PNB Housing Finance FD Rates: Interest Slabs, Returns & Benefits

Key Takeaways
 

• PNB Housing Finance Fixed Deposit offers rates up to 7.10% per annum across various tenures available.
   
• Senior citizens receive an additional 0.25% PNB Housing Finance FD rates benefit on all deposits up to ₹1 crore only.
   
• The minimum lock-in period is three months, and premature withdrawal penalties apply after that period.

 Fixed deposits remain popular investment options for Indian investors today. They provide guaranteed returns with minimal risk involvement. PNB Housing Finance offers competitive fixed deposit schemes nationwide. 

These deposits suit both regular income and wealth goals. Senior citizens enjoy additional interest rate benefits on investments. The company maintains high safety ratings for investor protection.

For example, if you invest ₹1,00,000 for 24 months at a 7% annual rate, your maturity amount becomes approximately ₹1,14,490 under the cumulative scheme.

This blog explains PNB Housing Finance FD rates, features, eligibility, and investment procedures comprehensively.

PNB Housing Finance FD Rates

PNB Housing Finance Fixed Deposit offers competitive interest rates across various tenures:
 

Click here to know more about the interest rate. PNB Housing Finance FD rates vary based on tenure and payout frequency chosen.

Types of PNB Housing Finance Fixed Deposit Schemes

PNB Housing Finance offers various fixed deposit options to suit different financial needs:

• Cumulative Deposit: This scheme compounds interest annually throughout the tenure. The accumulated interest is paid at maturity with the principal amount. It helps depositors build a larger corpus over time. The minimum deposit required is ₹10,000 only.
• Non-Cumulative Deposit: Interest is paid at regular intervals to depositors. Payment frequency can be monthly, quarterly, half-yearly, or annually. This scheme provides a steady income stream. Monthly schemes require ₹25,000 minimum, while others need ₹10,000.
• Joint Fixed Deposit: You can open an account with multiple holders. Up to three joint holders are permitted. For non-cumulative deposits, the first applicant receives interest. The discharge authority lies with the first holder.
• NRI Fixed Deposit: Non-Resident Indians can invest in PNB Housing Finance Fixed Deposit. The maximum tenure available is three years. Interest and principal are credited to NRO accounts. Tax is deducted at source as per regulations.

PNB Housing Finance Fixed Deposit schemes provide flexible investment options for all depositor categories.

Features and Benefits of PNB Housing Finance Fixed Deposit

PNB Housing Finance Fixed Deposit offers attractive features for secure investments:

• High Safety Standard: CRISIL FAA+/Stable rating ensures timely repayment and safe interest returns.
• Higher Interest Rate: PNB Housing Finance FD offers competitive rates that provide better returns than regular savings.
• Benefits for Senior Citizens: Senior citizens get an extra 0.25% interest across all tenures for higher earnings.
• Loan Facility: You can avail loans against your fixed deposits. The loan amount reaches up to 75% coverage. This facility provides liquidity during financial emergencies.

PNB Housing Finance Fixed Deposit combines safety, attractive returns, and flexible features effectively.

Comparison of PNB Housing Finance FD Rates with Other Banks

Compare PNB Housing Finance FD rates with other housing finance companies:

PNB Housing Finance Fixed Deposit offers competitive rates across various tenure options available.

Bonus Tip: The RBI recently indicated that deposit rates may soften in the upcoming quarters as lending rates gradually reduce. Investors planning long-term deposits may benefit by locking in current rates before any downward revisions.

Eligibility Criteria & Required Documents for PNB Housing Finance FD Rates

Opening a PNB Housing Finance Fixed Deposit requires meeting specific eligibility conditions:

Eligibility Criteria

The minimum age requirement is 21 years only. Age must not exceed 70 years at maturity.

Required Documents for Resident Indians

Resident applicants must submit basic identification and verification documents before opening a PNB Housing Finance Fixed Deposit.

• One latest passport-size photograph
• Self-attested copy of PAN card (mandatory)
• Valid identity proof such as Aadhaar, Driving Licence, Voter ID, Passport, or NAREGA card

These documents help verify your identity and ensure smooth FD processing.

Required Documents for Non-Resident Indians

NRI applicants must provide a valid passport and visa-related documents along with address proofs.

• Self-attested copies of the first four and last four pages of the passport
• Valid work permit, employment visa, residence visa, or residence permit
• Valid overseas and Indian address proofs

These documents ensure proper verification of NRI applicants according to regulatory requirements.

