Although a fixed deposit scheme is way more reliable than some of the market-linked investment options, not every plan is created alike. Therefore, if you are into FDs and planning to put your hard-earned money is a secure and credible fund, the PNB Housing Finance Fixed Deposit scheme is the best one to consider, especially in 2020.

Why this FD is your best bet in the Post-Covid19 World?

2020 has been a year of financial irregularities. However, if you have survived the juggernaut till now, it is an opportune moment to make categorized, safe, and productive investments. This is why investing in the mentioned fixed deposit account is recommended, considering the perfect balance it strikes between fund safety and appreciation.

Here are some of the reasons why the PNB Housing Finance fixed deposit is a productive option to rely on:

  1. Flexible Tenure

Fixed deposit schemes offered by PNB Housing Finance can be segregated into diverse tenures. While you can always opt for a smaller lock-in period of 12 months for minimal returns, a 10-year investment module is also supported, thereby assisting with tax savings and appreciative growth.

  1. Flexible Deposits

PNB-backed fixed deposit scheme doesn’t come with an upper investment limit. Moreover, you can start investing by setting aside 10,000 rupees as the minimum amount.

  1. Competitive FD Interest Rates

When it comes to the FD interest rates, PNB housing finance comes forth with some of the best slabs which are also reliant on the investment tenure. The basal FD rate is fixed at 6.20 percent which is still more than what certain banks and NBFCs offer. However, the rate goes up to 6.95 percent for extended investment tenure, ranging between 60 to 71 months.

Regardless of the interest rate offered on the given policy, senior citizens get an additional .25 percent on every plan or slab. However, before investing, it is necessary to clear out the tenure-based ambiguities with PNB Housing Finance.

  1. Added Perks

FD plans marketed by PNB Housing Finance come with a host of desirable perks, including the facility to nominate and renew automatically upon maturity. Moreover, you can always get the same insured by the third-party service provider as this HFC fixed deposit scheme is rated highly by the certifying authorities.

  1. Seamless application

Opening an FD account at PNB Housing Finance is probably the easiest as you need not lose sleep over the speed of application and document arrangements. As a rule of thumb, you need to accommodate the latest photograph, age proof, and even proof of residence to get the process underway.

  1. Decent FD Interest rates on premature withdrawals

FDs are meant for emergencies and in case you want to make a premature withdrawal as per your financial stead, you are expected to get a 4 percent interest rate for less than 6 months.

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In addition to the mentioned perks and benefits, fixed deposit schemes offered by the PNB Housing Finance also makes you eligible for a loan at a decent interest rate of up to 7.7 percent. Therefore, if you are looking for a ready investment option, the PNB Housing Finance Fixed Deposit scheme is a worthy option to consider.