Urban Money

PNB (Punjab National Bank) FD Calculator

  • 5 K
  • 1 Cr
Years
  • 1
  • 25
%
  • 1
  • 15

Future Value

Investments To Returns Ratio:

Amount Invested

Wealth Gained

Future Value

PNB FD Calculator is an online tool enabling a user to map the returns based on their deposit. As fixed deposits generally require one to make a lump sum payment, it is always advisable to use a PNB FD calculator to estimate the outcome for better financial planning for the future. The FD Calculator offered by Punjab National Bank incorporates inputs given by the user and shows the figures in real-time, thereby saving much of the hassle involved in a manual calculation. PNB, or Punjab National Bank, is a public sector financial institution that offers an array of Fixed Deposit products to customers from different walks of life. Here we will explain how one can use the PNB FD Calculator to its utmost potential. 

PNB FD Calculator: Calculate Your Fix Deposit Interest Online 2022 

Calculate your fixed deposit interest online with the help of a PNB FD calculator. Users will be required to provide information, including fixed deposit amount, rate of interest, and duration for which the amount is invested. The latter can be adjusted in both months as well as days. Punjab National Bank offers attractive fixed deposit interest rates, making it a great investment tool. The PNB FD interest rates range between 3% to 5.25%, with a tenure spanning from 7 days to 10 years. Based on the inputs, the FD calculator will give the users an indicative figure pertaining to the total interest earned by the end of the investment period. 

How does PNB Fixed Deposit Calculator Work?

The generic method to calculate the fixed deposit interest rate can be bifurcated in two ways. Firstly, by calculating the simple interest and secondly, by calculating the compound interest. The basic formula for calculating simple interest is (P*R*T)/100. 

Here,

  • P is the principal amount 
  • R is the interest rate
  • T is the duration

Moreover, the compound interest can be calculated with the formula, A = P (1+r/n) ^ (n * t)

Here 
  • A is the total receivable 
  • P is the principal amount r is the rate of interest
  • n is the number of compounding in a year 
  • t is the number of years 

PNB FD Maturity Calculation for 5 Years

Let's assume that one wishes to invest an amount of INR 2,00,000 at an interest rate of 5.25% for 5 years. The interest rate is compounded annually. Thus with the calculation in process, one will receive INR 2,58,310 with an interest-earning of INR 58,310.

Years Opening Balance Interest Earned Closing Balance
1 ₹ 2,00,000 ₹ 10,500 ₹ 2,10,500
2 ₹ 2,10,500 ₹ 11,051 ₹ 2,21,551
3 ₹ 2,21,551 ₹ 11,632 ₹ 2,33,183
4 ₹ 2,33,183 ₹ 12,242 ₹ 2,45,425
5 ₹ 2,45,425 ₹ 12,885 ₹ 2,58,310

PNB Fixed Deposit Calculator - Key Features

Some of the key features of PNB fixed deposit calculators include the following:

  • Easy accessibility 
  • Fast computation 
  • Eliminates manual error
  • Provides estimates based on inputs 
  • Allows the user to compare with different interest rates and deposit fees 
  • Can be used an unlimited number of times.

How to Use the PNB FD Calculator?

The use of PNB FD calculators is fundamental. There is no requirement for any prerequisite knowledge and financial understanding. The online calculator tool can be used by pretty much anyone. Here are some steps involved in using an online PNB FD calculator.

  • Open the calculator from the Urban Money platform
  • The interface is designed with interactive scales with sliders to move around to get required values. Adjust the values there in order to reach the apt value. 
  • Users will be required to provide an exact amount they plan to deposit, the interest rates offered by various banks, and the total duration of the investment.
  • User may also adjust the type of PNB Fixed Deposit Scheme
  • Once the values are adjusted, the tool computes them and presents them to the users in real-time. 
  • The tool shows holistic data with primary and secondary information such as interest generated, total principal amount, estimated amount, etc. 
  • Real-time calculation of outcomes can help the investors ascertain many aspects of their expenses and returns associated with these PNB Fixed Deposit Schemes. 
  • The many uses of the calculator include a comparison of various PNB FD Interest Rates, assessing the effectiveness of the investment, planning future expenses, setting realistic goals based on financial capacity, and much more.  

Why Should you use PNB FD Calculator? 

There is a myriad of benefits involved in using a PNB FD calculator. With the critical efficiency of a computation device that can save valuable time and deliver high accuracy, it goes without saying that using a PNB FD Calculator can be beneficial. Avoiding hassle-filled manual calculations can pave the way to a disposition where one can focus on using the outcome for a better financial decision. 

Furthermore, the PNB FD calculator can help you forecast your expenses and direct the maturity amount to better use. There is no element of surprise in terms of fluctuating interest rates. One can compare as many possible PNB FD interest rates as required. Running through the numbers, again and again, is not an issue. 

How to Open a Fixed Deposit Account With Punjab National Bank?

Opening a Fixed Deposit account with the Punjab National Bank can be your first step toward a secured financial position in the future. Although the steps involved in opening an FD account with PNB are straightforward, there will still be some prerequisites before getting started. Firstly, it is important to have a savings account or any regular account open with the PNB. Only after that can one apply for an FD account. Once the account is set up, use the credentials to create a user ID in the PNB Net Banking portal. Here are the steps explained below. 

  • Access the customer account for PNB Net Banking 
  • You can locate the Fixed Deposit scheme tab under the Deposit option 
  • Lock in on the details pertaining to your fixed deposit, i.e. amount, tenure, etc.
  • Provide your credentials
  • Upload KYC documents 
  • A request will be initiated and sent to the PNB after which they will verify the provided data and proceed further. 

PNB FD Interest Rates

Duration of Investment For regular customers  For senior citizen customers 
7 Days  2.90 % 3.40 % 
3 Months  3.25 % 4.30 %
6 Months  4.40 % 4.90 %
1 Years 5.00 % 5.50 %
3 Years 5.10 % 5.60 %
5 Years  5.25 % 5.75 %
10 Years  5.25 % 5.75 %

Frequently Asked Questions (FAQs)

In How many years will the FD double in PNB?

With PNB’s recently introduced fixed deposit scheme, PNB Dugna, the invested capital is claimed to gain double appreciation in 109 months.

Is PNB FD safe?

With AA and Stable rating given by CARE and FAA+ rating given by CRISIL, PNB FD can be considered a reasonably safe instrument to invest in. Furthermore, there are added benefits, including a higher interest rate for senior citizens.

What is the highest FD rate for PNB Bank?

The highest FD rate for PNB Bank is set at 5.60% per annum, which is offered for a tenure of 5 years to 10 years. This is specifically for the regular fixed deposits type. For senior citizens, the PNB FD interest rate varies from 3.50% per annum to 6.10% per annum.

Does PNB provide a Loan against FD?

PNB’s Loan against Fixed Deposit is available for the general public for an interest rate within the range of 4% to 6.10%. Opting for a loan against a fixed deposit can be a time and money saver for people as it is offered at low-interest rates and eliminates the need to break the existing PNB fixed deposit.

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

PNB introduces a scheme for the girl children known to us by the name PNB Balika Shiksha. This enables girl students to open a fixed deposit which can be redeemed when the child turns 18. The requirements include the girl child to be 8th standard pass out from Kasturba Gandhi Balika Vidyalayas (irrespective of their category). Furthermore, the student should be unmarried and under the age of 16.

Does PNB offer additional interest to senior citizens?

There are several benefits offered to senior citizens by PNB in terms of reduced minimum deposits and increased maximum deposits. Furthermore, they also have the provision of higher interest rates for the age group. The interest rates have been hiked up to 0.50% per annum.