Punjab National Bank (PNB) came out with its exclusive 444-day Fixed Deposit (FD) scheme where attractive interest rates are offered to depositors who are after short-term but high-yielding investments. This is for those who want to safely park their money and be assured of a pre-determined income.
Key Features of the PNB 444-Day FD
The 444-day FD scheme by PNB concerns customers investing for a particular tenure of 444 days with somewhat higher interest-oriented with respect to a regular term deposit. This program fits well with those aiming for a short-term deposit at better returns.
- Tenure: 444 days exactly
- Interest Rates: Competitive rates for both ordinary citizens and senior citizens
- Minimum Deposit: ₹ 1,000 (depends on the branch)
Maximum Deposit: No upper limit, as per bank rules
Premature Withdrawal: Permitted but may involve penalty charges.
PNB 444 Days FD Interest Rates
The bank is currently offering attractive interest rates in this special scheme:
| Category | Interest Rate (Approx.) |
|---|
| Regular Citizens | 7.25% p.a. |
| Senior Citizens | 7.75% p.a. |
Maturity and Returns
For an investment of ₹1,00,000 at 7.25% in this scheme, an amount close to ₹1,08,700 can be expected at maturity after 444 days. Senior citizens, however, get more due to the extra interest benefit.
How to Open PNB 444-Day FD
You can open this FD easily through:
- PNB internet banking or mobile app
- Nearest PNB branch
Simply select the special scheme, 444 days being the tenure, deposit the amount, and submit.
Final Words
Considering all, the PNB 444-day FD scheme stands out as a fine option for short-term investment, featuring safety, high return, and liquidity. It fits well for an investor willing to take a conservative approach, for retirees, and for somebody who wishes to grow his money without worrying about price risks.
