An unforeseen emergency may come at any time. It may come in the form of a job loss, business debacle, medical emergency, a sudden home renovation, and so on. Arranging funds during such times can be challenging. While there are easy-to-apply loan options that can instantly provide you with funds, the EMIs can be an unwelcome addition to your expense list.
A better way to approach an emergency is by investing in a corporate fixed deposit, such as from PNB Housing, which not only offers the highest interest on FD but also complete safety of your capital. This article lists the reasons why you should build an emergency corpus with PNB Housing fixed deposit.
- High Returns
PNB Housing fixed deposits offer higher-than-average interest rates to its FD account holders. Unlike banks, you do not need to create a savings account to open an FD. You can transfer the money from any bank account to PNB Housing and get the highest interest on FD. Additionally, senior citizens can get a 0.25% extra interest than the average interest rates. Hence, PNB Housing can help you to grow your capital and face an emergency with confidence.
- Maximum Security
PNB Housing fixed deposit is one of the safest financial instruments in the market. Usually, the safety of corporate FDs is reflected in their credit rating. In India, credit rating agencies like CRISIL and CARE rate corporate FDs. Any rating above FAA+ (CRISIL) and AA (CARE) is considered the safest in the industry. PNB Housing offers FAA+ and AA fixed deposits that are among the safest in the market.
- No TDS Deduction
When you are creating an emergency corpus, every penny matters. PNB Housing fixed deposit gives you additional reasons to save money. No tax is deducted at source up to an interest income of INR 5,000 every year. Hence, your emergency fund will grow faster than you can imagine.
- Automatic Maturity and Automatic Renewal
During the times of an emergency, it might be hard to renew an existing fixed deposit. With PNB Housing FD, you do not need to worry about renewal or maturity. PNB Housing offers auto-renewal and auto-maturity facilities that can save your time and money. To get these facilities, you have to tick the right boxes while filling the application form.
- Loan Facility
Fixed deposits are a liquid investment option, which means you can close it prematurely at any time by paying a small penalty. But, when you have a PNB Housing fixed deposit in your portfolio, there is no need to close the account prematurely. You can avail a loan of up to 75% of the principal by depositing your FD certificate to the company. The interest rate is only 2% higher than the highest interest on FD and is much lesser than conventional instant loans.
- Doorstep Service
PNB Housing offers doorstep service for all fixed deposit customers through its extensive branch network. Hence, to get the highest interest on FD, you do not need to move an inch from your home. You can conveniently visit the website, fill in your details, and apply for the loan. The company-appointed officer will visit your registered address and help you open the account.
When it comes to fixed deposits, convenience and high returns rarely go hand in hand. PNB Housing fixed deposit is an exception. You can comfortably invest in a fixed deposit and get the highest interest on FD without ever visiting the branch.
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