PNB FD Scheme : If you’re looking for an investment option with safe and guaranteed returns, fixed deposits (FDs) are a popular choice among investors. Public sector banks, in particular, are highly reliable because they involve virtually no risk. Punjab National Bank (PNB), a large public sector bank, offers attractive interest rates on savings schemes and FDs.
You can open an FD with PNB for tenures ranging from 7 days to 10 years.
In this article, we’ll provide you with complete information about PNB’s 24-month (2-year) FD scheme.
We’ll look at how much return you’ll receive if you invest ₹2,00,000, and the different interest rates for regular citizens, senior citizens, and super senior citizens.
PNB FD Scheme: Interest Rate on PNB 24-Month FD
PNB offers different annual interest rates depending on the depositor category.
| Category | Annual Interest Rate |
|---|---|
| Regular Citizens | 6.40% |
| Senior Citizens (60+ years) | 6.90% |
| Super Senior Citizens (80+ years) | 7.20% |
To open this FD, you need to deposit a minimum of ₹10,000.
How much return will you get on ₹2 lakh?
Now let’s look at the most important thing—if you invest ₹2,00,000 for 24 months, how much will you get at maturity?
For ordinary citizens
- Investment amount: ₹2,00,000
- Interest rate: 6.40%
- Total interest earned: ₹27,080
- Maturity amount: ₹2,27,080
For senior citizens
- Investment amount: ₹2,00,000
- Interest rate: 6.90%
- Total interest earned: ₹29,325
- Maturity amount: ₹2,29,325
For super senior citizens
- Investment amount: ₹2,00,000
- Interest rate: 7.20%
- Total interest earned: ₹30,689
- Maturity amount: ₹2,30,689
Who should invest in this FD?
- This FD plan is right for you if:
- You prefer low-risk investments.
- You want to keep your money safe in a government bank.
- You prefer fixed and guaranteed returns.
For senior and super senior citizens, this FD becomes even more beneficial as they receive higher interest rates than ordinary citizens.
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Conclusion
The PNB 24-month Fixed Deposit Scheme is a great option for those seeking stable and reliable returns.
Backed by a trusted government bank, it offers ease, safety, and attractive interest rates.
If you’re planning to build a secure fund for the future, this FD could be an excellent option.
Note: This article is for informational purposes only. It should not be considered investment advice. Please consult a certified financial advisor before making any investment decisions.
Q1. What is the interest rate on a 24-month PNB FD?
Regular individuals earn 6.40%, senior individuals earn 6.90%, and super senior individuals earn 7.20% annually.
Q2. What is the minimum amount required to open a PNB FD?
You can start an FD by depositing as little as ₹10,000.
Q3. How much will I get if I invest ₹2 lakh in this FD?
Regular individuals earn ₹2,27,080 upon maturity, senior individuals earn ₹2,29,325, and super senior individuals earn ₹2,30,689.
Q4. Can I withdraw money before the FD maturity period?
Yes, but PNB charges a penalty for premature withdrawal.
Q5. Is the interest earned on PNB FDs tax-free?
You can claim tax exemption under Section 80C for tax-saver FDs. However, the interest earned on other FDs is taxable.