Wanting to park your surplus funds and see it grow? A Fixed Deposit (FD) account is all you need. FD is safe and guarantees decent returns, more than the savings account. The tenor ranges from 7 days to 10 years to suit long term and short term investment objectives. Plus, the loaning facility is readily available, should you need urgent funds anytime during the tenor.

Every public sector and private sector bank offers FD account, and so do finance companies. That means you have an overwhelming variety of options to choose from. But if you are keen on choosing only the best, PNB Housing Finance Fixed Deposit is an undisputed choice. The company offers the best FD rates across tenors, helping you build a robust corpus.

PNB Housing Finance Fixed Deposit offers both, cumulative and non-cumulative interest payout options. The cumulative interest payouts are available only upon maturity. But, non-cumulative interest payouts can be accessed monthly, quarterly, half-yearly or yearly, per your need. PNB Housing Finance offers higher interest rates across both payout options. Here’s a brief insight.

Table 1: Cumulative FD interest rates:

Tenor	Annual Interest Rate
1-year – 23 months	8.00%
2 years – 35 months	8.00%
3 years – 47 months	8.10%
4 years – 59 months	8.10%
5 years – 71 months	8.15%
6 years – 84 months	8.15%
10 years	8.00%

Table 2: Non-cumulative FD interest rates:

Tenor	Interest Rate Monthly	Interest Rate Quarterly	Interest Rate Half-yearly	Interest Rate Annually
1-year – 23 months	7.75%	7.80%	7.85%	8.05%
2 years – 35 months	7.80%	7.85%	7.90%	8.10%
3 years – 47 months	7.90%	7.95%	8.00%	8.20%
4 years – 59 months	8.05%	8.10%	8.15%	8.35%
5 years – 71 months	8.15%	8.20%	8.25%	8.45%
6 years – 84 months	8.00%	8.05%	8.10%	8.30%
10 years	7.95%	8.00%	8.05%	8.25%

As evident, longer tenors with cumulative interest payout options work best to increase your interest earnings. The rates are compounded, assuring better yield in the long term.

Types of FD accounts:

PNB HFL offers a fixed deposit account in three options, viz.:

1. Joint Fixed Deposit:

The Joint FD account is sharable by up to three members, including up to two minors. The first applicant receives the interest payout in both, cumulative and non-cumulative.

1. Corporate Deposits:

The Corporate FD account is available for businesses, municipal authorities, statutory bodies, and banks and other financial establishments. The account holder can expect best FD rates.

1. NRI Fixed Deposit:

As the name suggests, it’s exclusive for Non-Resident Indians living in any country. The NRI FD has a minimum of 3-year tenor and INR 10 lakh minimum deposit requirement

Why PNB HFL?

Yet to decide in favor of the PNB HFL fixed deposit account? Here’re a few more reasons to make you think otherwise.

• Wide range of tenors, ranging from 12 months to 10 years.
• INR 25,000 minimum deposit requirement for cumulative FD
• INR 10,000 minimum deposit requirement for non-cumulative FD
• Additional 0.25% interest rate for senior citizens
• Premature withdrawal available after the 3-month lock-in
• Loan facility available for up to 75% of the investment
• No TDS on deposits worth INR 5,000

Note that, PNB HFL FD accounts have CARE AAA and CRISIL FAAA/Stable ratings. That means your investment is safe and will grow steadily, irrespective of the tenor.