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# PNB RD Calculator

Punjab National Bank (PNB) offers a lot of recurring deposit options from which you can choose. With the PNB RD calculator, you can easily calculate the interest on your deposit amount. Once you key in details like tenure, investment amount, and rate of interest, the PNB RD calculator will automatically give you the interest amount.

## PNB RD Interest Rates

Tenure Interest rate of general public (p.a.) Interest rate of senior citizens (p.a.)
180 days to 270 days 5.50% 6.00%
271 days to 364 days 5.60% 6.10%
1 year 5.80% 6.30%
1 year and 1 day to 3 years 5.80% 6.30%
3 years and 1 day to 5 years 5.80% 6.30%
5 years and 1 day to 10 years 5.80% 6.30%

## How do you Calculate Your Maturity Amount Using the PNB RD Calculator?

You can easily calculate your maturity amount by entering details like tenure, monthly investment amount, and the rate of interest rate into the PNB RD calculator.

Your compound interest on a recurring deposit with PNB is added after the first quarter has been completed.

Quarter 1- April to June

Quarter 2- July to September

Quarter 3- October to December

Quarter 4- January to March

The formula which is used for calculating the recurring deposit interest is:

M=R[(1+i) (n-1)]/1-(1+i)(-1/3))

• M is the maturity value
• R represents the monthly Installment
• i is the rate of interest divided by 4
• n is the tenure (in quarters)

Here is an example to give you a better understanding:

Let us assume that you open an RD account with PNB and your monthly deposit is Rs.2,000 for a period of 2 years. The interest rate offered by the bank is 7%. Let us now put these values into the formula:

M = 2000[(1+7/400)(8-1)]/1-(1+7/400)(-1/3)

M = Rs. 51,640

Factors Which will Affect Your RD Earnings

 Tenure The time period for which you invest your money will affect the interest rate of your recurring deposit. Age A lot of financial institutions and banks offer customers a higher interest rate to senior citizens. If you are a senior citizen, you can earn 0.50% to 0.75% additional interest. Current Economic Environment The interest rates provided by banks on their recurring deposits depend on the changes in the economic environment. Factors like inflation will affect the interest rate. Repo Rate The repo rate is the rate at which the commercial banks borrow from the Reserve Bank of India (RBI). A reduction in the repo rate will mean that the banks will reduce their interest rate for recurring deposits.

### Why Choose PNB RD Calculator?

• You do not have to carry out any hefty and complicated calculations for finding out the maturity value of your recurring deposit.
• Get quick results with just a few clicks.
• This is an easy-to-use online tool and you can use it multiple times.

## FAQs on PNB RD Calculator

1. What is the minimum amount of deposit I should put in for opening a recurring deposit account with PNB?
2. You should deposit a minimum of Rs.100 for opening a recurring deposit account with PNB.

3. What will be the highest interest rate offered by PNB on my recurring deposit?
4. You can earn a maximum interest rate of 5.80% on a recurring deposit with PNB.

5. When will I get the interest on my PNB recurring deposit account?
6. If there is a periodic payout option that has been determined by you, the bank will transfer the interest amount that you have accumulated over the tenure to your bank account.

## RD Article Pages

Recurring Deposit Pages

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