PNB Gold FD: Gold kept at home can make you rich, check details

By
Parvesh Maurya
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PNB Gold FD: Maintaining gold has become very difficult these days.

It is generally seen that people are also very worried about the safety of gold. Many banks provide locker facility, but they also charge a fee for it. But if you want to be free from the worry of maintaining the gold lying at home and also want to earn on it, then Punjab National Bank is giving a great opportunity. In Gold FD, where gold is completely safe, on the other hand, you can also earn money through it.Also Read: Now the same person can get the benefit of two pensions, new rules issued, read in detail here




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“Deposit your jewelery and make money under Gold Monetization Scheme,” tweeted Punjab National Bank. Let us tell you that the Reserve Bank of India is trying to import at least gold from abroad. Due to which the Gold Monetization Scheme was started.

Advantages of Gold Monetization Scheme

  • It is just like FD. Where you give gold to the bank on which you get interest. After maturity, gold or its bar money is available with interest.
  • Gold FD joint can also be opened.
  • Different types of gold like any jewelery or coin or anything else made of gold can be invested in it.
  • At least 10 grams of gold has to be invested in it.
  • The time frame of this scheme is between 1 year and 15 years.

    Rate of interest

  • 0.50% on 1 year Gold FD
  • 0.60% on Gold FDs above 1 year and up to 2 years
  • On Gold FDs of more than 2 years and up to three years – 0.75%
  • 2.25% p.a. interest on medium term deposits
  • 2.50% p.a. interest on medium term deposit Also Read: If you keep the credit card balance zero, then be careful, know its big loss

If you take advantage of the annual interest rate, then you will get the money credited under the simple interest rate. But if you want interest at the time of maturity, then in that case you will get the money under compound interest rate.

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