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PNB FD Calculator 2023

The PNB FD calculator is a simple online tool to help you calculate your fixed deposit maturity amount across tenures with the Punjab National Bank. To calculate the FD maturity value, the PNB FD calculator considers the principal amount, the tenure and the applicable interest rate. It then shows the estimated returns on your FD investment in just a few seconds.

Total Investment

Rate of Interest (P.a)

%

Time Period (Years)

Invested Amount

0

Est. Returns

Total Value

How to Use PNB Fixed Deposit Calculator?

With the PNB FD calculator, you can calculate the returns and the maturity amount of your fixed deposit with the Punjab National Bank. To estimate the total amount, you need to input certain information. Follow the three simple steps stated below to check the returns on your FD using the PNB Bank Fixed Deposit Rates Calculator:
  • Step 1 : Input the total amount of fixed deposit investment
  • Step 2 :Input the applicable rate of interest (p.a.)
  • Step 3 : Input the duration of your fixed deposit investment in years
Once all three pieces of information are provided, the calculator will instantly provide you with estimated returns on your FD along with its maturity value.

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PNB FD Interest and Maturity Amount Calculation Formula

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

Benefits of Using PNB Fixed Deposit Interest Calculator

PNB Bank Fixed Deposit rates calculator offers a range of benefits to investors. Some of them are discussed as follows:

User-friendly tool

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.

Financial planning

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.

Accurate and quick results

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.

Completely free

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.

Frequently asked questions

PNB Fixed Deposit calculator is accessible to all, including Non-Resident Individuals (NRIs).
You can use our PNB Fixed Deposit Calculator. You can also visit the official website of Punjab National Bank and use the PNB FD rates calculator to calculate the returns and maturity value of your investment. Both calculators provide accurate and quick results.
PNB has revised its rates of interest from February 2023. The revised rates of interest applicable from 20th February 2023 for the tenure of 1 year is 6.80% for non-senior citizens, 7.30% for senior citizens, and 7.60% for super senior citizens.
The highest interest rate for fixed deposits with Punjab National Bank is 8.05% (Super senior citizen fixed deposit for 666 days).
Senior citizens holding PNB FD accounts can get a 0.5% higher interest rate than non-senior citizens, and super senior citizens holding PNB FB accounts can get a 0.8% higher interest rate than non-senior citizens.
Disclaimer : Navi does not guarantee accuracy, completeness, or correct sequence of any of the details provided therein and therefore no reliance should be placed by the user for any purpose whatsoever on the information contained/data generated herein or on its completeness/accuracy. The use of any information set out is entirely at the User’s own risk.

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What is PNB Fixed Deposit Interest Rate in 2023?

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:

  • Interest Rate: 5% to 8.05%
  • Tenure: 7 days to 10 years
  • Minimum Deposit: ₹10,000
  • Maximum Deposit: No Upper Limit
  • Lock-in Period: NA (5 years for PNB Tax Saver Fixed Deposits)

Ways to Calculate PNB Fixed Deposit Interest and Maturity Amount

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

How Can PNB FD Calculator Help You?

How Can PNB FD Calculator Help You?
  • Accurate results : The PNB FD calculator is an error-free online tool. So, you can find near-accurate maturity and interest earnings estimates without the possibility of manual error.
  • Convenience : You don’t have to do mathematical calculations to find the maturity value and interest income. The calculator does that for you, and that too within minutes. This saves you time and effort.
  • Helps in financial planning : Knowing the amount you will receive on maturity can help you plan for your financial goals. You can check the maturity and interest income and then design your investment strategy accordingly.

Factors that Can Affect PNB Fixed Deposit Maturity Amount Calculation

The PNB FD calculator takes several details into consideration when calculating the maturity value and interest income. Below are some factors that affect the maturity value calculation
  • Invested amount: The invested amount directly impacts the maturity amount. The higher your investment, the higher the maturity amount.
  • Interest rate: The interest rate also impacts the maturity value. The higher the interest rate, the higher the maturity value, and vice versa.
  • Deposit tenure : Different tenures have different interest rates. Usually, higher tenures can fetch higher interest rates, thereby giving high maturity values. Moreover, as the tenure is higher, the interest is compounded more, and the maturity value grows.
  • Frequency of compounding : Under some schemes, the interest can compound half-yearly or quarterly. This frequency also impacts the maturity calculation. The higher the frequency, the higher the maturity value, and vice versa.
  • Premature withdrawals: Premature withdrawals (withdrawing from the fixed deposit scheme before the completion of the tenure) can attract a penalty that may reduce the maturity value.
  • Investor’s age : Punjab National Bank offers preferential FD rates for senior citizens (i.e. investors above the age of 60) and super senior citizens (i.e. above the age of 80). A higher interest rate would translate to a bigger FD maturity amount.
Calculate your FD interest income and maturity value instantly using our PNB FD Calculator. The user-friendly interface and near-accurate estimates can help you make informed decisions.
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