Punjab National Bank offers a special 24-month fixed deposit scheme designed for new customers and existing customers. As interest rates across all banks continue to be very competitive, the latest FD alternative designated by Punjab National Bank ensures a definite holding period with guaranteed earnings.
Special Offer
The newly launched 24-month FD scheme offers higher interest rates than regular FD plans. In this context, the scheme is designed to optimize returns over a short two-year period, which is suitable for salaried individuals, old-age citizens, and generally conservative investors. Trade-offs between safety, liquidity, and profit are being forged by the bank through this limited-period offer.
Sure of Proposals and Benefits
In fact, under this scheme, PNB is offering higher interest rates for general customers, yet senior citizens receive added rate advantages. The exact rates, of course, may vary due to customer categories or deposit amount but they shall ensure that there is no risk of loss to the deposit collection base. Investment is also supported with options for reinvestment that would make the interest amount grow throughout the tenure for a maximum return on the same.
Eligibility, Minimum Amount, and Conditions
Special FDs are open to individual depositors, joint owners, senior citizens, and minors under tutelage. To encourage participation from a wider populace, the deposit amount remains low, yet an upper limit allows for the smaller as well as larger investor. Premature withdrawal is allowed, albeit subject to a nominal penalty as per rules of the bank; currently, this amounts to 1%. And the depositors, apart from that, have the freedom to select the type of payout mode, i.e. cumulative or non-cumulative, which depends on their individual financial needs.
Why the FD Scheme Concerns Investors
Fixed deposit has remained a classic example of easy investment solutions through times of global economic scares and choppy markets. In opening a fixed deposit account for 24 months, PNB enriches the best of yields together with security, which is ideal for short term financial planning – say, for a child’s education fund, marriage expenses, or building an emergency fund. Those imagining riskless appreciation are attracted to such a scheme among fixed deposits.