PNB Housing Finance FD Calculator

• Interest Rate

This is the percentage of returns you get when you book a PNB Housing Finance Fixed Deposit. Remember that interest rates vary according to your choice of tenor and type. 

As a rule of thumb, higher FD interest rates lead to higher earnings. 

• Deposit Amount

The initial amount you invest in a fixed deposit is called the deposit amount. With a larger investment amount, your earnings will be higher and vice versa. 

• Tenor

The duration for which you book a PNB housing finance FD is referred to as the tenor. Usually, the longer the tenor, the more you earn. 

• FD Type

When booking your PNB housing finance FD, you can choose between a cumulative or non-cumulative deposit. These two types offer different payout frequencies. 

You get your payout at maturity when you opt for a cumulative PNB Housing FD. This means you get your interest earnings and your initial investment together when your fixed deposit matures, which is at the end of the tenor. 

However, in the case of a non-cumulative PNB housing finance FD, you get payouts at regular intervals. This could be every month or quarter. It could also be half-yearly or yearly. In this case, you get your interest payout at your chosen interval and the initial investment at maturity. 

With the help of all these factors, the PNB Housing Finance FD calculator computes your earnings. Now that you understand them, here is a detailed view of the formulae that form the crux of FD calculations.

Simple Interest Formula:

M = P + (P x r x t/100)

Here, ‘M’ indicates the maturity amount, ‘P’ stands for the principal deposit amount, ‘r’ for the interest rate and ‘t’ for the tenor of your fixed deposit.

Consider the following example:

• P = ₹1,00,000

• r = 10%

• t = 5 years

Hence, M = 1,00,000 + (1,00,000 x 10 x 5/100)

M = ₹1,50,000

Compound Interest Formula:

M = P + P [(1 + r/100) ^(t) - 1]

Considering the same values, let’s assume the payout frequency to be non-cumulative in the following example:

• P = ₹1,00,000

• r = 10%

• t = 5 years

Hence, M = ₹1,61,000

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