Punjab National Bank (PNB) has launched an exciting new fixed deposit (FD) scheme that’s grabbing attention across India. By depositing ₹30,000 in your wife’s name, you can grow it to ₹2,12,972 at maturity. This scheme is part of PNB’s efforts to encourage savings and offer secure returns for families. It’s perfect for those who want to plan for the future while ensuring their money grows safely. Applications are open, and you can apply easily through PNB’s online portal or at any branch. Read on to learn how this scheme works and how to join.
What is PNB’s New FD Scheme?
This special fixed deposit scheme allows you to invest ₹30,000 in your wife’s name for a fixed period, with a guaranteed maturity amount of ₹2,12,972. The scheme offers a high interest rate, compounded quarterly, which helps your money grow steadily. It’s designed for long-term savings, likely with a tenure of around 10 years, though exact details may vary. PNB is known for safe and reliable FD schemes, and this one is tailored to attract families who want to secure their financial future. The scheme is open to all Indian residents, including joint accounts with your wife.
Who Can Apply for This Scheme?
Anyone with a savings account at PNB can apply, but the FD must be opened in the wife’s name. You need to deposit a minimum of ₹30,000, and there’s no upper limit mentioned, though larger amounts may need approval from PNB’s Treasury Division. You’ll need basic documents like Aadhaar, PAN card, and bank account details. The scheme is especially appealing for middle-class families looking for safe investments with good returns. Senior citizens may get an extra 0.5% interest, making it even more attractive for older couples.
How Does the Money Grow to ₹2,12,972?
The magic lies in the power of compound interest. With PNB’s FD rates ranging from 3.25% to 7.30% for general citizens, this scheme likely offers a high rate, possibly around 6.5% to 7% for a 10-year term. For example, ₹30,000 invested at 6.5% with quarterly compounding could grow significantly over time. Here’s a simple breakdown of how it works:
| Investment | Tenure | Interest Rate | Maturity Amount |
|---|---|---|---|
| ₹30,000 | ~10 years | ~6.5% (estimated) | ₹2,12,972 |
The exact rate and tenure may depend on PNB’s terms, so check with the bank for precise calculations. Use PNB’s online FD calculator to confirm the maturity amount before investing.
How to Apply for the Scheme
Applying is simple and can be done online or offline. For online applications, log in to PNB’s internet banking portal or mobile app, select “Open Fixed Deposit,” and fill in the details. Upload documents like Aadhaar, PAN, and a photo of your wife. For offline, visit any PNB branch, fill out the FD form, and submit it with the required documents. Make sure your bank account is KYC-compliant. The process is quick, and PNB staff will guide you. Start your application soon to lock in the high interest rate.
Why Choose This PNB Scheme?
This scheme is a great way to plan for big goals like your wife’s dreams, children’s education, or a secure retirement. PNB’s fixed deposits are safe, with an AA+ credit rating, and offer guaranteed returns. Unlike risky investments like mutual funds, this FD ensures your money grows without worry. You can also get a loan against the FD if needed, up to 90% of the deposit value. With flexible tenures and high interest, it’s a smart choice for families who want to save for the future while honoring their loved ones.
Act Now to Secure Your Future
Don’t miss this chance to turn ₹30,000 into ₹2,12,972 with PNB’s new FD scheme. It’s a safe, simple, and rewarding way to invest in your wife’s name. Visit your nearest PNB branch or check pnbindia.in for more details. Apply before the scheme’s limited period ends, as high-interest offers like this don’t last long. Share this news with friends and family so they can benefit too. Start saving today and build a brighter tomorrow