PNB Housing Finance is one of India’s leading Non-banking Financial Companies. The entity is involved in providing home loans and a multitude of other loans to eligible customers. Additionally, it also offers an attractive fixed deposit scheme at highly competitive interest rates.

If you’re looking for high returns without taking too much of a risk, you could consider investing in a PNB Housing Finance FD. Continue reading to find out all about the fixed deposit scheme offered by the entity including the various benefits you stand to gain from it.

Benefits of PNB Housing Finance FD

Wondering why you should invest your money in the PNB Housing Finance fixed deposit scheme? Here’s a quick overview of the various advantages that you get to enjoy.

● Safety and Security

The fixed deposit scheme from PNB Housing Finance has FAA+/Negative and AA/Stable ratings from two of India’s top credit rating agencies - CRISIL and CARE. With these high ratings, you can rest assured of the safety of your hard-earned money.

● Loan Against FD

PNB Housing Finance allows you to quickly avail a loan against the fixed deposit that you hold with them. You can get up to 75% of the deposit amount as a loan to meet your emergency fund requirements.

● Premature Withdrawal

This is one of the key benefits of PNB Housing Finance FDs that you get to enjoy. You can prematurely withdraw your FD at any point in time after 3 months of deposit creation.

● Nomination Facility

You can assign or change the nominee for your fixed deposit at any point in time by simply submitting a nomination form at any one of the branches of the entity.

● Auto-Renewal Facility

The scheme comes with an optional auto-renewal facility. When opted for, this feature automatically renews the deposit upon maturity, eliminating the need to do it manually. 

● Additional Interest Rate for Senior Citizens

PNB Housing Finance offers a special senior citizen FD interest rate on its fixed deposits. Senior citizens get to enjoy an additional rate of 0.25% per annum over and above the regular FD interest rates.

PNB Housing Finance FD Interest Rates

The interest rates offered by PNB Housing Finance on its fixed deposit scheme may vary depending on factors like the type of FD and the tenure. Here’s a closer look at the rates of interest offered by the NBFC.

Cumulative Fixed Deposits Up to ₹5 Crores

Non-Cumulative Fixed Deposits Up to ₹5 Crores

Note:

• • The rates of interest mentioned above are effective from 10.08.2022.
• • The interest rates are subject to change in accordance with the NBFC’s policies.
• • Senior citizens get an additional interest rate of 0.25% per annum over and above these rates.
• • Senior citizen FD interest rates are only applicable for deposits up to ₹5 Crores.

Eligibility Criteria and Documents Required for Opening a PNB Housing Finance FD

It is important to be aware of the different eligibility criteria and the list of documents to be submitted to open an FD with PNB Housing Finance. This allows you to be better prepared and hasten the deposit creation process.

Eligibility Criteria for a PNB Housing Finance FD

Any one among the following list of individuals and entities can open a PNB Housing Finance FD.

• • A resident Indian individual
• • A Non-Resident Indian (NRI) individual
• • An association
• • A trust
• • A club
• • A private limited or a public limited company
• • A co-operative society
• • A co-operative bank
• • A partnership firm

Documents Required for a PNB Housing Finance FD

The list of documents that you would have to submit may vary depending on whether you’re an individual or a non-individual. Read on for details on the list of documents you’d need.

Individuals

• • A self-attested copy of your PAN
• • A self-attested copy of an address proof document such as Aadhaar, driving licence or voter ID, among others
• • A latest passport size photograph

Associations, Trusts or Clubs

• • A copy of the trust deed
• • A copy of the entity’s registration certificate
• • A copy of the resolution passed by the entity approving the opening of a PNB Housing Finance FD
• • A copy of the entity’s PAN
• • A copy of entity’s address proof
• • Specimen signatures of the entity’s authorised signatories
• • A passport size photograph, PAN and address proof copies of the entity’s authorised signatories

Companies, Co-operative Societies or Co-operative Banks

• • A copy of the Memorandum and Articles of Association of the company or the society’s bye-laws
• • A copy of the resolution passed by the entity approving the opening of a PNB Housing Finance FD
• • Specimen signatures of the entity’s authorised signatories
• • A passport size photograph, PAN and address proof copies of the entity’s authorised signatories

Partnership Firms

• • A copy of the partnership deed or declaration of partnership
• • Names and addresses of the partners
• • Specimen signatures of the partners
• • A copy of the partnership firm’s PAN

How to Open a PNB Housing Finance FD

Opening a fixed deposit with PNB Housing Finance is a simple and quick process. All that you have to do is follow the steps outlined below.

• • Visit the website of PNB Housing Finance.
• • Under the ‘Fixed Deposit’ option, click ‘Apply Now’.
• • Fill the ‘Fixed Deposit Enquiry Form’ and click on the ‘Request A Call Back’ button.
• • A representative from the NBFC will get in touch with you to schedule a visit to collect the necessary documents from you.
• • Your PNB Housing Finance FD will be booked within 48 hours from the time of submission of the documents.

Alternatively, you can also choose to visit any one of the branches of PNB Housing Finance in your city to open an FD. Simply submit the duly-filled application form along with all the necessary documents and the deposit amount with the branch representative. Your request will be processed and your FD will be booked within a few days.

As you can clearly see, investing in a PNB Housing Finance FD is one of the best ways to get a good return on your investment. And if you’re a senior citizen, you get to enjoy an additional perk in the form of a slightly higher rate of interest too.

Disclaimer: This article is published in association with PNB Housing Finance and not created by TNM Editorial. Please do your own research before using any financial services and seek independent legal/financial advice if you are unsure.