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Punjab and Sind Bank FD Calculator

Punjab and Sind Bank Fixed Deposit Calculator 2020

Last Updated 19th Aug 2020

Punjab and Sind Bank FDs have tenures ranging from 1 year to 10 years with maximum rate of interest of 5.55%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.05%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 3.50% to 4.00% ₹ 1,00,067 - ₹ 1,00,153
15 days to 30 days 3.50% to 4.00% ₹ 1,00,144 - ₹ 1,00,329
31 days to 45 days 3.50% to 4.00% ₹ 1,00,297 - ₹ 1,00,493
46 days to 90 days 4.25% to 4.75% ₹ 1,00,536 - ₹ 1,01,171
Punjab and Sind Bank FD Maturity Calculator
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Punjab and Sind Bank Fixed Deposit Calculator

Punjab and Sind Bank 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 Punjab and Sind Bank. Bank may allow higher interest rate on larger deposits. Punjab and Sind Bank 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. Punjab and Sind Bank 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 Punjab and Sind Bank is 5.55% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 1 year 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 3.50% for a 1 year FD and a rate of 5.55% 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
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.50%. 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.

      Punjab and Sind Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Punjab and Sind Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, Punjab and Sind Bank 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 Punjab and Sind Bank 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 Punjab and Sind Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Punjab and Sind Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of Punjab and Sind Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in Punjab and Sind Bank 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 Punjab and Sind Bank 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

Punjab and Sind Bank 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 Punjab and Sind Bank 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 Punjab and Sind Bank fixed deposit?

You can earn a maximum interest of 5.55% on Punjab and Sind Bank fixed deposit.

How is Punjab and Sind Bank FD interest calculated?

The formula to calculate interest on Punjab and Sind Bank 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 Punjab and Sind Bank?

The growth of Punjab and Sind Bank 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 Punjab and Sind Bank 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 Punjab and Sind Bank.

What are the minimum and maximum amounts that I can invest in an Punjab and Sind Bank FD?

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


Punjab and Sind News - Sep 2020
  • 2020-03-20 : Punjab and Sind Bank revised its FD rates
    Punjab and Sind Bank changed its fixed deposit rates with effect from 18 March 2020. The FD rates for 7 to 45 days is 4%, for 46 to 90 days it is 5.50% and it is 5.75 % for 91 to 120 days. The fixed deposit rate for 121 to 179 days is 5.50%. Further, the FD rate for 180 to 364 days is 6%, for one to two years is 6.10% and it stands at 6.10% for above two years to ten years.
  • 2019-12-05 : Punjab and Sind Bank revised FD rates for December
    Punjab and Sind Bank changed FD rates on certain tenors with effect from December 2, 2019. The rate has been across a period of 1 year to 2 years, which is revised to 6.45% and for senior citizens at 6.95%. For the rest of the tenors, the rate remains unchanged between 4% to 6.45%.
  • 2019-10-22 : Punjab and Sind Bank revises FD rates for October
    Punjab and Sind Bank revised its interest rates on fixed deposits less than Rs 2 crores. The revised FD rates for a period of 7-45 days is 4.00%, for 46-90 days the interest rate is 5.50%, the rate for 91-120 days is 5.75%, for 121-150 days the rate is 6.00%, the rate for 151-179 days is 5.85% and for 180- 364 days the revised rate is 6.40%. For a long period of 1-2 years, the rate is 6.55%, and the rate for 2-10 years is 6.45%.
  • 2019-01-17 : Punjab & Sind Bank revises interest rate on fixed deposits by 15 basis points
    Punjab & Sind Bank has revised the interest rate of fixed deposits on January 11, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 180 to 269 days period has been hiked to 6.40% from 6.25 earlier. While the rates for 46 to 90 days have been hiked to 5.50% and the rate for one year is 7.00% respectively.
*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