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PNB FD Calculator

PNB Fixed Deposit Calculator 2022

Last Updated 12th Jan 2022

PNB FDs have tenures ranging from 3 years 1 day to 10 years with maximum rate of interest of 5.25%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.75%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 2.90% 3.40% ₹ 1,00,056 - ₹ 1,00,130
15 days to 29 days 2.90% 3.40% ₹ 1,00,119 - ₹ 1,00,270
30 days to 45 days 2.90% 3.40% ₹ 1,00,238 - ₹ 1,00,419
46 days to 90 days 3.25% 3.75% ₹ 1,00,410 - ₹ 1,00,925
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PNB Fixed Deposit Calculator

PNB fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in PNB. Banks may allow a higher interest rate on larger deposits. PNB offers a deposit amount in the range of Rs. 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. PNB offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by PNB is 5.25% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years 1 day to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 2.90% for a 3 years 1 day FD and a rate of 5.25% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.90%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      PNB calculates quarterly interest on its fixed deposits. You can also opt for a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

PNB Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, PNB would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • Cumulative- In case you opt for a PNB cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is PNB FD Rate Calculated?

PNB calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

PNB FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in PNB depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on PNB FD can be calculated monthly, quarterly, half-yearly and annually.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in PNB FD for a 5-year tenure at an interest rate of 5.25% for depositors below 60 years and 5.75% for senior citizens.The maturity schedule of PNB FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.25% for Citizens below 60 years and at 5.75% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2022 ₹ 5,354 ₹ 1,05,354 ₹ 5,875 ₹ 1,05,875
2023 ₹ 5,641 ₹ 1,10,995 ₹ 6,220 ₹ 1,12,095
2024 ₹ 5,943 ₹ 1,16,938 ₹ 6,586 ₹ 1,18,681
2025 ₹ 6,261 ₹ 1,23,199 ₹ 6,973 ₹ 1,25,654
2026 ₹ 6,596 ₹ 1,29,795 ₹ 7,382 ₹ 1,33,036

PNB FD Calculator Formula

Along with an online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on PNB FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P - Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

Other Investment Calculators

FAQs

What is the highest interest earned on PNB fixed deposit?

You can earn a maximum interest of 5.25% on PNB fixed deposits.

How many years FD will double in PNB?

The growth of PNB FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in PNB FD.You can also use PNB fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one’s investment to get doubled in PNB.

What are the minimum and maximum amounts that I can invest in an PNB FD?

The minimum investment limit in PNB Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

Can I withdraw my premature FD from PNB?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 1% of FD amount for premature withdrawal.

How can I calculate PNB premature FD amount?

To calculate premature FD amount you can use PNB bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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PNB News - Jan 2022
  • 2021-10-12 : PNB Introduces PNB Pranam Fixed Deposit Scheme
    Punjab National Bank (PNB) has introduced a new fixed deposit scheme for senior citizen customers. A customer who has attained an age of 55 years can avail of this scheme and deposit maximum Rs 1,99, 99,999.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
  • 2021-05-17 : Revised Fixed deposits rates for PNB
    Punjab National Bank revised its FD rates effective from 1 May 2020. The FD rates for 7 to 45 days is 3%, for 46 to 90 days it is 3.25 and for 91 to 179 days 4% and 180 to 270 days it is 4.40%. The rate for long tenors of 271 days to less than one year is 4.50% and the rate for one year to up to 3 years is 5.20%. Further, the FD rate for above 3 years to 10 years is 5.25%.
  • 2020-12-29 : PNB completes IT integration of all branches of two merged entities
    Punjab National Bank clarified that the customers of the former OBC Bank are now migrated to CBS of PNB wherein they can transact seamlessly via existing branches and digital banking channels like internet banking and mobile banking. The amalgamation of PNB, United Bank of India and OBC has come into effect from April 1, this year. The merger created the second-largest nationalized bank in terms of business and total branches.
  • 2020-12-08 : Punjab National Bank revised FD rates
    Punjab National Bank revised its FD rates effective from 1 December 2020. The FD rates for 7 to 45 days is 3%, for 46 to 90 days it is 3.25 and for 91 to 179 days 4% and 180 to 270 days it is 4.40%. The rate for long tenors of 271 days to less than one year is 4.50% and the rate for one year to up to 3 years is 5.20%. Further, the FD rate for above 3 years to 10 years is 5.25%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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