Investors looking for a short-term, high-return investment have a golden opportunity! A leading government bank has launched a new Fixed Deposit (FD) scheme offering 7.5% interest returns in just 303 days. This limited-time offer is attracting investors eager to grow their savings safely and efficiently.
NEW FD ALERT
| Feature | Details |
|---|---|
| Bank Offering FD | Punjab National Bank (PNB) |
| Interest Rate | 7.5% per annum (for senior citizens), 7% for general public |
| Tenure | 303 Days |
| Launch Date | January 1, 2025 |
| Other FD Options | 506 Days (6.7%), 400 Days (7.25%) |
| Official Source | PNB Official Website |
The PNB 303-Day FD scheme is a fantastic short-term investment opportunity offering guaranteed 7.5% returns for senior citizens and 7% for others. With government security, easy process, and high returns, this FD is ideal for risk-free wealth growth.
To maximize your savings, consider opening your FD before the limited-time offer expires!
Why Should You Consider This FD?
Fixed deposits remain one of the safest investment options, offering guaranteed returns and zero risk compared to stocks or mutual funds. This PNB FD scheme is particularly attractive because:
- It provides a higher-than-average return within a short tenure.
- Government-backed security ensures your capital is safe.
- Senior citizens earn extra benefits, making it ideal for retirees.
- Compared to regular savings accounts, FDs offer better interest rates.
Breaking Down PNB’s 303-Day FD Scheme
1. Interest Rate Breakdown
The Punjab National Bank (PNB) FD for 303 days offers an interest rate of 7% for the general public and 7.5% for senior citizens. This means:
- If you invest ₹1,00,000, you will earn ₹5,805 in interest as a senior citizen.
- A general investor will earn ₹5,418 in the same period.
2. Other FD Options by PNB
PNB has also launched other fixed deposit tenures:
- 400 Days FD: Offers 7.25% interest.
- 506 Days FD: Offers 6.7% interest.
For those looking for a slightly longer tenure, these options may be beneficial.
3. Who Should Invest in This FD?
This scheme is ideal for:
- Senior citizens looking for safe, high-return investments.
- Short-term investors wanting quick returns.
- Individuals planning for upcoming expenses like weddings, vacations, or education.
- Risk-averse investors who prefer government-backed security.
How to Open This FD?
Opening a Fixed Deposit in PNB is simple and can be done online or offline.
Online Method:
- Visit the PNB Official Website.
- Log in to your internet banking account.
- Select Fixed Deposit from the services menu.
- Choose the 303-day tenure option.
- Enter the investment amount.
- Click on Confirm to complete the process.
Offline Method:
- Visit your nearest PNB branch.
- Carry identity proof (Aadhaar, PAN card) and passport-size photographs.
- Fill out the Fixed Deposit application form.
- Deposit the required amount via cash or cheque.
- Receive the FD receipt as proof of your investment.
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Comparison with Other Bank FD Rates
| Bank | Interest Rate (General) | Interest Rate (Senior Citizens) | Tenure |
| PNB | 7.00% | 7.50% | 303 Days |
| HDFC Bank | 7.35% | 7.85% | 35 Months |
| ICICI Bank | 7.25% | 7.85% | 15-24 Months |
| Bank of Baroda | 7.30% | 7.80% | 400 Days |
| IDBI Bank | 8.00% | 8.05% | 444 Days |
Tax Implications on FD Returns
- Interest earned on fixed deposits is taxable.
- If annual interest exceeds ₹40,000 (₹50,000 for senior citizens), TDS (Tax Deducted at Source) of 10% is applicable.
- If your income is below the taxable limit, you can submit Form 15G (for individuals) or Form 15H (for senior citizens) to avoid TDS deductions.
FAQs
1. Who is eligible for this PNB FD scheme?
Any Indian citizen above 18 years can invest in this FD. Senior citizens receive an extra 0.50% interest.
2. Is the interest earned on FD taxable?
Yes, FD interest is taxable under “Income from Other Sources”. If the interest earned is above ₹40,000 (₹50,000 for senior citizens), TDS of 10% is deducted.
3. Can I withdraw my FD before 303 days?
Yes, but premature withdrawal may lead to a penalty and lower interest payout.
4. Are my FD insured?
Yes! Under DICGC insurance, FDs are covered up to ₹5 lakh per depositor per bank.
5. How can I calculate my FD returns?
Use PNB’s FD Calculator to estimate returns based on your investment amount and tenure.
