Home Finance How FD Can Help Senior Citizens for Savings

How FD Can Help Senior Citizens for Savings

Are You a Senior Citizen? Check How an FD Can Help You Financially 

You have worked hard to make everyone happy. Now, it is time to get rewarded. A fixed deposit can be the best financial instrument for you, as you can get assured income every month without any risk. 

However, finding the right fixed deposit (FD) with the highest interest rates is not easy. While several financial institutions offer high interest rates, not every fixed deposit scheme is as safe as PNB Housing Finance FD

Here are the ways how PNB Housing Finance FDcan give you high returns with optimal security. And when you are sanguine about a high income, you can live life more freely.

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Highest Fixed Deposit Interest Rates

PNB Housing Financeoffers industry-best interest rates on its long-term FDs. You can get up to 9.13% yield to maturity on a 10-years’ cumulative fixed deposit scheme. Additionally, as a senior citizen, you can earn 0.25% higher interest rate than the prevailing highest fixed deposit interest rates, depending on the tenure. Hence, PNB Housing Finance FD can help grow your money much faster than many other investment options. 

Easy Application Process

PNB Housing Finance is one of the very few companies which offers doorstep service to its FD customers. You can conveniently open the website, fill in a few details like name, email address, telephone number, etc., and submit the form online. Usually, you can expect a phone call from the company within a day. Once you are ready with the application form and documents like PAN card, Aadhar card, and cheque, an officer will visit your residence, collect the form, and hand over the acknowledge slip. The fixed deposit certificate gets mailed to your postal address within a few days. 

Safe and Secure

Security plays a prominent role in determining your satisfaction with a fixed deposit. Before investing your hard-earned money in an FD, you should always ensure that the company has a license from RBI and is registered with the Ministry of Corporate Affairs. When you apply for PNB Housing Finance FD, you do not need to worry about safety, as the FDs are CRISIL AA+/ Negative and CARE AA rated, and are considered among the safest financial instruments.

Auto-Renewal and Auto-Maturity

Gone are the days when you had to stand in a queue to withdraw the maturity amount and renew the principal. When you create a PNB Housing Finance FD, you get the facility of auto-renewal and auto-maturity for free. Hence, if you want to reinvest the matured amount, you can do so without going anywhere. Similarly, if you want the entire amount back, you can express your interest, and PNB Housing will credit the amount to your bank account on the day of FD maturity.

Close the Account Anytime You Want

Life can sometimes play dirty tricks with a senior citizen, and you may need money urgently. PNB Housing Finance FDs are hundred per cent liquid, which means you can close the FD account anytime the need arises. However, you will have to forego a part of your interest income for closing the account.

Conclusion

If you want to get the highest fixed deposit interest rates and lead a happy life, probably nothing can beat a PNB Housing Finance FD. What makes it even more attractive is that you will get all information on their website; no terms are hidden. And, as a senior citizen, you need a trustworthy financial instrument that can give you assured returns securely and timely.

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