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PNB Housing Finance FD Calculator

PNB Housing Finance Fixed Deposit Calculator 2020

Last Updated 10th Sep 2020

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 7.20%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
12 months to 23 months 6.20% to 6.70% ₹ 1,06,346 - ₹ 1,13,582
24 months to 35 months 6.45% to 6.95% ₹ 1,13,652 - ₹ 1,22,258
36 months to 47 months 6.60% to 7.10% ₹ 1,21,699 - ₹ 1,31,738
48 months to 59 months 6.60% to 7.10% ₹ 1,29,933 - ₹ 1,41,343
PNB Housing Finance FD Maturity Calculator
Investment Offers with High Returns offerOffers
Bank/NBFCs Rate Tenure Action
Bajaj Finance FD7.35%60 MonthsAPPLY
PNB Housing Finance FD7.20%120 MonthsAPPLY
DBS Bank Savings Account5.00%N.A.APPLY

PNB Housing Finance Fixed Deposit Calculator

PNB Housing Finance fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at 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. Bank may allow higher interest rate on larger deposits. PNB Housing Finance offers deposit amount in the range of 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 6.20% 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
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 360 days at an interest rate of 6.20%. 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 tax saving scheme to save tax on fixed deposit.

PNB Housing Finance Fixed Deposit Interest Calculator – Interest Payment Options

  • 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.
  • 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.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

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. The interest rates for senior citizens are higher than normal rates of PNB Housing Finance FD.

Suppose if you make an investment of ₹ 1,00,000 in PNB Housing Finance FD for a 5-year tenure at an interest rate of % for depositors below 60 years and % for senior citizens. The maturity amount for this deposit amount is ₹ 1,00,000 and the total interest earned is ₹ 0 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 0 which is higher. 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 % for Citizens below 60 years and at % 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
2020 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2021 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2022 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2023 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2024 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000
2025 ₹ 0 ₹ 1,00,000 ₹ 0 ₹ 1,00,000

PNB Housing Finance FD Calculator Formula

Along with 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

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 deposit.

How is PNB Housing Finance FD interest calculated?

The formula to calculate interest on PNB Housing Finance FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

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. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. 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.


PNB Housing Finance News - Sep 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%.
  • 2020-01-06 : Revised Fixed Deposit rates by PNB Housing Finance
    With effect from January 6, 2019, PNB Housing Finance revised its interest rates on Fixed Deposits. The revised rate for 12-35 months is 8.00%; the rate for 36-59 months is 8.10%; for 60 months to 84 months, the rate is 8.15%; and for 120 months, the new FD rate is 8.00%. In addition to this, the rates for senior citizens differ by an additional 25 basis points.
  • 2019-07-24 : PNB Housing Finance is looking to raise tier-I capital by issue of equity shares
    In a bid to augment its capital base and support business growth, PNB Housing Finance is looking to raise tier-I capital by issue of equity shares. Also, the lender has plans to achieve significant growth across its retail loan segment including home loans, mortgage loans, and deposits this year.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More