Punjab and Sind Bank Recurring Deposit Calculator
The Punjab & Sind Bank Recurring Deposit Calculator is a simple and effective online tool that helps individuals estimate the maturity amount and interest earned on their recurring deposit investments. By entering key details such as the monthly deposit amount, tenure, and applicable interest rate, users can quickly determine how much they will receive at the end of the deposit period. This Punjab & Sind Bank Recurring Deposit Calculator is especially useful for savers looking to plan their finances, set achievable goals, and make informed investment decisions without the need for complex manual calculations.
Benefits of Punjab & Sind Bank Recurring Deposit Calculator
- Easy to Use: The Punjab & Sind Bank Recurring Deposit Calculator allows users to quickly estimate the maturity amount by simply entering the monthly deposit, interest rate, and tenure—no need for complex math. This helps in understanding how your savings will grow over time.
- Saves Time and Effort: Instead of manually applying complicated formulas, the calculator gives instant results. This ease of use helps save time and minimizes the likelihood of mistakes.
- Better Financial Planning: By showing accurate projections of returns, the calculator helps users plan their savings goals more effectively, whether it's for education, travel, or an emergency fund.
- Compare Different Recurring Deposit Options: Users can input different tenures, deposit amounts, and interest rates to compare returns across various Recurring Deposit schemes, making it easier to choose the most suitable and profitable one.
- Completely Free and Reusable: Most Recurring Deposit calculators are freely available online and can be used multiple times. This makes it easier for investors to run various scenarios before making a decision.
Benefits of Punjab & Sind Bank Recurring Deposit
Punjab & Sind Bank offers a convenient and rewarding Recurring Deposit (RD) scheme that helps customers develop a disciplined saving habit while earning attractive interest over time. Here's a detailed look at its key features:
- Affordable Monthly Contributions - You can start your Recurring Deposit with a minimum deposit of just ₹10 per month, making it accessible to individuals across income levels. There is no upper limit, so you can invest as much as you wish based on your financial goals.
- Flexible Deposit Tenure - The Recurring Deposit account offers flexible investment durations, with deposit periods ranging from 6 months to a maximum of 10 years. This flexibility allows you to plan for both short-term and long-term financial needs, such as education, marriage, or home purchases.
- Attractive Interest Rates - Punjab & Sind Bank provides competitive interest rates on recurring deposits, compounded quarterly. This ensures better returns over time compared to a regular savings account.
- Loan/Overdraft Facility - Customers can avail of a loan or overdraft against their RD (up to a specified percentage of the deposit amount), offering liquidity in times of need without breaking the deposit.
- Nomination Facility Available - The bank offers a nomination facility, allowing you to assign a nominee who can claim the deposit amount in the event of your unfortunate demise.
- Safe and Secure Investment - As a government-owned bank, Punjab & Sind Bank ensures your Recurring Deposit is a secure and low-risk savings option, ideal for conservative investors.
- Senior Citizen Benefits - Senior citizens are eligible for additional interest rates on recurring deposits, enhancing their savings potential.
- Convenient Account Opening - You can open a Recurring Deposit account by visiting your nearest Punjab & Sind Bank branch. In some cases, online Recurring Deposit booking may also be available through the bank’s internet banking or mobile app.
Formula For Calculating Punjab & Sind Bank Recurring Deposit
Here is the formula used to calculate the maturity amount for a Punjab & Sind Bank Recurring Deposit (RD), which follows the standard RD formula used by most Indian banks:
Formula for Calculating Recurring Deposit Maturity Amount - M=P×2n(n+1)×12×100r+P×n
Where:
- M = Maturity amount
- P = Monthly deposit amount
- n = Number of months (tenure)
- r = Annual rate of interest (in %)
How to Use Wishfin Punjab & Sind Bank Recurring Deposit Calculator?
