Fixed Deposits (FDs) are the most dependable and favoured investment option available for investors who are averse to invest their funds in high-risk financial instruments like mutual funds or equity. FDs enable you to handle your economic risks and help accomplish your goals sought for various stages of your life. These could include guarding your child’s future, their higher education and marriage, or using it as a hedge against unforeseen expenditures.
Fixed deposit facilities extended by Punjab National Bank Housing are among the most reliable investment alternatives available in the present times. At the very time, PNB Housing Finance additionally advances the most suitable fixed deposit plans in India. Mentioned below are the top factors that make PNB Housing Finance FD a trusted investment option.
- A history of credibility
Punjab National Bank Housing Finance Limited holds an extended history of client gratification. Established in 1988, it has completed more than 30 years in the banking industry and created a substantial name for uprightness.
This financial institution has gained numerous accolades acknowledging its superiority in the NBFC sector, such as the ‘Housing Finance Company of the Year’. Moreover, this financial institute gets promoted by the Punjab National Bank, established in 1894 and held by the Central Government.
- High-security promise
PNB Housing Finance’s FD scheme has been accredited FAAA/Negative by the top credit rating agency, CRISIL. This rating betokens that the deposits made by the customers are remarkably safe regarding repayment of the principal and interest amount. With a fixed deposit by PNB Housing Finance, you can remain assured that your money remains preserved.
- Excellent Loan facility
If you own an urgent requirement for liquidity, you can receive a loan against your FD made with Punjab National Housing Finance. When applying for a loan against your fixed deposit, you are eligible for receiving a loan up to 75% of the cumulative principal deposit at the best FD interest rates.
- Early cancellation
By investing in the PNB Housing Finance FD scheme, you own the alternative of early withdrawal from your fixed deposit account at any point post three months from the moment of deposit. This warrants that you do not meet any financial problems. However, it is beneficial to hold your investment for the entire term, as an early withdrawal leads to an interest rate penalty.
- Nomination Facility
With PNB Housing Finance Fixed Deposits, you get a nomination facility. Under this nomination facility, your beneficiary will receive the principal and interest amount in case of your unfortunate demise.
- Building a high investment corpus
The perfect blend of protection and returns on investments presented by FD make them an excellent option for creating a corpus at reduced risk. One of the means to do this is to pick a cumulative FD with a 10-year duration and let the interest rates increase over the years. This power of compounding will warrant that your money grows posthaste without any unnecessary contingencies. Also, this is an excellent strategy when you wish to save funds for your long term goals.
To sum up, we can assuredly say that by investing in a Fixed deposit scheme by the PNB Housing Finance, you can receive the best returns on your investment to keep yourself and your loved ones guard against all unforeseen financial emergencies.