We all want our savings to grow in leaps and bounds. Banks and NBFCs offer many attractive schemes for parking your surplus funds, each with some unique features or added benefits.
How to select the best savings tool?
The selection of the financial institution for investing your surplus is as crucial as the selection of the scheme. The credibility of the institute is more important than the plan itself as it offers the security of your funds, added benefits, and flexibility in the tenure, competitive interest rates, and facility of loan against investment as well as pre-mature withdrawal.
PNB Housing Finance
PNB Housing Finance is an NBFC registered under Companies Act, 1956, and is in operation since 1988. The company has excellent credit, the cost to assets ratio, the fastest growth rate in the sector, and high capital adequacy ratio. All these make it a highly creditworthy institution for parking your savings. The company offers varied types of fixed deposits with varying tenures and rate of interest. The PNB Housing Finance FD review is best in the market. It is the safest and earns the highest return on investment due to the very high rate of interest.
Features of PNB Housing Finance Fixed Deposit
- Best return on Investment: Due to the attractive rate of interest, and multiple modes of interest payout, fixed deposit of the company helps you in planning and managing your expenses comfortably. It also enables the accumulation of the right amount of interest for wealth generation. The company provides stable returns, which makes this one of the best choices for saving surplus.
- A very high degree of Credibility and Safety: A Rating of AAA by CRISIL and CARE Indicates the highest degree of safety of funds and the guarantee of timely interest and principal amount payment. Your funds are at ZERO risks.
- Assurance of Returns: The ups and downs of the market situation and fluctuations in the economic conditions do not affect your FD. Hence, the return that you expect from your investment is guaranteed. You will receive an assured return on your investment regularly and accurately.
- Loan on your FD: This is one of the best facilities you get from the company. To meet any unexpected cash crunch or emergencies which demand cash on hand, you can avail loan on your FD. You can get an instant loan up to 75% of your FD value at a very affordable rate of interest. It keeps your FD intact, it will continue to earn interest, and your cash requirement problem is also solved timely.
- No Tax deduction at source: Your interest income on FD up to Rs. 5000 is eligible for tax exemption, and the company will not exercise any TDS.
Fixed Deposits of PNB Housing Finance is your best bet for growing your savings in this highly turbulent economic situation. It is safe, rewarding, and reliable for investment.