In a strategic move to provide compelling investment avenues, PNB Housing Finance has launched a time-limited promotion for its fixed deposits (FDs), featuring enhanced interest rates tailored specifically for senior citizens. The promotion, valid until March 31, 2024, aims to offer an enticing proposition for investors seeking secure and rewarding financial instruments.
Under the revised interest rates, senior citizens can avail themselves of an impressive 8.30% per annum on FDs, providing an attractive option for wealth expansion. Individuals below 60 years of age are not left behind, with a competitive interest rate of 8% per annum, catering to a diverse investor base.
Girish Kousgi, the Managing Director and CEO of PNB Housing Finance, emphasized the importance of fixed deposits as a secure investment tool. He expressed enthusiasm about the limited-period promotion, highlighting its potential to encourage investors to cultivate healthy financial habits aligned with their long-term goals.
The enhanced interest rates are applicable to both fresh and renewed fixed deposits, with a minimum deposit amount set at ₹10,000. This flexibility ensures accessibility for a broad spectrum of investors, promoting inclusivity in financial planning.
Key Features of the Limited-Time FD Promotion:
- Competitive Interest Rates: Senior citizens benefit from an exclusive interest rate of 8.30% per annum, while individuals below 60 years enjoy a robust 8% per annum.
- Validity Period: The promotion is applicable to all fresh and renewed fixed deposits made before March 31, 2024, offering a time-limited opportunity for investors.
- Minimum Deposit Requirement: With a modest minimum deposit amount of ₹10,000, the promotion ensures accessibility for a wide range of investors.
- Secure Wealth Expansion: Fixed deposits remain a favored investment choice, providing a secure avenue for wealth expansion, especially for senior citizens seeking reliable sources of income.
Why Senior Citizens Prefer FDs:
Elevated Interest Rates: Senior citizens commonly receive increased interest rates on FDs compared to the general public, providing an additional incentive for secure investments.
Tax Advantages: The promotion aligns with tax-saving goals, as senior citizens can enjoy exemptions on interest income up to Rs. 50,000 per year under Section 80TTB of the Income Tax Act.
Flexibility with Early Withdrawal: Certain FDs offer flexibility with premature withdrawals, albeit subject to potential penalties, catering to unforeseen financial requirements.
Hassle-Free Renewal: FDs can be configured for automatic renewal upon maturity, streamlining the process and ensuring a continuous avenue for interest earnings.
The limited-time FD promotion underscores PNB Housing Finance’s commitment to delivering innovative and customized financial solutions. By catering to the diverse needs of investors, particularly senior citizens, the company aims to encourage sound financial planning and provide a secure path for future financial goals. As the financial landscape evolves, PNB Housing Finance continues to adapt and offer solutions that resonate with the dynamic needs of its investor base.
