PNB Recurring Deposit (RD) Calculator is for calculating the maturity amount of Recurring Deposit saving invested in Punjab National Bank for a specified period.
Recurring Deposits are a special kind of Term Deposit offered by Punjab National Bank (PNB) which helps people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.
This PNB RD calculator requires some data like – Your Monthly Deposit Amount, Rate of Interest of your bank, Period (in No. of Months), interest Compounding Frequency. After calculation, you will get the Maturity Amount after the maturity period and Effective yield in %.
Latest PNB RD Interest Rate:
| Bank Name | Tenors | Rates For Public | Rates for Senior Citizens | As on Date |
|---|---|---|---|---|
| PNB | 180 days to 270 Days | 4.4 | 4.9 | 2021-11-25 |
| PNB | 271 days to less than 1 year | 4.4 | 4.9 | 2021-11-25 |
| PNB | 1 year | 5 | 5.5 | 2021-11-25 |
| PNB | above 1 year & upto 2 years | 5 | 5.5 | 2021-11-25 |
| PNB | above 2 year & upto 3 years | 5.1 | 5.6 | 2021-11-25 |
| PNB | above 3 year & upto 5 years | 5.25 | 5.75 | 2021-11-25 |
| PNB | above 5 years & upto 10 years | 5.25 | 5.75 | 2021-11-25 |
PNB RD Calculator Variables:
This recurring deposit (RD) calculator for PNB RD uses five different investment variables that most of the calculator requires. These saving calculator variables are:
Monthly Deposit Amount: This is a fixed monthly amount that is invested in an RD scheme. This deposit amount varies from person to person and scheme to scheme.
Rate of Interest: The Rate of Interest is the variable of the RD calculator that appears as a percentage and is different for different types of saving options.
Period of Investment: The length of the investment or period for the investment in months is another factor that plays a major role in the RD calculator. The longer investment increases the compounding of the returns and hence greater rewards are generated.
Maturity Amount: The desired or required amount that an investor wants at the end of the investment life cycle is known as the final amount or maturity amount.
Effective yield: The effective yield is that variable of the RD calculator that appears as a percentage and is used to compare the effectiveness of different types of saving options. This saving variable matters the most to the investors.
How PNB RD Calculator Works?
Anyone can calculate his saving returns from the Punjab National Bank (PNB) account through an online RD calculator available on this page with high accuracy.
Following are the steps to calculate the RD returns through this calculator:
- Step 1: Enter the fixed monthly amount that he wants to deposit every month.
- Step 2: After this, fill the rate of interest that he gets from his bank or financial institution for the specified period. Different banks or financial institutions offer different rates of interest-based on the amount of investment and period of investment.
- Step 3: The next step that one has to follow is to select the period for saving in months. It depends on saving option requirement for which he wants to stay invested.
- Step 4: Thereafter choose the frequency of compounding. The frequency of compounding may be monthly, quarterly, half-yearly, or yearly.
- Step 5: After submitting all variables required by an RD calculator, one will get the final maturity amount for investment query with effective yield.
Punjab National Bank (PNB) Recurring Deposit (RD)
A Punjab National Bank (PNB) Recurring Deposit (RD) account offers a monthly investment option with a handsome return at the end of specified years with an option to extend the accounting period. It gives you a higher rate of interest than a savings bank account.
Recurring Deposits are a special kind of Term Deposits offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits.
It is similar to making FDs of a certain amount in monthly installments. Thus, Recurring Deposit schemes allow customers with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time.
Click Here for PNB Saving Account Calculator
Click Here for PNB FD Calculator
Features of PNB RD Schemes:
- Individual (singly or jointly) with others.
- Minor who have attained the age of 10 years and above in his/her own name on giving proof of age.
- Minors below the age of 10 years under the guardianship of Natural/legal guardian.
- Proprietorship/Partnership Firm, Commercial Organization, Company / Corporate Body
- Hindu Undivided Family
- Association, Club, Society, Trust or Religious/Charitable Educational Institutions,
- Municipality or Panchayat, Government, or Quasi-Government body.
- Illiterate and blind persons can also open accounts.
- 100/- and in multiples thereof
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Latest PNB RD Interest Rate: Click Here
Terms & Conditions of PNB RD Schemes:
- Period of RD – 6 months to 120 months in multiple of 1 month
- Payment of RD will be due on maturity or one month after the deposit of the last installment, whichever is later. Irregular/Discontinued RD Account
- Non-deposit of pending installments till maturity date, interest will be paid on daily products basis compounded half-yearly.
- Depositing of pending installments before the maturity date, a penalty will be charged @ Rs.1.00 for Rs.100/- p.m.
- Loan/ Overdraft against deposit is available. For detail, please refer to loan against term Deposit
- The rate of interest would be Card rate as applicable to the tenor of deposit as displayed on the website, subject to change from time to time.
- Nomination facility is available.
- TDS is applicable as per rules. The Bank will issue a TDS Certificate for the tax deducted.
Eligibility for Punjab National Bank (PNB) Recurring Deposit (RD):
Below are the individuals and groups eligible for a Regular Punjab National Bank (PNB) Recurring Deposit (RD):
- Residents
- Hindu undivided families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
You are here to calculate the maturity value of your money in PNB’s Recurring Deposit (RD) account. Calculate the maturity value with this online PNB RD calculator.
(Calculate your Punjab National Bank Recurring Deposit (RD) maturity amount by using this PNB RD Calculator)