PNB Housing Finance Fixed Deposit eligibility and documentation ensure a smooth investment process.

Tax Implications on PNB Housing Finance FD Rates 

Understanding tax rules helps you plan your PNB Housing Finance Fixed Deposit investments:

• Income Tax on Interest Earned: Interest earned from term deposits is subject to taxation. It falls under the Income from Other Sources category. Tax applies based on your applicable income tax slab.
• Tax Deducted at Source (TDS): Banks deduct TDS if annual interest exceeds ₹40,000. For senior citizens, the threshold limit is ₹50,000. TDS is deducted at source on applicable interest amounts.
• Preventing TDS Deduction: Depositors without taxable income can submit Form 15G. Senior citizens should use Form 15H for prevention. These forms help avoid TDS deduction at source.
• Tax-Saving Fixed Deposits: Tax-saving deposits allow deductions up to ₹1,50,000. This benefit falls under Section 80C provisions only. However, the interest earned remains taxable for depositors.
• NBFC Term Deposits: Unlike bank FDs, NBFC deposits lack tax-saving benefits. PNB Housing Finance Fixed Deposit suits wealth accumulation primarily. These deposits don't qualify for tax planning purposes.

PNB Housing Finance Fixed Deposit interest is taxable based on your income slab.

PNB Housing Finance FD Premature Withdrawal & Closure Rules

PNB Housing Finance Fixed Deposit has a minimum lock-in period. The lock-in period is three months from the deposit date. You cannot withdraw funds before the three months are completed.
 

These rules ensure transparency and help depositors understand how early withdrawal affects their returns.

How to Invest in PNB Housing Finance FD?

Opening a PNB Housing Finance Fixed Deposit account involves simple steps:

Procedure to Open an Account

Visit your nearest PNB Housing branch for applications. You can fill out an online application form too. Provide details like name, contact number, email, and city. Mention your FD amount and get doorstep assistance.

Step-by-Step Process

Step 1: Fill the Application Form

Make sure all details are filled in clearly and accurately before submitting your form. This helps avoid delays in opening your PNB Housing Finance Fixed Deposit.

What to fill in the application form:

• Enter your personal details such as name, address, and contact information.
• Provide your PAN and bank account details correctly.
• Mention the fixed deposit tenure in months.
• Add payment details such as cheque, draft, RTGS, or NEFT.
• Select the deposit type (cumulative or non-cumulative).
• Provide repayment instructions for the first applicant or the survivor.
• Fill in your taxation instructions accurately.
• Choose the mode for dispatching the FD certificate.
• Enter the bank details for repayment and add nominee information.
• Affix your latest colour passport-size photograph.
• Sign the form in the designated space.

Ensure accurate information in the form to help your FD get processed without any issues.

Step 2: Submit KYC Documents

Arrange all self-attested copies of KYC documents required. Submit PAN card, Aadhaar, and Voter ID copies.

Step 3: Submit Application

Submit the filled application form at the nearest branch. You can also submit documents to the company representative. Opt for doorstep assistance if you have chosen.

Step 4: Validation and Confirmation

Your FD will be booked upon validation completion. The certificate is dispatched to your given address promptly. An SMS confirmation will be sent to you.

PNB Housing Finance Fixed Deposit investment process is quick and convenient for depositors.

Conclusion

PNB Housing Finance Fixed Deposit provides secure investment options for depositors. It offers competitive PNB Housing Finance FD rates across multiple tenure periods. Senior citizens receive additional benefits on their deposits. 

The schemes suit both wealth accumulation and income needs. Tax implications apply based on your individual income slab. Premature withdrawal is permitted after the mandatory lock-in period.

FAQs on PNB Housing Finance FD Rates

Q1. Can I add a nominee to my PNB Housing Finance Fixed Deposit?

Yes. You can add a nominee at the time of opening the FD or update nominee details later by submitting a request form.

Q2. Does PNB Housing Finance offer doorstep service for opening an FD?

Yes. PNB Housing Finance provides doorstep assistance for collecting documents and completing the FD application process in many cities.

Q3. Will my FD automatically renew at maturity?

Yes, only if you choose the auto-renewal option. Otherwise, the FD amount will be credited to your registered bank account on maturity.

Q4. Can I open multiple FDs with different tenures and payout options?

Yes. You can open multiple deposits under your name and choose different tenures, payout frequencies, or deposit types for each FD.