Earn interest up to 7.80% p.a. by investing in a PNB Housing Finance | FAA+ by CRISIL and AA by CARE

  • Overview
  • Fixed Deposit Calculator
  • Interest Rates and Charges

Fixed deposits are vital to your saving strategies, since setting your funds aside for financial security is crucial in times of emergencies. Moreover, they also help you steadily and safely multiply your corpus. You can bank on PNB Housing Finance, a Non-banking Financial Company, for fixed deposit savings. This institution offers attractive interest rates and flexible tenors to maximise savings and returns from your PNB Housing Finance FD. 

Features of PNB Housing Finance FD

The PNB Housing Finance has features that greatly impact your maturity and interest rates returns, and these features can make PNB Housing Finance FDs the saving option you can trust.

 

  • High Safety and Credit Rating

CRISIL and CARE provide NBFCs with ratings which signify the NBFC’s credit quality and safety. PNB Housing Finance has received a CRISIL and CARE rating of FAA+ and AA respectively, showcasing the trustworthiness of PNB Housing FDs.

 

  • Attractive Interest Rates

PNB Housing Finance FD offers interest rates ranging from 6.31% to 7.30% through cumulative and non-cumulative fixed deposits, assuring higher returns. Furthermore, senior citizens get additional 0.25% to 0.50% on the regular interest rates. 

 

  • Longer Tenor

PNB Housing Finance FD offers you tenors ranging from 12 months to 120 months which offers you the opportunity to make the right decision depending upon your financial goals. Moreover, a higher tenor allows you higher wealth generation for your long-term financial aspirations. 

 

  • Easy Renewal

Once your PNB Housing FD is close to maturity, you can choose between automatic renewal and withdrawal. You can give PNB Housing Finance a standing instruction of automatically renewing your FD by submitting the deposit certificate with other documents and filling out the renewal form provided by PNB Housing Finance. 

Why Invest in a PNB Housing Finance Fixed Deposit

Saving in a fixed deposit with PNB Housing Finance has many advantages that can help you secure your funds for a brighter financial future. Following are the benefits of booking a PNB Housing fixed deposit. 

 

  • Start Small

The starting deposit amount for a PNB Housing Finance FD is ₹10,000, helping you start smaller if you’re starting your saving and investing career. Additionally, the low deposit amount opens the arena for many to invest regardless of how low or high your saving/investing capacity is. 

 

  • Assign Nominee

Should a PNB Housing Finance FD account holder pass away before the maturity of the fixed deposit, a nominee, assigned during the booking of the account, will be given automatic ownership of the fixed deposit account and the returns earned from it. 

 

  • Withdraw Before Maturity

PNB Housing Finance allows you to withdraw your funds from a PNB Housing FD before the maturity date of the account. Additionally, in the event of the account holder's demise, the nominee is given the choice to continue the FD or to withdraw the full amount. 

 

  • Acquire Loan Against FD

You can also take a loan through your PNB Housing Finance FD. Once you become an FD account holder with PNB Housing Finance, you are eligible to acquire 75% of the deposit amount as a loan against your FD. 

Taxation on PNB Fixed Deposit

All earning individuals are liable to contribute a certain portion of their income to taxes. According to the Income Tax Act of 1961, returns earned from FDs are considered alternate incomes and hence, PNB Housing Finance FDs shall be taxed. 

 

If your PNB Housing Finance fixed deposit earns ₹40,000 and above, a tax percentage of 10% - 20% is imposed on the acquired capital. However, the limit for senior citizens stretches up to ₹50,000, beyond which they are liable to pay 10% to 20% tax. 

 

However, if your FD returns are less than ₹5,000, you don’t need to pay any tax for your PNB Housing Finance FD earnings. 

Eligibility Criteria & Documents Required

In order to book a fixed deposit with PNB Housing Finance, you need to meet a set of eligibility criteria, along with having documents mandatory to start your saving journey with PNB Housing Finance. Following are the eligibility criteria and required documents. 

Eligibility Criteria to Book a Fixed Deposit Account with PNB Housing Finance 

The following categories of individual and non-individual entities are eligible for a PNB Housing FD. 

 

  • Indian-resident Individuals

  • Non-resident Indians

  • Associations

  • Firms

  • Co-operative Banks

  • Joint Investors

  • Trusts

  • Clubs

  • Co-operative Societies

  • Public/Private Ltd. Companies

Documents Required to Book a Fixed Deposit Account with PNB Housing Finance 

1. Documents Required for Individual 

 

Following are the documents required for individuals investing in a PNB Housing Finance FD.

