Senior Citizen Bank FD Scheme : The Reserve Bank of India (RBI) has cut the repo rate by 1.00% this year. While this has made loans cheaper, it has also reduced FD (Fixed Deposit) interest rates. However, despite the reduction in interest rates, FDs are still offering attractive returns. Public sector bank Punjab National Bank (PNB) is offering excellent interest on fixed deposits to its customers. Today, we will look at a PNB FD scheme in which you can get a guaranteed fixed interest of ₹23,872 by depositing just ₹1 lakh.
Senior Citizen Bank FD Scheme : Punjab National Bank is offering 7.40% interest on FD
In Punjab National Bank, you can open an FD for a minimum period of 7 days and a maximum of 10 years. PNB, which is a government bank, is offering interest rates ranging from 3.00% to 7.40% on fixed deposits.
On its special 390-day FD scheme, PNB is offering:
- 6.60% interest to general citizens
- 7.10% interest to senior citizens
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7.40% interest to super senior citizens
On a 3-year FD, PNB is providing:
- 6.40% interest to general citizens
- 6.90% interest to senior citizens
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7.20% interest to super senior citizens
Deposit ₹1 lakh and get ₹1,23,872 at maturity
If you are a general citizen and invest ₹1,00,000 in a 3-year FD at Punjab National Bank, you will receive a total of ₹1,20,983 at maturity, which includes ₹20,983 as fixed interest.
If you are a senior citizen and invest ₹1,00,000 in a 3-year FD, the maturity amount will be ₹1,22,781, including ₹22,781 as fixed interest.
Similarly, if you are a super senior citizen and invest ₹1,00,000 in a 3-year FD at PNB, you will receive a total of ₹1,23,872 at maturity, which includes ₹23,872 as fixed interest.
Disclaimer
This article is written for informational purposes only. Before making any investment or taking any financial risk, please consult your financial advisor. India TV will not be responsible for any kind of loss or risk.