARE AA rated FDs, which are considered the safest in the industry.
When you combine PNB Housing’s three decades’ experience with its credit ratings, you can only wonder why it took you so long to keep yourself away from getting the highest fixed deposit interest rates.
- No TDS Deduction Up To INR 5,000
Generally, financial institutions deduct 10% TDS from the interest you earn from an FD, provided you have submitted your PAN details at the time of FD application.
In contrast, an FD application with PNB Housing also enables you to get no TDS deduction for interest income up to INR 5,000 every financial year. Hence, you can save more and earn a higher income from your investments.
- Automatic Renewal and Maturity
PNB Housing fixed deposits come with auto-renewal and auto-maturity facilities.
You can indicate your preference during FD application, and the amount will be credited to your bank account on maturity or renewed at the prevailing interest rate after maturity.
Hence, once you park your money at a PNB Housing fixed deposit, there is no need to fill fresh FD application form every time it matures.
Besides the highest fixed deposit interest rates, PNB Housing offers optimal safety, doorstep service, convenient maturity, and easy FD application process. Capture the best rates before it plunges further.