 

  • Passport-sized Photograph

  • Identity Proof (Self-attested)

  1. Passport

  2. PAN Card

  3. Driving Licence

  4. Voter ID

  5. Aadhaar Card

  6. NREGA Job Card

  • Address Proof (Self-attested)

  1. Driver’s Licence

  2. Aadhaar Card

  3. Passport

  4. Property or Municipal Tax Receipt

  5. Utility Bills

2. Document Required for Hindu Undivided Family (HUF)

 

Given below are documents needed for an HUF for booking a PNB Housing FD.

 

  • PAN Card (Self-attested)

  • HUF Declaration Deed

  • Bank Statement of HUF

3. Document Required for Partnership Firm

 

A partnership firm is required to submit the following documents for a PNB Housing FD. 

 

  • Registration Certificate

  • Partnership Deed

  • Authorised Signatory List

  • ID and Address Proof Authorised Signatories

4. Document Required for Joint Stock Companies

 

Joint Stock Companies need to submit the following documents to book a PNB Housing Finance FD. 

 

  • Incorporation Certificate 

  • Memorandum and Articles of Association

  • PAN Copy of the Company

  • Resolution from Board of Directors and Power of Attorney

  • Authorised Signatory’s ID Proof and Address Proof

How to Book a PNB Housing Finance FD

The PNB Housing Finance FD offers guaranteed and attractive returns zhe process of booking an FD is seamless. Here’s how you can complete it with no hassles. 

 

  • Compare Current Rates

Compare the current interest rates on the basis of the category and type of FD, and the tenor since this analysis could assure maximum savings and returns through your PNB Housing Finance FD.

 

  • Choose Tenor

You can choose the tenor of your PNB Housing Finance FD which decides your FD’s maturity date. Furthermore, the tenor heavily impacts the returns you earn through the interest amount.

 

  • Pick Payout Schedule

Choose between a cumulative or non-cumulative payout frequency. You must decide whether you’d like to receive the entire maturity amount in a lump sum at the end of tenor or you’d like to receive the payout on a monthly, quarterly, half-yearly or yearly basis. 

 

  • Select Deposition Mode

Pick a mode of deposit either on an online payment platform or through cheque, demand draft, cash, etc. This depends upon whether you are booking the PNB Housing Finance FD online or visiting a PNB Housing Finance branch. 

FAQs

  • ✔️Is premature withdrawal of PNB Housing Finance FD allowed?

    Yes, you may make a premature withdrawal of a PNB Housing Finance FD.

  • ✔️Can I extend my PNB Housing Finance FD?

    Yes, you can extend- the tenor of your PNB Housing Finance FD through the NBFC’s facility of auto-renewal of FDs.

  • ✔️Can I avail a loan against my PNB Housing Finance fixed deposit?

    Yes, you may acquire a loan against your PNB Housing Finance fixed deposit. You can borrow up to 75% of the deposit amount of your FD.

  • ✔️What are the types of forms used to book a PNB Housing Finance FD?

    The online application process requires you to fill only an application form along with submitting other documents. All you must do is submit the application form, KYC documents and a cheque/draft at a PNB Housing Finance branch. 

  • ✔️Is TDS deducted on the PNB Housing Finance FD?

    Yes, tax is deducted on PNB Housing Finance FD returns. If you earn ₹40,000 (₹50,000 for senior citizens) and above in FD interest returns, you are liable to pay tax starting at 10% (PAN holders) or 20% (absence of PAN). However, a tax liability is the least of your worries if your FD returns are less than that of ₹5,000 p.a.

  • ✔️Does the PNB Housing Finance FD come with a nomination facility?

    Yes, the PNB Housing Finance FD provides you with a nomination facility. In case of the demise of the FD holder, the company will automatically transfer the ownership of the FD savings and its returns to a nominee assigned at the inception of the fixed deposit.

  • ✔️What is the minimum tenor of the fixed deposit offered by PNB Housing Finance?

    The minimum tenor of a PNB Housing Finance Fixed Deposit is of 12 months.

  • ✔️Is it safe to invest in PNB Housing Finance fixed deposits?

    Yes, it is safe to invest in a PNB Housing Finance fixed deposit. PNB Housing Finance offers you consistent interest rates which assures you steady returns and wealth generation despite market fluctuations. Additionally, PNB Housing Finance has been rated FAA+ and AA by CRISIL and CARE respectively, making the PNB Housing Finance FD a trustworthy savings tool.

  • ✔️What are the extra benefits for senior citizens on investing in PNB Housing Finance FD?

    The FD interest rates for senior citizens are 0.25% - 0.50% higher than the regular interest rates for PNB Housing Finance FDs. While others need to pay 10% and above in taxes on ₹40,000 and more in FD returns, senior citizens aren’t required to do so until their interest returns touch ₹50,000 p.a.

  • ✔️Who can invest in PNB Housing Finance FD?

    Indian-resident individuals, non-resident Indians, associations, firms, co-operative banks, joint investors, trusts, clubs, co-operative societies and public/private limited companies can book a PNB Housing Finance FD.