Today many people prefer to keep money in fixed deposit FD scheme of banks. FD is the amount which is to be deposited with a financial institution, on which customers get interest according to the pre-determined fixed rate. You can take this return on a monthly, quarterly or yearly basis. After the completion of the maturity period, you get the deposit back.

However, there are various questions in the mind comes before opening a fd like tax benefits, penalty rates for senior citizens, the interest amount and much more. Here ia a short list of important questions you must ask before opening a fixed deposit account in PNB housing.


Have a look on the questions to ask:

Question 1: What are the types of Fixed Deposit?

  • Cumulative Fixed Deposit: It offers interest at the end of the maturity. It helps you to create capital as gives you higher returns.

  • Non-cumulative Fixed Deposit: It offers interest is paid out as per monthly, quarterly, half-yearly, or annually i.e, depends upon the investor’s choice. Investors get the earnings during the term of the deposit but the principal is at maturity time.

Question 2: Am I eligible to open a Fixed Deposit account?
If you are 18+ years and have residential proof individual, belongs to Hindu family and matches all the eligibility criteria you can open a Fixed Deposit account in any financial institution.

Question 3: What documents are required to open FD?
  • Identity Proof
  • Address Proof
  • Age Proof
  • Photographs
  • Proof of signature

Question 4: What is the minimum period for Fixed Deposit?
Minimum period for Fixed Deposit is 12 months.

Question 5: Is there any special scheme for senior citizens?
PNB Housing provides 0.25% higher interest rate to the senior citizens.

Hence these are some questions which you have to ask before opening fd account in any financial institution. The documentation requirement, Loan facility, TDS deduction, best fd rates are the factors which must be satisfied.