PNB RD Scheme: If you’re looking for a safe investment that helps grow your money with guaranteed returns, then the PNB RD Scheme (Punjab National Bank Recurring Deposit) can be an excellent choice. Under this scheme, you deposit a fixed amount every month and earn 6.5% annual interest, compounded quarterly. It ensures the safety of your capital while providing steady and reliable growth over time.
How Does the PNB RD Scheme Work?
A Recurring Deposit (RD) is a small savings plan where you invest a fixed amount every month. The PNB RD Scheme has a maturity period of 5 years, during which you earn interest every quarter. This interest is calculated on a compound basis, meaning the interest earned each quarter is added to the principal and earns further interest in subsequent quarters.
Investment Limits and Interest Rate
- Minimum Investment: ₹1000 per month
- Maximum Investment: No upper limit
- Interest Rate: 6.5% per annum (with quarterly compounding)
This compound interest feature makes the scheme highly beneficial for long-term investors, as the returns grow significantly over time.
Expected Returns on ₹3000 Monthly Investment
Suppose you invest ₹3000 every month. Over a period of 5 years, your total investment would be ₹1.80 lakh. At maturity, you can expect to receive around ₹2.12 lakh, which includes ₹32,000 as interest. This makes it a lucrative and reliable option for building financial security over the medium term.
Additional Interest for Senior Citizens
Senior citizens are offered a higher interest rate on their RD accounts under the PNB RD Scheme. This feature makes it a highly appealing investment option for retirees, as it provides better returns and supports a steady income flow during their golden years.