 "PNB housing finance, Punjab national bank")
PNB Housing Finance on Monday announced a limited-period offer on its fixed deposits interest rates for individuals up to 60 years, being offered 8 per cent and 8.30 per cent for senior citizens for a tenure of 23 months.
These interest rates are applicable on all new and renewed fixed deposits booked until March 31, 2024, with a minimum deposit amount of Rs 10,000.
The existing fixed deposit rates for a period of 12 to 23 months are 7.50 per cent for customers up to 60 years and 7.75 per cent for senior citizens.
Girish Kousgi, Managing Director & Chief Executive Officer, PNB Housing Finance, said, “Fixed deposit is a secure investment tool not only for customers looking to embark on their financial investment journey, but also for those with a moderate or low-risk appetite. We are excited to announce our limited-period attractive interest rate offer on fixed deposits to encourage investors to adopt healthy investment habits. We are committed to delivering innovative and customized financial solutions that align with the evolving needs of our customers and help them save for the future.”
PNB Housing Finance had a total deposit book of Rs 17,134 crore as of December 31, 2023, with a rating of CRISIL ‘AA/Positive’ & CARE ‘AA/Positive’. The asset book of the company stood at Rs 62,337 crore.
In Q3 FY24, the company recorded a 26 per cent year-on-year (Y-o-Y) growth in net profit to Rs 338 crore from Rs 269 crore. However, the Net Interest Income (NII) of the firm declined by 19 per cent to Rs 595 crore from Rs 734 crore in the year-ago period.
