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PNB Housing launches online deposit facility

The leading housing finance firm is also offering an attractive rate of interest of up to 8.45% p.a.

brand stories Updated: Aug 20, 2018 16:49 IST
PNB Housing,Bank Deposits,Auto renewal
PNB Housing Finance has launched a facility of online deposits, both on its website and mobile app. (Pixabay)

PNB Housing Finance, the country’s 2nd largest housing finance company by deposit book size, has launched a facility of online deposits, both on its website and mobile app.

The company is also offering an attractive rate of interest of up to 8.45% per annum for a 44-month deposit, marking a rise of 35 bps over the last ROI.

PNB Housing is adept at bringing the highest level of convenience and unparalleled service to its customers. It thrives on digital interventions that bring ease in transacting with the company, anywhere and anytime.

The latest addition will allow applicants to create deposits in just three simple steps with the help of e-KYC and digital signatures. Auto-renewal and online redemption are the other distinctive advantages of the feature.

Shaji Varghese, Executive Director and Business Head, PNB Housing Finance, said, “Online deposit facility is a relatively new service in the housing finance sector. The paucity of time for many has led to the expectation of getting every service at a touch of a button and our online FD service does just that. In fact, the auto renewal and online redemption features are also new to the sector. So, anyone can create a FD without having to walk into a branch or call customer care, and that, too, in just about 10 minutes. As the entire process is automated, it eliminates the need for a physical KYC.”

PNB Housing Finance is one of the few deposit-taking housing finance companies (HFCs) offering competitive interest rates. As of June 30, 2018, the deposit book size stood at Rs. 11,724 crore. As of June 30, the company also ranked 5th among leading HFCs with assets under management at Rs. 68,578 crore.

First Published: Aug 20, 2018 16:49 IST