Navi Calculator Punjab National Bank (PNB) FD Calculator 2023
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PNB interest rate and maturity value can be calculated using these two methods: simple interest and compound interest.
Let us first understand the simple interest method.
The interest rate and maturity value of FD can be calculated using the following simple interest calculation formula:
Simple Interest = (P * R * T)/100
Here,
P= Principal
R= Rate of interest
T = Tenure
Let’s take a simple example. Suppose you open a fixed deposit with Punjab National Bank of ₹10,00,000 for a tenure of 2 years at an interest rate of 6.80%.
Then, in this example, P = ₹10 lakh, R = 6.80% and T = 2 years.
Simple Interest = (10, 00,000 * 6.80 * 2) /100 = ₹1,36,000
Maturity Amount = Principal Amount + Simple Interest = ₹10, 00,000 + ₹1, 36,000
Hence, your FD maturity value would be ₹11, 36,000
Now, Let us understand the calculation of interest and maturity amount through the Compound interest method.
The formula for Interest and Maturity Amount Calculation through the Compound Interest method is:
A = P (1+r/n) ^ (n * t)
Here, M= Maturity Value of the FD
P = Principle
r = Rate of Interest
t = Tenure
n = Number of compounding in a year (prioritise)
Let us take the same example to understand the compound interest method. Let’s assume you open a fixed deposit with Punjab National Bank of ₹10,00,000 for a tenure of 2 years at an interest rate of 6.80% to be compounded half-yearly.
Then, in this example, P = ₹10 lakh, R = 6.80%, and T = 2 years, and the number of compounding in a year is 2.
A = 10, 00,000 (1+0.068/2) ^ (2*2)
Maturity Amount = ₹11, 43,095
Interest amount = ₹11, 43,095– ₹10, 00,000 = ₹1,43,095
PNB interest rate and maturity value can be calculated using these two methods: simple interest and compound interest.
Let us first understand the simple interest method.
The interest rate and maturity value of FD can be calculated using the following simple interest calculation formula:
Simple Interest = (P * R * T)/100
Here,
P= Principal
R= Rate of interest
T = Tenure
Let’s take a simple example. Suppose you open a fixed deposit with Punjab National Bank of ₹10,00,000 for a tenure of 2 years at an interest rate of 6.80%.
Then, in this example, P = ₹10 lakh, R = 6.80% and T = 2 years.
Simple Interest = (10, 00,000 * 6.80 * 2) /100 = ₹1,36,000
Maturity Amount = Principal Amount + Simple Interest = ₹10, 00,000 + ₹1, 36,000
Hence, your FD maturity value would be ₹11, 36,000
Now, Let us understand the calculation of interest and maturity amount through the Compound interest method.
The formula for Interest and Maturity Amount Calculation through the Compound Interest method is:
A = P (1+r/n) ^ (n * t)
Here, M= Maturity Value of the FD
P = Principle
r = Rate of Interest
t = Tenure
n = Number of compounding in a year (prioritise)
Let us take the same example to understand the compound interest method. Let’s assume you open a fixed deposit with Punjab National Bank of ₹10,00,000 for a tenure of 2 years at an interest rate of 6.80% to be compounded half-yearly.
Then, in this example, P = ₹10 lakh, R = 6.80%, and T = 2 years, and the number of compounding in a year is 2.
A = 10, 00,000 (1+0.068/2) ^ (2*2)
Maturity Amount = ₹11, 43,095
Interest amount = ₹11, 43,095– ₹10, 00,000 = ₹1,43,095
PNB Bank FD calculator is a user-friendly tool that involves no cumbersome process. It offers a simple and hassle-free way to calculate the returns and maturity value of your fixed deposits.
Punjab National Bank FD calculator enables you to plan your finances and make informed decisions. Also, the PNB FD interest rates calculator allows you to compare different interest rates and tenures to plan your investments effectively.
Manual calculation is subject to human error. PNB FD interest calculator is designed to provide not only fast but also accurate results in a fraction of a second.
You don't have to pay to use this online tool. It can be accessed by anyone multiple times. All you need to do is fill in the correct values, and you can get the estimated results quickly.
Jan 1
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
Jan 22
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Feb 18
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.
Jan 1
Fixed deposits are popular saving instruments that allow you to earn interest for depositing an amount for a fixed period.
Jan 22
A fixed deposit (FD) is a type of savings scheme that provides higher interest rates compared to a bank savings account.
Feb 18
Tax-saver FDs are fixed deposits that offer tax deductions through Section 80C of the Income Tax Act.
PNB FD interest rate ranges from 3.50% to 8.05% (including the scheme for super senior citizens). The rate of interest applicable varies on the principal amount and the tenure of the fixed deposit. Let’s take a look at the highlights of PNB Bank FD interest rates:
There are two ways to calculate the interest rate and maturity value of PNB Bank FD: simple interest method and compound interest method.
Let us first understand the simple interest method.
The interest rate and maturity value of FD can be calculated using the following simple interest calculation formula:
Simple Interest = (P * R * T)/100
Here, P= Principal of the Fixed Deposit
R= Rate of interest (%) of the Fixed Deposit
T = Tenure the Fixed Deposit
Let’s take a simple example. Suppose you open a fixed deposit with Punjab National Bank of ₹5,00,000 for a tenure of 2 years at an interest rate of 6.80%.
Then, in this example, P = ₹5 lakh, R = 6.80%, and T = 2 years.
Simple Interest = (5,00,000 * 6.80 * 2) /100 = ₹68,000
Maturity Amount = Principal Amount + Simple Interest = ₹5,00,000+ ₹68,000 = ₹5,68,000
Hence, your FD maturity value would be ₹5,68,000
Now, let us understand the calculation of interest and maturity amount through the compound interest method.
The formula for Interest and Maturity Amount Calculation through the Compound Interest method is:
A = P (1+r/n) ^ (n * t)
Here, M= Maturity value
P = Principle amount
r = Rate of Interest
t = Tenure
n = Number of compounding in a year
Let us take the same example to understand the compound interest method. Let’s assume you open a fixed deposit with Punjab National Bank of ₹6,00,000 for a tenure of 2 years at an interest rate of 6% to be compounded half-yearly.
Then, in this example, P = ₹6 lakh, R = 6%, and T = 2 years, and the number of compounding in a year is 2.
A = 6,00,000 (1+0.06/2) ^ (2*2)
Maturity Amount = ₹6,75,305
Interest amount = ₹6,75,305 – ₹6,00,000 = ₹75,305