PNB RD Calculator

Recurring Deposits (RD) are among the safest and most preferred investment forms. They are fixed-income investments that come with assured returns and low risk. However, you must determine the maturity amount and the interest income before starting a recurring deposit. The PNB RD calculator will help you ascertain the returns on your recurring deposit with Punjab National Bank (PNB).

With the Angel One online PNB RD calculator, you can easily calculate the maturity amount and the interest income by entering variables like interest rate, monthly investment amount and tenure. You can also use this tool to make informed financial decisions.

Using the PNB RD calculator on Angel One is quite simple. You need to follow the steps below to use the online PNB RD calculator –

Step 1: Visit the Angel One website and navigate to the PNB RD calculatorpage.

Step 2: Enter the monthly investment for your recurring deposit 

Step 3: Add the investment tenure and the interest rate 

Once you add all the values, the tool will instantly calculate and display the maturity amount and interest rate on your screen. Let’s take an example to understand better.

Suppose Mr. A opens an RD account with PNB and decides to make a monthly deposit of Rs. 2,000 for 2 years. The interest rate offered by the bank stands at 7%. The maturity value of your RD will be Rs. 51,640. The total amount you would have invested will amount to Rs. 48,000, and the estimated returns would be Rs. 3,640.

There are several benefits of using the Angel One PNB RD calculator. Let’s have a look at some of these benefits:

• Easy to use: The PNB RD calculator available on the Angel One platform is quite easy to use. You just need to add the right variables, and the calculator will calculate precise maturity and interest amounts instantly.

• Saves time: An RD calculator is a time-saving instrument. All you need to do is enter the values, and it will perform the calculation in seconds. 

• Accurate results: RD calculators eliminate the need for manual calculations that are prone to errors. The PNB RD calculator can accurately calculate your returns in seconds. 

• Free to use: The online PNB RD calculator on the Angel One website is free to use. You can use it anytime and anywhere without paying anything. 

Several factors can influence your RD returns. Let’s have a look at these factors below:

1. Investment amount: PNB has mandated a minimum amount of Rs. 100 as a recurring deposit instalment. Deciding on the investment amount is important as it will directly impact your earnings. 
2. Tenure: The tenure of a recurring deposit ranges from 6 months to 10 years. Also, once you open an RD account, you cannot change the tenure of the deposit. The longer you keep investing, the higher will be your RD earnings. 

• Interest rates: The interest rates for recurring deposits are fixed by the bank. They are different for RDs with different tenures. Before opening an RD, you must look at the interest rate, as it directly affects your earnings.

• Taxation on interest: The interests earned on an RD are subject to taxes. No taxes will be deducted if your interest earnings are less than Rs. 40,000.