PNB RD Scheme: A Smart Investment for Strong Returns

If you’re looking for a safe place to invest your money with the promise of strong returns, you might want to consider the Recurring Deposit (RD) scheme offered by Punjab National Bank (PNB). This scheme allows you to deposit a fixed amount every month, and after a certain period, you’ll receive a significant sum of money. If you are interested in learning more about PNB’s RD Scheme, read on for the key details.

Overview of PNB RD Scheme

By investing in the PNB RD Scheme, you deposit a fixed amount every month. After the specified tenure, you will receive a lump sum, which includes both your deposited amount and the accrued interest. The tenure for investment in this scheme can range from 6 months to 10 years.

PNB RD Scheme Interest Rates

The interest rate offered under the PNB RD scheme varies based on the duration of your investment:

• 2-year investment: 5% interest rate
• 3-year investment: 5.5% interest rate
• 5-year investment: 5.25% interest rate
• 5 to 10-year investment: 6.50% interest rate

Example: Return on a ₹25,000 Investment

If you choose to deposit ₹2,500 every month under the PNB RD Scheme for a period of 5 years, you will accumulate a total of ₹177,481, which includes an interest amount of ₹27,481. This example assumes a consistent deposit of ₹2,500 each month for 5 years.

Additional Benefits: Tax Exemption and Loan Facility

One of the advantages of PNB’s RD Scheme is that you are eligible for tax exemptions on your earnings. Additionally, if you need funds during the investment period, you can avail of a loan against your RD from Punjab National Bank.

This scheme offers a secure way to build up savings over time, making it an attractive option for those looking to earn returns with a low-risk investment plan.

The post first appeared on .