Get big benefits from small savings! Deposit ₹5000 every month and get ₹3.54 lakh in 5 years. Know the full details of this safe and attractive scheme of PNB.
It is not easy for everyone to save a large amount, but it is not impossible either. Punjab National Bank’s (PNB) Recurring Deposit Scheme (RD Scheme) is one such option for you, in which you can save a little every month and get a lump sum amount with interest on maturity. This scheme works like a piggy bank, where you make small savings and create a large amount over time.
What is PNB RD Scheme?
Punjab National Bank’s RD scheme is a popular investment option in which you have to deposit a fixed amount from your income every month. An attractive interest rate is given by the bank on this deposit. On completion of 5 years, this amount is given to you in lump sum along with interest. This scheme is suitable for those who want to grow their savings systematically with low risk.
How much interest rate is being received?
The interest rate on PNB RD Scheme is attractive, which ranges from 6.50% to 7.25%. You can start investing in this scheme with just ₹ 100 and there is no maximum investment limit. You can deposit as much amount as you want in multiples of ₹ 100.
Return on savings of ₹ 2000 every month
If you deposit ₹ 2000 every month, then your total deposit amount in 5 years will be ₹ 1,20,000. On this, the bank will pay interest of ₹ 21,983 at the rate of 6.50%. On maturity of 5 years, you will get a total of ₹ 1,41,983.
Return on saving ₹3000 every month
If you deposit ₹3000 every month, the total deposit amount in 5 years will be ₹1,80,000. On this investment, you will get ₹2,12,972 including interest from the bank, out of which ₹32,972 will be your earning as interest.
Return on saving ₹5000 every month
This scheme can be even more beneficial for those who can save more. If you deposit ₹5000 every month, a total amount of ₹3,00,000 will be deposited in 5 years. The bank will provide interest of ₹54,957 on this based on the interest rate of 6.50%. On maturity, you will get a total of ₹3,54,957.
Why choose PNB RD Scheme?
PNB RD Scheme not only helps you convert your small savings into a big amount, but it is also a completely safe and reliable scheme. This scheme is special for those who want to secure their future without any risk. The interest rate and flexible investment options offered by PNB make it an ideal investment plan.
