Why should you invest in a PNB Housing FD for your childs future?

Why should you invest in a PNB Housing FD for your child's future?

Rising prices, new taxes, and other costs are some of the factors which challenge the savings of the general public. However, when it comes to the child’s future, no one would like to compromise on their financial decisions. A child’s future encompasses quality education from the kindergarten level to a professional degree, not ignoring the other costs like tuition fees, entrance fees, and additional miscellaneous charges. There is also a significant level of ambition towards higher education in foreign universities, which will skyrocket the educational expenses. Interestingly, parents are ready to bear higher costs for the better and secure future of their children.

Fixed deposits are the most preferred investment instruments in India due to low risks and high returns. Compared to a regular savings account, financial institutions like PNB Housing offer attractive fixed deposit rates with FD interests upto 8.20%. PNB Housing also prides itself on having excellent stability and credibility ratings from national as well as international rating agencies. Given the rising inflation, it is wise to invest early for the secure future of your child.

However, it is better to opt for an NBFC or a bank that offers reasonable fixed deposit rates as it will strengthen the savings of a depositor.

Here’s why PNB Housing can be your best financial partner and help with your child’s future:

Dedicated Service Managers and Widespread Network: Before and after investing in FD, it is natural that people who put their money to avail better FD interest rates will have a lot of questions. PNB housing’s vast network of 100 branches across 35 cities ensures that one can reach out to the financial institution without any hassles. PNB housing also has its dedicated customer service managers who help out with immediate resolution and answers.

High safety assurance:  CRISIL has awarded the FAAA/Negative rating to PNB housing, thus ensuring the highest level of safety.

Auto-renewal/Auto Maturity Process: The most critical factor in an FD investment is to have a seamless experience during the maturity process. PNB Housing ensures that one can easily avail of the maturity withdrawal and can also opt for the auto-renewal process.

Premature Withdrawal: As no one can predict the need for funds at any given time, you have the option of premature withdrawal from your FD account anytime after three months from the date of deposit. Note that interest at 4% per annum will be paid to individuals making premature withdrawal within six months from the date of deposit. For early withdrawals made after six months, an interest rate 1% lower than applicable on public fixed deposit for the period for which the deposit has run is offered.

TDS deduction: There will be no TDS deducted at source on interest earned on fixed deposits up to? 5,000 in a given financial year. One can also avail tax exemption as per existing tax legislation.

Nomination: Nomination facility is essential and is available on all PNB Housing fixed deposits as per guidelines provided by the National Housing Bank.

Loan facility: You can also avail a loan against fixed deposits. It is available for up to 75% of the total principal deposit. The loan thus availed attracts an interest rate of 2% higher than the maximum fixed deposit interest rate.