Private PNB FD Scheme For These People You Will Get Highest Return When Getting FD Than Any Other Bank

PTI By getting FD in PNB, you will get the highest return ever

In the midst of high inflation and worsening recession in the country and the world, everyone is looking for foreign purchase contracts with high returns. Banks like SBI, HDFC, ICICI, and Bank of Baroda also offer this, but amidst all this, PNB opened its fund and got the highest interest rate to date.

What’s the plan?

Punjab National Bank (PNB) on Friday said it will pay 7.85 percent interest annually on a 600-day private FD plan. This special interest rate scheme came into effect on October 19, 2022. This scheme is for seniors (60-80 years old) and seniors (80 years and over). Hereby, a lump sum of less than Rs. crore can be deposited.

Recently, banks have increased interest on mortgage contracts.

After the Corona epidemic, the Reserve Bank of India made a significant reduction in the repo rate. After that, the banks also lowered the interest rates offered on CFDs. However, to control the spiraling inflation, the Reserve Bank of India has increased the repo rate by 1.90 percent for four consecutive times. There is also the possibility of another significant monetary policy rally in December. After that, the banks also started increasing the interest rate on FD. An interest of 7.65 percent on FD is given by many major banks. At the same time, interest in the FD is given to seniors at an average of 8 percent.

Keep these things in mind before getting an FD

  1. Before you make an FD at any bank, decide how long you should take the FD. With this, you don’t have to roam anywhere when you need the money. You will also be able to get more interest from the bank.
  2. Compare interest before making an FD at any bank. This will help you get higher returns.
  3. Seniors get more benefits, so you can earn more interest by getting an FD in the parents’ name.
  4. If you file a 5-year FD application form, you will get an income tax exemption.
  5. Many banks offer the facility of withdrawing interest earned on deposit contracts. Check this out before doing the FD.
  6. Loan Facility: If you need money, you can get an FD loan. Find out the term and terms of the loan from the bank.

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