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## PNB Fixed Deposit 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

What is current FD rates at PNB?

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%.

What is FD rate in PNB 2024?

For PNB bank, the revised interest rates came into effect on 8 January 2024. For tenures of 180 to 270 days, the bank has increased interest rates by 50 basis points (bps). After the revision, the bank offers up to 6% interest to the general public. Fixed deposits maturing in 400 days will now receive an interest rate of 7.25%.

What is the interest of 1 lakh in PNB?

For an investment amount of Rs 1 lakh for a tenure of one year at 6.75%, the total interest amount is Rs 6,923.

Is PNB safe for FD?

Yes, an investment in PNB FD is quite safe and secure. The interest on PNB FD is fixed and guaranteed. The interest rates remain uninfluenced by the market volatility. This makes FD investment one of the most secure investment options. Also, from the beginning of the investment, an investor is aware of the maturity amount and interest earnings.

Besides, PNB Fixed Deposit carries an FAA+/negative rating from CRISIL. The Deposit Insurance and Credit Guarantee Corporation(DICGC) insures every fixed deposit up to Rs 5 lakh in PNB. Therefore, any default in repayment of the maturity value will be duly covered by the DICGC.

Does a PNB FD calculator ask for other things except for the basic details?

No, the PNB bank will ask you only the basic details related to your accounts, such as the principal amount, interest rate and tenure.

How is the interest paid to a PNB FD account holder?

The interest earned on a PNB FD is credited to the savings account directly.

What is the maximum interest rate offered by PNB on FD?

The maximum interest rate on PNB FD is 7.25% for a regular investor and 7.75% for senior citizens. An investor can use Cleartax’s PNB fixed deposit calculator to calculate the FD investment’s maturity amount.

Is the interest earned on PNB fixed deposits taxable?

Yes, the interest earned on FDs will be taxed only in case the total interest income in a given financial year is more than Rs 40,000.

Does PNB offer additional interest to senior citizens?

Yes, senior citizens are offered additional interest of 0.5% on all FD tenures.

Is overdraft and nomination facility available on term deposits offered by Punjab National Bank?

Yes, the facility of overdraft and nomination is offered by PNB Bank.

Does the bank offer a special fixed deposit scheme for girls?

Yes, a fixed deposit scheme named PNB Balika Shiksha Fixed deposit scheme is offered by the bank for girls.

What is the minimum deposit amount for opening an FD account under the PNB Special Term Deposit Scheme?

The minimum deposit amount for opening an FD account under the PNB Special Term Deposit scheme is Rs 1000.

Will a penalty be levied for premature withdrawal of deposit under the PNB Pranam Fixed Deposit scheme once the investor attains senior citizen status?

In such a case, PNB bank will not levy any penalty for premature withdrawal.

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