The Wishfin Punjab & Sind Bank Recurring Deposit Calculato r is a free and user-friendly online tool that helps you estimate your RD maturity amount with ease. Here’s how you can quickly and effectively use the calculator:
- Get Results Instantly - Click on the ‘Calculate’ button. The calculator will instantly display:
- Input the Interest Rate - Enter the applicable Recurring Deposit interest rate provided by Punjab & Sind Bank for your selected tenure. These rates can be found on the bank’s website or updated by the calculator automatically.
- Choose the Investment Tenure - Select the duration for which you want to invest—this can be anywhere between 12 months to 10 years, as offered by Punjab & Sind Bank.
- Enter Monthly Deposit Amount - Input the fixed amount you plan to deposit each month. This is the amount that will be debited from your account and added to your Recurring Deposit regularly.
-
Visit the Calculator Page -
Go to the official Wishfin Punjab & Sind Bank Recurring Deposit Calculator page.
- Total Investment (sum of monthly deposits),
- Interest Earned, and
- Maturity Amount (the final amount you’ll receive at the end of the tenure).
- Compare and Plan - You can modify the inputs—monthly amount, tenure, or interest rate—to run multiple scenarios. This helps in comparing different savings plans and choosing the most suitable option for your financial goals.
Punjab & Sind Bank Recurring Deposit Interest Rates
Find the table below for the latest Recurring Deposit interest rates offered by Punjab & Sind Bank -
(For Deposits Less Than ₹3 Crore | Revised w.e.f. 01/04/2025)
| Tenure | Interest Rate (% p.a.) |
|---|---|
|
7 – 14 Days |
3.50 (#) |
|
15 – 30 Days |
3.50 |
|
31 – 45 Days |
4.00 |
|
46 – 90 Days |
4.50 |
|
91 – 120 Days |
4.50 |
|
121 – 150 Days |
4.50 |
|
151 – 179 Days |
6.00 |
|
180 – 364 Days |
5.25 |
|
1 Year |
6.30 |
|
>1 Year – 374 Days |
6.00 |
|
375 Days |
7.25 |
|
376 – 443 Days |
6.00 |
|
444 Days |
7.10 ($) |
|
445 Days – < 22 Months |
6.00 |
|
22 Months (PSB Green Earth) |
6.10 (*) |
|
>22 Months – < 2 Years |
6.00 |
|
2 Years – 776 Days |
6.30 |
|
777 Days |
6.50 ($) |
|
778 – 998 Days |
6.30 |
|
999 Days (Callable) |
6.35 ($) |
|
999 Days (Non-Callable)* |
6.40 ($) |
|
1000 Days – < 3 Years |
6.30 |
|
3 Years – < 44 Months |
6.00 |
|
44 Months (PSB Green Earth) |
6.10 (*) |
|
>44 Months – 5 Years |
6.00 |
|
5 Years |
6.50 |
|
>5 Years – < 66 Months |
6.25 |
|
66 Months (PSB Green Earth) |
6.35 (*) |
|
>66 Months – 10 Years |
6.25 |
Legends:
- (#) – Special short-term rate
- ($) – Higher special rate for select tenures
- (*) – Applicable to the “PSB Green Earth” fixed deposit scheme
Note:
- Senior Citizens (60 years & above) receive an additional 0.50% interest on deposits below ₹3 crore for tenures 180 days & above (excluding NRE/NRO, capital gain, and bulk deposits).
- Super Senior Citizens (80 years & above) get an extra 0.15% over the senior citizen rate on specific tenures (333, 444, 555, 777, 999 days & PSB Green Earth – 22M, 44M, 66M) for deposits below ₹3 crore.
Conclusion
The Punjab & Sind Bank Recurring Deposit Calculator is a smart and convenient tool that simplifies financial planning by giving you quick and accurate estimates of your RD maturity amount. Whether you're saving for a short-term goal or building a long-term financial cushion, this calculator helps you understand the returns based on your monthly deposit, tenure, and applicable interest rates.
By using this tool, you can make well-informed decisions, compare different saving scenarios, and choose an RD plan that aligns perfectly with your financial objectives—all without the hassle of manual calculations. It's easy, efficient, and completely free to use.
Frequently Asked Questions (FAQs)
