PNB FD Scheme: A Safe and Guaranteed Investment Option
If you’re looking for an investment that offers safe and guaranteed returns, fixed deposits (FDs) remain a reliable option. People, in particular, have a high level of trust in public sector banks because they carry very low risk. Punjab National Bank (PNB) is one such large public sector bank, offering FDs at good interest rates. You can open an FD with PNB for tenures ranging from 7 days to 10 years.
Here, we provide complete information about PNB’s 24-month (2-year) FD scheme. We’ll also learn how much return you’ll receive on investing ₹200,000, and the interest rates for different age groups.
PNB 24-Month FD: Interest Rates
PNB offers different interest rates to different categories of customers:
| Category | Annual Interest Rate |
|---|---|
| Regular Citizens | 6.40% |
| Senior Citizens (60+ years) | 6.90% |
| Super Senior Citizens (80+ years) | 7.20% |
The minimum amount to open this FD is ₹10,000.
How much will you get on investing ₹2 lakh?
Now the most important thing—if you make an FD of ₹2,00,000 for 24 months, how much will you get on maturity?
1. For a General Citizen
- Investment Amount: ₹2,00,000
- Interest Rate: 6.40%
- Total Interest: ₹27,080
- Maturity Amount: ₹2,27,080
2. For a Senior Citizen
- Investment Amount: ₹2,00,000
- Interest Rate: 6.90%
- Total Interest: ₹29,325
- Maturity Amount: ₹2,29,325
3. For a Super Senior Citizen
- Investment Amount: ₹2,00,000
- Interest Rate: 7.20%
- Total Interest: ₹30,689
- Maturity Amount: ₹2,30,689
Who Should Invest in This FD?
This FD is suitable for those who:
- Prefer low-risk investments
- Want to keep their money safe in a government bank
- Want guaranteed and fixed returns
Senior and super senior citizens receive higher interest rates, making this scheme even more beneficial for them.
Conclusion
This 24-month PNB FD scheme is a good option if you want stable and secure returns. It is simple, safe, and reliable, as it is operated by a government bank. If you want to build a secure fund for the future, this FD can prove useful for you.
Note: This information is for awareness purposes only. Consult a certified financial advisor before investing.
Frequently Asked Questions (FAQs)
Q1. What is the interest rate on a 24-month PNB FD?
General citizens: 6.40%, senior citizens: 6.90%, super senior citizens: 7.20%
Q2. What is the minimum amount required to open a PNB FD?
A minimum FD of ₹10,000 can be opened.
Q3. How much will be available on an FD of ₹2 lakh?
- General: ₹2,27,080
- Senior: ₹2,29,325
- Super Senior: ₹2,30,689
Q4. Can an FD be broken before maturity?
Yes, but the bank charges a penalty.
Q5. Is the interest earned on FDs tax-free?
Tax-saver FDs are eligible for tax exemption under Section 80C. Interest on other FDs is taxable.
