PNB FD Scheme : If you are looking for a safe and guaranteed return investment option, then Fixed Deposit (FD) is still one of the most preferred choices among people. Especially, people trust government banks the most when it comes to FD because the risk involved is almost negligible. Punjab National Bank (PNB) is one such large government bank that offers attractive interest rates on savings schemes and fixed deposits. At PNB, you can open an FD for a period ranging from 7 days to 10 years.
Today, we will give you a detailed explanation of PNB’s 24-month (2 years) Fixed Deposit scheme. We will find out how much money you will receive at maturity if you invest ₹2,00,000. Along with that, we will also understand how much interest is offered to general citizens, senior citizens, and super senior citizens.
PNB FD Scheme : How much interest is offered?
PNB provides different interest rates on its 24-month FD based on customer category:
| Category | Interest Rate (per annum) |
|---|---|
| General Citizen | 6.40% |
| Senior Citizen (60+ years) | 6.90% |
| Super Senior Citizen (80+ years) | 7.20% |
The minimum deposit required to open this FD account is ₹10,000.
How much return will you get on a deposit of ₹2,00,000?
Now the most important information — if you invest ₹2,00,000 for 24 months, how much will your money grow by maturity?
For General 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 is this scheme best for?
This scheme is ideal for you if:
- You want low risk investment
- You prefer to keep your money safe in a bank
-
You want a fixed and guaranteed return
Senior and Super Senior Citizens receive extra interest, which makes this FD an even better deal for them.
Conclusion
PNB’s 24-month Fixed Deposit is a good option for people who want stable and trustworthy returns. The investment process is simple, the bank is government-backed, returns are guaranteed, and the interest rate is attractive. If you are planning to build a secure fund for the future, then this FD can be an excellent choice.
Note: This article is only for informational purposes and should not be considered as financial advice. It is recommended to consult a financial advisor before making any investment.
5 FAQs
Q1. How much interest does PNB offer on a 24-month FD?
PNB offers 6.40% for general citizens, 6.90% for senior citizens, and 7.20% for super senior citizens annually.
Q2. What is the minimum amount required to open a PNB FD?
You can start an FD with a minimum amount of ₹10,000.
Q3. How much will I get after maturity if I invest ₹2,00,000?
General citizens will receive ₹2,27,080, senior citizens ₹2,29,325, and super senior citizens ₹2,30,689.
Q4. Can I withdraw my PNB FD before maturity?
Yes, but the bank charges a penalty for premature withdrawal.
Q5. Is tax exemption available on PNB FD?
Tax-saving FD qualifies for deduction under Section 80C, but the interest on other FDs is taxable.