Punjab National Bank (PNB) has launched its 2-Year Fixed Deposit scheme offering a competitive 8% return. Fixed Deposits are a safe investment choice for individuals seeking guaranteed income. The scheme targets both new and existing customers looking for stable, medium-term savings options. With capital protection and assured interest, the FD is ideal for conservative investors.
Eligibility Criteria for PNB 2-Year FD
The 2-Year FD is available to resident Indian individuals, joint account holders, minors with guardian consent, and senior citizens. Both new and existing PNB customers can apply. Proper KYC documentation is mandatory to open the FD. The scheme is designed to be accessible for small and large investors alike.
Interest Rate and Payout Details
The PNB 2-Year FD offers an 8% annual interest rate, paid at maturity or as per the chosen payout frequency. Senior citizens may receive additional interest benefits. The interest is compounded quarterly for reinvestment options or credited monthly for recurring income. This structure ensures both flexibility and optimal returns for investors.
Benefits of Investing in PNB 2-Year FD
Investing in this FD offers guaranteed returns, minimal risk, and easy liquidity after maturity. The scheme also provides safety of principal since it is backed by a reputed government bank. Investors can use the FD as collateral for loans. Tax benefits are available under certain conditions, making it a versatile choice for financial planning.
PNB 2-Year FD Scheme Overview
| Feature | Details |
|---|---|
| Tenure | 2 Years |
| Interest Rate | 8% p.a. |
| Eligibility | Resident Indians, Senior Citizens, Minors (with guardian) |
| Payout Options | Monthly, Quarterly, or Maturity |
| Risk Level | Low (Bank Guaranteed) |
This table provides a clear snapshot of the key details for the PNB 2-Year Fixed Deposit scheme.
How to Apply for the FD
Applications can be submitted online through PNB net banking or mobile banking platforms. Alternatively, investors may visit a PNB branch to open an FD account. Required documents include identity proof, address proof, and PAN details. The process is straightforward, ensuring quick account activation.
Conclusion
The PNB 2-Year FD offering 8% returns is an attractive option for conservative investors seeking safety and predictable income. With easy eligibility, flexible payout options, and government-backed security, it remains a reliable choice for medium-term financial planning. Investors should review terms before applying to maximize benefits.
Disclaimer: This article is for informational purposes only. Interest rates, eligibility, and scheme terms are subject to change by Punjab National Bank and official notifications. Investors should confirm details before making deposits.