{"id":2576,"date":"2012-08-09T16:38:21","date_gmt":"2012-08-09T11:08:21","guid":{"rendered":"http:\/\/www.apnaplan.com\/?p=2576"},"modified":"2014-06-23T14:31:13","modified_gmt":"2014-06-23T09:01:13","slug":"pnb-housing-finance-ltd-deposit-schemes-august-2012-review","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/pnb-housing-finance-ltd-deposit-schemes-august-2012-review\/","title":{"rendered":"PNB Housing Finance Ltd Deposit Schemes – August 2012 Review"},"content":{"rendered":"
PNB Housing Finance Ltd. was incorporated in 1988 and operates as a subsidiary of Punjab National Bank. It\u00a0is based in New Delhi, India with branches in all major cities in India.\u00a0PNB Housing Finance, Ltd. offers loans for purchase\/construction of property, flat, houses, and apartments to resident Indians and NRIs.<\/p>\n
Features and Benefits of PNB Housing Finance Ltd Deposit Schemes:<\/strong><\/p>\n
\n
FAA+ rating by CRISIL<\/strong>, which means High safety<\/li>\n
No tax to be deducted at source on interest income upto Rs. 5,000\/- in a financial year<\/li>\n
Loan facility up to 75% of deposit available from all branches of the company and also of Punjab National Bank<\/strong><\/li>\n
Encashment of cheques in respect of interest and repayment of deposits AT PAR by selected branches of PNB<\/li>\n
Premature cancellation allowed after 3 months<\/strong> on the discretion of the company<\/li>\n
Nomination Facility available as per NHB guidelines<\/li>\n
The interest would be payable half yearly for Regular Payout FD and would be compounded half yearly in case of cumulative option.<\/strong><\/li>\n
Minimum Amount – Rs. 20,000 for Cumulative option and Rs. 10,000 for regular interest payout<\/strong><\/li>\n<\/ul>\n
\n\n
\n
Period (Months)<\/strong><\/td>\n
Interest Rates<\/strong><\/td>\n
Yield for Cumulative Option<\/strong><\/td>\n<\/tr>\n
Interest rate for Senior citizens age above 60 years (as on day of deposit) and PNB Housing Staff shall be at 0.50% higher than above rates.<\/strong><\/p>\n
Premature Withdrawal:<\/h3>\n
The deposit can be\u00a0withdrawn prematurely only after completion of 3 months. Below table shows the penalty for withdrawal<\/p>\n
\n\n
\n
Duration<\/strong><\/td>\n
Penalty<\/strong><\/td>\n<\/tr>\n
\n
Up to 3 months from date of deposit<\/td>\n
Cannot withdraw<\/td>\n<\/tr>\n
\n
3 – 6 Months<\/td>\n
No Interest would be payable<\/td>\n<\/tr>\n
\n
6 – 12 months<\/td>\n
3% less than the interest rate prescribed<\/td>\n<\/tr>\n
\n
After 12 months but before maturity<\/td>\n
2% less than the interest rate prescribed<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
![\"pnb](\"http:\/\/www.apnaplan.com\/wp-content\/uploads\/2012\/08\/pnb-housing-deposit-scheme-August-2012-585x1024.png\" "\\"pnb")