PNB FD Scheme : If you are looking for a safe and guaranteed return investment option, then Fixed Deposits (FDs) still remain the top choice for most people. Especially when it comes to government banks, investors have more trust because the risk involved is minimal. One such major public sector bank is Punjab National Bank (PNB), which offers attractive interest rates on its savings and FD schemes. You can open an FD in PNB for a tenure ranging from 7 days to 10 years.
In this article, we will explain in detail about PNB’s 24-month (2-year) Fixed Deposit scheme. You’ll learn how much return you can earn if you invest ₹2,00,000, and how the returns differ for regular citizens, senior citizens, and super senior citizens.
PNB FD Scheme Interest Rates
PNB offers different interest rates on its 24-month FD, depending on the depositor category:
| Category | Annual Interest Rate |
|---|---|
| Regular Citizen | 6.40% |
| Senior Citizen (60+ years) | 6.90% |
| Super Senior Citizen (80+ years) | 7.20% |
You can start this FD with a minimum deposit of ₹10,000.
Return on ₹2 Lakh Deposit
Now let’s look at the most important part — how much return you’ll get if you invest ₹2,00,000 for 24 months in this FD scheme.
For Regular Citizens:
- Investment Amount : ₹2,00,000
- Interest Rate : 6.40%
- Total Interest : ₹27,080
-
Maturity Amount : ₹2,27,080
For Senior Citizens:
- Investment Amount : ₹2,00,000
- Interest Rate : 6.90%
- Total Interest : ₹29,325
-
Maturity Amount : ₹2,29,325
For Super Senior Citizens:
- Investment Amount : ₹2,00,000
- Interest Rate : 7.20%
- Total Interest : ₹30,689
-
Maturity Amount : ₹2,30,689
Who Should Choose This FD Scheme?
This scheme is ideal for you if:
- You prefer low-risk investment options.
- You like to keep your money safe in a bank.
-
You want a fixed and guaranteed return.
Senior and super senior citizens get additional interest benefits, which makes this scheme even more profitable for them.
Conclusion
PNB’s 24-month Fixed Deposit is an excellent option for investors seeking stable and reliable returns. The investment process is simple, the bank is government-owned, returns are guaranteed, and the interest rates are attractive. If you are planning to build a secure fund for the future, this FD can be a perfect choice.
Note: This article is for informational purposes only and should not be considered as investment advice. Please consult a financial advisor before making any investment decisions.
5 Frequently Asked Questions (FAQs)
Q1. What is the interest rate on PNB’s 24-month FD?
Regular citizens get 6.40%, senior citizens get 6.90%, and super senior citizens get 7.20% annual interest.
Q2. What is the minimum deposit amount for PNB FD?
You can start this FD with a minimum deposit of ₹10,000.
Q3. How much will I get on investing ₹2 lakh?
Regular citizens get ₹2,27,080, senior citizens get ₹2,29,325, and super senior citizens get ₹2,30,689 at maturity.
Q4. Can I withdraw money before maturity from PNB FD?
Yes, but premature withdrawal attracts a penalty charge by the bank.
Q5. Is there any tax benefit on PNB FD?
Only Tax Saver FDs qualify for deduction under Section 80C of the Income Tax Act. Interest earned on other FDs is taxable.