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Fixed Deposits (FDs) are a reliable savings tool in India. They provide secure returns and are a preferred choice for many investors. PNB Housing Finance offers various FD options. Understand the benefits of PNB Housing Finance FDs and why they might be suitable for your investment needs.Why Choose PNB Housing Finance Fixed Deposits?PNB Housing Finance provides competitive interest rates and flexible tenors for FDs. Here are some key benefits:Attractive Interest RatesPNB Housing Finance often provides higher interest rates. These rates are generally better than those offered by many banks. As of 2024, the cumulative interest rates for PNB Housing Finance FD rates range from 7.25% to 7.95% p.a. The rates vary based on the tenor and customer category. This includes the up to 0.30% p.a. additional interest rates offered to senior citizens.Flexible TenorsThe tenors range from 12 to 120 months. This allows investors to choose based on their financial goals. This flexibility can cater to both short-term and long-term savings plans.Regular Income OptionPNB Housing Finance provides options for monthly, quarterly, half-yearly, or annual interest payouts. This can be beneficial for those needing a regular income stream. The monthly payout FD is useful for those requiring consistent cash flow.Safety and ReliabilityPNB Housing Finance is a well-established institution in the financial sector. Investments are considered safe, with timely interest payments and principal repayment at maturity. The company adheres to stringent regulatory standards.Easy Application ProcessApplying for PNB Housing Finance FDs is straightforward. You can choose to apply online or visit a branch. The documentation required is minimal, making it convenient for investors.Premature Withdrawal FacilityPNB Housing Finance allows premature withdrawal of FDs. This is subject to certain terms and conditions. While there might be a penalty, this feature provides liquidity in emergencies.Who Should Invest in PNB Housing Finance FDs?PNB Housing Finance FDs cater to a wide range of investors:Conservative InvestorsInvestors who prefer low-risk investments may find PNB Housing Finance FDs suitable. These FDs offer guaranteed returns. The safety and reliability of these FDs are appealing to conservative investors.RetireesRetirees needing a regular income stream could benefit from the FD monthly payout option . The interest rates and payout frequency options may be favourable for regular income requirements.Young ProfessionalsYoung professionals planning their financial future can also consider these FDs. The flexible tenors help align with life goals. These goals may include buying a house, funding education, or saving for retirement.Tax ImplicationsInterest earned on PNB Housing Finance FDs is taxable. Consider the following points:Tax Deducted at Source (TDS)If the interest income exceeds ₹40,000 in a financial year (₹50,000 for senior citizens), TDS is applicable. The current TDS rate is 10% if PAN is provided; without PAN, the rate is 20%.Form 15G/15HIndividuals with no taxable income can submit Form 15G (for the general category) to avoid TDS. Senior citizens can submit Form 15H for the same purpose.Tax FilingEven if TDS is deducted, the interest earned must be declared in your income tax return. Proper planning and declaration can help in managing tax liabilities. Documents Required to Book a PNB Housing Finance FDHere are some documents you must submit to book an FD with the NBFC:Passport-size photographSelf-attested copies of PAN card, Aadhaar card, Driving License, Voter ID, NAREGA card, and PassportNon-resident Indians have to submit the below documents for booking an FD:Passport copy (self-attested on the first and last 4 pages)Valid employment visa/work permitAddress proof - Indian and overseas How to Open a PNB Housing Finance FDOpening a PNB Housing Finance FD involves a few simple steps:1.Visit the Official Website or BranchYou can visit the PNB Housing Finance website or the nearest branch to get started. The online process is quick and convenient.2.Online ApplicationClick on the ‘Contact us for Deposits’ button on the NBFC’s website3.Submit Required DetailsProvide the necessary details and specify the amount you would like to invest in the FD. 4.Customer RepresentativeA representative will get in touch with you to collect the documents and the FD will be booked within 48 hours. PNB Housing Finance FDs offer attractive interest rates and flexible tenors. They also provide various payout options. The safety and reliability of PNB Housing Finance add to the appeal of these FDs.Investing in a PNB Housing Finance FD could help achieve financial goals with ease. PNB Housing Finance FDs may be suitable for retirees seeking regular income or young professionals planning for the future. They also cater to conservative investors seeking safe returns. Consider the features and benefits to make informed decisions and maximise returns.

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