PNB RD Calculator 2023
PNB RD calculator helps you estimating the interest and maturity amount when you invest in Punjab Nation Bank recurring deposit schemes. Input monthly deposit amount, latest PNB RD interest rate and investment tenure to calculate and plan your savings.
Check: PNB RD Interest Rates 2023
|PNB RD Calculator||Inputs|
|Interest Rate||6.50% p.a.|
What is PNB RD Calculator?
PNB RD Calculator is an online tool that you can use to estimate the interest earned by investing in a recurring deposit. The maturity amount for a recurring deposit is the sum total of all investments, plus the interest earned during the investment period. Also, RD interest gets compounded every quarter. Therefore, the RD calculator automatically computes the maturity amount and wealth gained from the monthly RD investments.
PNB RD Calculator Requirement
The recurring deposit calculator works on the following inputs:
- Monthly deposit amount: The monthly investment amount in an RD account.
- Interest rate: The interest income from RD investments. PNB determines the RD interest rates.
- RD term: The tenure of the recurring deposit investment(in years).
PNB RD Maturity Value Calculation
With the given inputs, the PNB RD calculator determines the following values:
- Total investment: Sum of all monthly deposits in the RD scheme.
- Wealth Gained: The total interest income from recurring deposits.
- Total Corpus created: You can expect the maturity value from your PNB RD investment.
PNB Bank Calculators
How to use the PNB RD Calculator?
You can use the PNB RD calculator online for free. To use the calculator, you must visit the Scripbox website. Then enter the monthly investment amount, investment tenure and RD interest rate. Finally, the calculator will compute the wealth gained and the maturity amount at the end of the tenure.
The following example helps in understanding the PNB Recurring Deposit Calculator better.
Ms Kalpana plans to invest INR 10,000 per month in a recurring deposit scheme for ten years. The deposit rate is 6.10% p.a.
The following outputs are displayed based on inputs provided –
Total Investment: INR 1,200,000
Wealth Gained: INR 453,286
Total Corpus Created: INR 1,653,256
Therefore, Ms Kalpana’s potential return for PNB RD is INR 1,653,256, and the interest income will be INR 453,286