PNB FD Calculator

The Punjab National Bank (PNB) Fixed Deposit (FD) Calculator offers prospective depositors the ability to calculate both interest income and maturity value for multiple fixed deposit amounts and tenures. The online FD calculator considers the applicable PNB FD interest rates, tenure and total principal amount to show the interest amount and maturity value at the end of FD tenure.

Formula to Calculate PNB FD Interest Rate?

PNB interest rate is calculated depending on the initial principal and the collective interest from previous periods. The interest rate is raised to the number of years for which the interest rate will be compounded and multiplied by the principal amount. 

The formula to calculate the maturity amount is as follows: A = P (1+r/n) ^ n x t
A = Maturity Amount

P = Principal amount invested

r = Rate of Interest

n = number of compounding in a year

t = number of years

Example:

An investor invests Rs 90,000 for a period of 5 years at an interest rate of 7% per annum. 
Here, 

Principal amount of investment = Rs 90,000

Interest rate compounded quarterly = 7% p.a 

Number of compounding in a year = 4 (once every 3 months)

Number of years of investment = 5 years

A = 90,000 (1+0.07/4) ^ (4 x 5)
A = Rs 1,27,330
Interest amount = Rs 1,27,330– Rs 90,000 = Rs 37,330

How to use PNB FD Calculator?

To use the PNB FD calculator, you are required to provide a few information. The calculator will process the input details and show the output. The calculator offers a graphical representation of the maturity value. Also, the tabular representation provides the opening balance, interest earned, and closing maturity balance.  

You are required to provide the following to estimate the interest and maturity value:  

• Provide the investment amount 
• Enter the investment duration in months or years. To enter an investment duration of 1.5 years, enter the total number of months, that is 18 months.
• Enter the rate of interest on FD

The calculator will calculate and show the total maturity amount you will receive and the interest accumulated for the entire period of your FD investment.

Benefits of PNB FD Rates Calculator

Estimate the returns and evaluate investment options: An investment is regarded as successful if your investment option aligns with your investment objective. Ideally, you should estimate the returns in advance before investing. This way, you will ensure that you have chosen the right investment option and avoid any surprises in the long term. 

Compare different FDs by various banks: Most banks in the country offer fixed deposits to their customers. Also, these banks provide different FD interest for the same tenure. It is crucial that you compare those FDs to ensure you invest in the FD that provides the highest return. You can conveniently compare different FDs from various banks using the FD calculator.

Help choose a suitable investment option: There are other investment alternatives to fixed deposits such as Public Provident Fund (PPF), debt mutual funds, tax-saving mutual funds like Equity-Linked Savings Scheme (ELSS), Government Securities (G-Secs), etc.  Before investing, you can estimate the returns and get to know which option best suits your investment purpose.  

Adjust factors in real time to get instant results: The maturity amount of any fixed deposit is related to multiple factors such as tenure, payout, compounding frequency, and interest rates. You can adjust the factors in real time and get the results instantly.

PNB Bank FD Interest Rates

The PNB bank has revised fixed deposit interest rates and offers interest rates between 3.50% and 7.25% for regular citizens. For senior citizens, the bank offers between 4% and 7.75% and for super senior citizens, the bank offers between 4.30% to 8.05%.

Revised PNB fixed deposit interest rates on amounts below Rs 2 crore

Note: All interest rates shown above are as on January 8, 2024