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PNB Housing Finance FD Calculator

PNB Housing Finance Fixed Deposit Calculator 2022

Last Updated 26th Nov 2021

PNB Housing Finance FDs have tenures ranging from 60 months to 120 months with maximum rate of interest of 6.70%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.95%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
12 months to 23 months 5.90% 6.15% ₹ 1,06,032 - ₹ 1,12,409
24 months to 35 months 6.15% 6.40% ₹ 1,12,983 - ₹ 1,20,345
36 months to 47 months 6.60% 6.85% ₹ 1,21,699 - ₹ 1,30,476
48 months to 59 months 6.60% 6.85% ₹ 1,29,933 - ₹ 1,39,646
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PNB Housing Finance Fixed Deposit Calculator

PNB Housing Finance 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 Housing Finance. Banks may allow a higher interest rate on larger deposits. PNB Housing Finance 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 Housing Finance 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 Housing Finance is 6.70% for deposit amount Up to Rs. 5 crore corresponding to a deposit tenure of 60 months to 120 months.
  • 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 5.90% for a 60 months FD and a rate of 6.70% for a 120 months 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 360 days at an interest rate of 5.90%. In this case, the maturity amount at the end of 360 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 Housing Finance 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 Housing Finance Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, PNB Housing Finance 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 Housing Finance cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is PNB Housing Finance FD Rate Calculated?

PNB Housing Finance 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 Housing Finance FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in PNB Housing Finance depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on PNB Housing Finance 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 Housing Finance FD for a 5-year tenure at an interest rate of 6.70% for depositors below 60 years and 6.95% for senior citizens.The maturity schedule of PNB Housing Finance FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 6.70% for Citizens below 60 years and at 6.95% 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 ₹ 6,870 ₹ 1,06,870 ₹ 7,133 ₹ 1,07,133
2023 ₹ 7,342 ₹ 1,14,212 ₹ 7,642 ₹ 1,14,775
2024 ₹ 7,847 ₹ 1,22,059 ₹ 8,187 ₹ 1,22,962
2025 ₹ 8,386 ₹ 1,30,445 ₹ 8,771 ₹ 1,31,733
2026 ₹ 8,962 ₹ 1,39,407 ₹ 9,397 ₹ 1,41,130

PNB Housing Finance 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 Housing Finance 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 Housing Finance fixed deposit?

You can earn a maximum interest of 6.70% on PNB Housing Finance fixed deposits.

How many years FD will double in PNB Housing Finance?

The growth of PNB Housing Finance 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 Housing Finance FD.You can also use PNB Housing Finance 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 Housing Finance.

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

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

Can I withdraw my premature FD from PNB Housing Finance?

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 4% on deposits upto 6 months and 1% for deposits above 6 months of FD amount for premature withdrawal.

How can I calculate PNB Housing Finance premature FD amount?

To calculate premature FD amount you can use PNB Housing Finance 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 Housing Finance News - Jan 2022
  • 2021-04-30 : PNB Housing Finance posted ₹127-cr net profit in Q4
    PNB Housing Finance reported a consolidated net profit of Rs 127 crore in Q4 backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during January-March was down at Rs 1,834 crore from Rs 1,952 crore in the same period of 2019-20. Interest income dropped over 7% at Rs 1,670 crore during the quarter as against Rs 1,803 crore a year earlier.
  • 2020-11-30 : Revised Fixed Deposit rates PNBHFL
    PNB Housing Finance changed its FD rates. The fixed deposit rate for 12 to 23 months is 5.90%, it is 6.15% for 24 to 35 months and it stands at 6.60% for 36 to 59 months. Further, FD rates 60 months to 120 months is 6.70%. The revised rates are in effect from 28 November 2020.
  • 2020-08-14 : PNB Housing Finance revised its Fixed Deposit rates
    PNB Housing Finance changed its FD rates. The fixed deposit rate for 12 to 23 months is 6.65%, it is 6.75% for 24 to 35 months and it stands at 6.90% for 36 to 59 months. Further, FD rates 60 months to 120 months is 7.00%. The rates vary by 50 bps for senior citizens. The revised rates are in effect from 14 August 2020.
  • 2020-03-12 : PNB Housing Finance revised its FD rates
    PNB Housing Finance changed its FD rates. The fixed deposit rate for 12 to 23 months is 7.50%, it is 7.65% for 24 to 59 months and it stands at 7.70% for 60 to 71 months. Further, FD rates 72 months to 120 months is 7.40%. The rates vary by .25% for senior citizens. The revised rates are in effect from 12 March 2020.
  • 2020-02-14 : PNB Housing revised its FD rates
    With effect from 14 February 2020, PNB Housing revised its FD rates. Fixed deposit rate for 12 to 35 months is 7.75%, for 36 to 47 months it is 7.95% and 48 to 71 months it is 7.80%. Further, the fixed deposit rate for 72 months to 120 months is 7.75%.
*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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