Punjab National Bank Recurring Deposit Calculator
The Punjab National Bank Recurring Deposit Calculator (PNB) is a free online tool that helps you estimate the maturity amount of your recurring deposit. By entering your monthly deposit, tenure, and applicable interest rate, you can instantly know how much you’ll earn at the end of the investment period, making it easier to plan your savings goals effectively.
Benefits of Punjab National Bank Recurring Deposit Calculator
- Quick & Accurate Estimates - Instantly calculates the maturity amount and interest earned, helping you avoid manual errors and complex calculations.
- Easy Financial Planning - Helps you plan your savings goals effectively by showing how much you'll accumulate over a chosen period.
- User-Friendly Interface - Simple to use—just input your monthly deposit, tenure, and interest rate to get instant results.
- Time-Saving Tool - Saves valuable time by eliminating the need for manual formula-based calculations.
- Compare Investment Options - Allows you to try different deposit amounts and tenures to compare outcomes and choose the best plan for your needs.
- Free & Accessible Anytime - The PNB Recurring Deposit Calculator is available online 24/7 at no cost and can be used as many times as needed.
Key Features - Punjab National Bank (PNB) Recurring Deposit
The Punjab National Bank (PNB) Recurring Deposit Scheme is a flexible and inclusive savings option designed for a wide range of individuals and entities. Below are the individuals and entities eligible to open a Recurring Deposit (RD) account, along with the main eligibility criteria:
- Eligible Individuals & Entities:
- Individuals : Single or joint account holders are allowed.
- Minors (Aged 10 and Above) : Can open an account in their name upon providing valid age proof.
- Minors (Below 10 Years) : Can have an RD account opened under the guardianship of a natural or legal guardian.
- Business Entities : Proprietorships, partnership firms, commercial organizations, companies, and corporate bodies are eligible.
- Hindu Undivided Family (HUF) : Members of an HUF can open RD accounts.
- Institutions and Associations : Associations, clubs, societies, trusts, and religious or charitable educational institutions can open accounts.
- Government Bodies : Municipalities, panchayats, and other government or quasi-government bodies are also eligible.
- Illiterate and Visually Impaired Individuals : PNB ensures financial inclusion by allowing illiterate and visually impaired persons to open and operate RD accounts.
- Minimum Deposit Requirement:
- The Recurring Deposit account can be started with a minimum deposit of ₹100, and subsequent deposits must be in multiples of ₹100.
- There is a maximum deposit cap, as per bank guidelines (check with the bank for current limits).
This Recurring Deposit scheme by Punjab National Bank is suitable for anyone looking to build a disciplined savings habit while earning attractive returns.
How to Use Wishfin PNB Recurring Deposit Calculator?
The Wishfin PNB Recurring Deposit Calculator is an easy-to-use tool that helps you estimate your RD maturity amount with just a few inputs. Here’s how to use it:
- Visit the Calculator Page - Go to the official Wishfin Punjab National Bank (PNB) Recurring Deposit Calculator section.
- Enter Monthly Deposit Amount - Input the amount you intend to deposit every month into your Recurring Deposit account.
- Choose the Tenure - Select the duration of your recurring deposit, ranging from 6 months to 10 years, as offered by Punjab National Bank.
- Input the Interest Rate - Enter the current PNB Recurring Deposit interest rate applicable to your selected tenure.
- Automatic Display- The calculated amount will be displayed on the right side of the page after entering the figures and amounts, and that will include -
- Total investment
- Interest earned
- Maturity amount
- Compare and Plan - Try different combinations of deposit amounts, tenures, or interest rates to compare returns and choose a plan that best fits your financial goals.
Using this PNB Recurring Deposit Calculator tool is a great way to visualize your savings growth and make informed decisions.
Formula For Calculating Punjab National Bank Recurring Deposit
Below is the commonly used formula to determine the maturity amount of a Punjab National Bank (PNB) Recurring Deposit (RD):
- PNB RD Maturity Amount Formula - M=P×(2n(n+1))×12×100r+P×n
Where:
- M = Maturity amount
- P = Monthly deposit amount
- n = Number of months (tenure)
- r = Annual interest rate (%)
Conclusion
The Punjab National Bank Recurring Deposit Calculator is a practical and efficient tool for anyone looking to plan their savings with confidence. It simplifies the process of estimating your RD maturity amount by providing accurate results based on your monthly deposit, tenure, and applicable interest rates. Whether you’re saving for short-term goals or long-term financial stability, the calculator helps you visualize your returns instantly, eliminating guesswork and manual errors.
With its ease of use, time-saving features, and ability to support better financial planning, the PNB RD Calculator is an excellent companion for smart savers and investors alike.
Frequently Asked Questions (FAQs)
