MAM
Benefits of PNB Housing Finance Fixed Deposits: A Complete Overview
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 Rates
PNB 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 Tenors
The 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 Option
PNB 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 Reliability
PNB 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 Process
Applying 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 Facility
PNB 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 Investors
Investors 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.
Retirees
Retirees 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 Professionals
Young 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 Implications
Interest 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/15H
Individuals 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 Filing
Even 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 FD
Here are some documents you must submit to book an FD with the NBFC:
● Passport-size photograph
● Self-attested copies of PAN card, Aadhaar card, Driving License, Voter ID, NAREGA card, and Passport
Non-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 permit
● Address proof – Indian and overseas
How to Open a PNB Housing Finance FD
Opening a PNB Housing Finance FD involves a few simple steps:
1. Visit the Official Website or Branch
You can visit the PNB Housing Finance website or the nearest branch to get started. The online process is quick and convenient.
2. Online Application
Click on the ‘Contact us for Deposits’ button on the NBFC’s website
3. Submit Required Details
Provide the necessary details and specify the amount you would like to invest in the FD.
4. Customer Representative
A 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.
Brands
Malaika Arora launches Maejoy accessories brand with Myntra partnership
New label debuts with 250 plus handbags and lab grown diamond jewellery.
MUMBAI: When style meets sparkle, a new brand is ready to take centre stage. Actor and entrepreneur Malaika Arora has launched a lifestyle accessories label called Maejoy, developed in collaboration with Exceed Entertainment and Myntra Jabong India Private Limited (MJIPL), the B2B wholesale arm of Myntra. The brand enters the market with a debut collection of more than 250 styles spanning handbags and lab grown diamond jewellery, two categories that continue to define everyday personal style for modern consumers.
The handbag lineup includes crossbody bags, structured shoulder bags, bucket bags, totes, backpacks, clutches and workwear inspired designs. The pieces are crafted using materials such as synthetic leather, raffia, braids, satin, rhinestones and metallic finishes.
Alongside the bags, Maejoy has introduced a jewellery range featuring lab grown diamond rings, earrings, pendants, bracelets and tennis bracelets. The pieces are set in 925 sterling silver bases with gold, silver and rose gold tones, and include diamonds certified by IGI and GCI.
Positioned as a premium yet accessible accessories label, Maejoy is built around the philosophy “The Joy of Being Me”, aiming to blend aspirational fashion with everyday usability. The brand’s positioning centres on three pillars: authenticity, empowerment and accessibility.
Arora described the venture as a natural extension of her long association with fashion and personal style.
“Maejoy is a labour of love. Throughout my career, whether on screen, in business or through personal style, I have always believed fashion should feel empowering yet effortless. The Joy of Being Me celebrates individuality while making global fashion trends more accessible,” she said.
MJIPL, CXO and head of house of brands Suman Saha said the brand brings together Arora’s style perspective with a strong opportunity in the accessible premium accessories segment.
“Maejoy combines Malaika Arora’s distinctive style sensibility with fashion forward designs that we believe will resonate strongly with consumers looking for elevated yet wearable accessories,” he said.
Exceed Entertainment CEO Afsar Zaidi added that building celebrity led brands requires balancing authenticity with market viability.
“Malaika commands respect both as a fashion icon and a businesswoman. Bringing her creative vision together with Myntra’s brand building expertise creates a strong foundation for Maejoy,” he said.
The collection is available exclusively on Myntra through its website and mobile app, making the brand accessible to millions of shoppers across India as it steps into the competitive lifestyle accessories space.
