Fixed Deposit Calculator is a tool which helps to calculate the amount of interest that you can earn by investing in any particular Fixed Deposit plan for a fixed tenure at the time. To calculate the rate of interest, you only need to provide all the important information relating to your Fixed Deposit plan and then you can easily calculate the rate of interest online. An online fixed deposit calculator is specifically made to find out the maturity amount by calculating the sum after applying compound interest on a monthly, quarterly, half-yearly or annual basis as per your FD plan.
Different banks/NBFCs have different fixed deposit interest rates that vary accordingly. Most of the leading private banks in India provide a pretty good interest rate in the market. PNB Housing Finance FD ratesrange up to 7.50% on its Fixed deposits. It is also important to remember that the fixed Deposit maturity amount that you are likely to get will majorly depend upon the following:
- The amount that you deposit.
- Rate of interest
- Tenure of the fixed deposit
- The compounding frequency
- The TDS rate and the TDS applicability.
FD calculator in PNB Housing Finance
- When you opt for a periodic interest payout option, PNB Housing Finance transfers the interest earned by you at each interval that you selected i.e., monthly, quarterly, annual, etc. to your bank account. The interest does not change throughout the life of the deposit. Only at the time of maturity, the bank transfers the principal amount to your bank account if you do not wish to renew the amount of deposit.
- If you further wish to opt for a cumulative fixed deposit offer provided by PNB Housing Finance, you will receive credit for the principal amount which you deposited earlier only at the time of maturity along with the interest earned a net of TDS.
- After following all these procedures, you can easily calculate the fixed deposit rate of interest and maturity amount using any Fixed Deposit calculator.
Online FD calculator
To calculate your FD online, you can visit the bank’s web portal and go to FD calculator.
- Choose the type of customer that you are. If your age is beyond 60, select ‘Senior Citizen’.
- ● Select the type of fixed deposit that you wish to invest in: cumulative, quarterly, monthly or short term FD. The payout will be made after the period of the type that you chose here.
- Input the amount of deposit that you wish to make.
- Then select the details of your tenure: Years/months/days or if you want the deposit for several days only.
- Select the exact years/months or days for your FD.
The PNB Housing Finance FD rates in August 2020 are as follows: