Punjab and Sind Bank FD Calculator

The interest your money will receive when invested in a fixed deposit can be calculated with the use of the online Punjab and Sind Bank FD calculator. The online calculator will provide information about the investment of the depositor. This includes the total amount at maturity after interest has been compounded monthly, quarterly, half-yearly, annually or daily.


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Some Features of Punjab and Sind Bank Fixed Deposit Accounts

The following are some important features of Punjab and Sind Bank Fixed Deposits:

  • Affordable interest rates: The Punjab and Sind Bank fixed deposit offers affordable interest rates. Investing in a Punjab and Sind Bank FD allows depositors to save money on interest rates.
  • Long-repayment period: The Punjab and Sind Bank fixed deposits provide 10-year payback terms. These are flexible and reliable for the depositors.
  • Additional interest rates: Senior citizens and employees of Punjab and Sind Bank enjoy additional interest rates on their fixed deposits.
  • Nomination facilities: The Punjab and Sind Bank offers the facility of nomination to the depositors. Any close friend, relative or apparent heirs can be nominated for the fixed deposit.
  • FD accounts: FD accounts may be opened jointly or individually in the Punjab and Sind Bank. A minor’s name can also be used to open a fixed deposit account in the bank.
  • Net banking facility: Both online and offline methods are available for opening a fixed deposit account with Punjab and Sind Bank.

Benefits of Punjab and Sind Bank Fixed Deposit Interest Calculator

The following are some of the Punjab and Sind Bank FD interest rates calculator’s most noteworthy benefits:

  • Accurate results: The results are calculated accurately and quickly by the calculator. It helps in saving a lot of time for the user.
  • Simple calculation method: The computation method is renowned for being quick and simple. It doesn’t require any manual calculation.
  • Determine your investment goals: The Punjab and Sind Bank FD interest rates calculator is efficient in assisting you in determining your investing goals. It lets you know the total amount that needs to be deposited and the amount you will receive at the time of maturity.
  • Make proper decisions: The Punjab and Sind Bank FD interest rates calculator raises the quality of your financial judgement. It lets you make informed decisions before investing in fixed deposits.
  • Doesn’t require personal information: The calculator doesn’t ask any questions concerning the user’s personal information. It is completely secure for the user.
  • Free services: The calculator is free to use and can be used repeatedly. If you have a reliable internet connection and a smart device, it can be accessed whenever and wherever you are.

How is Punjab and Sind Bank FD Interest Rate Calculated?

Various features are available on fixed deposits from Punjab and Sind Bank, including competitive interest rates. For fixed deposit amounts under 2 crores for ordinary persons, the interest rate offered by Punjab and Sind Bank ranges from 2.80% to 6.25%.

Earning annual interest on your deposited funds is possible when you start investing with a minimum of Rs.1000. You can receive interest on fixed deposits with Punjab and Sind Bank for a minimum of 7 days and a maximum of 10 years.

However, the procedure for calculating interest is somewhat complicated and subject to errors when calculated manually. You may easily calculate the precise maturity amount with the use of an online Punjab and Sind bank FD interest rates calculator.

By using this calculator, you may compare returns for various plans and adjust the fixed deposit rates offered by the Punjab and Sind Bank in accordance with changes in tenure. You can therefore select an appropriate tenure and make investments according to it. The simple interest formula is applied if the investment tenure you choose is less than one year. Otherwise, you can calculate interest using the compound interest formula.

Look at the two formulas:

Simple interest:

M = P+ (PXRXT/100)

The following is represented by the letters in the formula above:

M denotes the maturity amount

P stands for the principal (your initial investment)

R is the annual rate of interest

T stands for period or tenure of investment.

Compound interest:

A = P (r/n + 1) n*t

The amounts received at maturity and the initial investment are denoted in the formula above by the letters A and P, respectively.

The compounding frequency, denoted by the letter N, can occur monthly, quarterly, half-yearly, or annually.

The letter R represents the interest rate of the fixed deposit.

The investment term is indicated by the letter T.

What are Punjab and Sind Bank FD Interest Rates?

The following are the Punjab and Sind Bank FD interest rates for the year 2023:

Tenure or Period of Fixed Deposits

Normal Citizens FD Rate

7 days- 30 days

2.8%

1 month- 1 month 14 days

3%

1 month and 15 days- 2 months and 28 days

4.6%

2 months and 29 days – 5 months and 26 days

4.75%

5 months and 27 days- 11 months and 28 days

6%

11 months and 29 days – 1 year 1 month and 2 days

6.4%

1 year 1 month and 3 days- 1 year 1 month and 3 days

7.1%

1 year 1 month and 4 days- 1 year 6 months and 4 days

6.4%

1 year 6 months and 5 days- 1 year 6 months and 5 days

7.35%

1 year 6 months and 6 days- 1 year 7 months and 19 days

6.4%

1 year 7 months and 20 days – 1 year 7 months and 20 days

7%

1 year 7 months and 21 days- 1 year 11 months and 29 days

6.4%

2 years- 2 years 11 months and 28 days

6.75%

2 years 11 months and 29 days- 9 years 11 months and 27 days

6.25%

Punjab and Sind Bank FD Calculator : FAQs

What is the highest Punjab and Sind Bank FD rate of 2023?

The highest fixed deposit rate of the Punjab and Sind Bank as of 2023 for general citizens is 7.35% per annum and 7.85% per annum for senior citizens.

Is the Punjab and Sind Bank FD calculator reliable to use?

Yes, the Punjab and Sind Bank FD calculator is reliable and gives accurate results.

What is the Punjab and Sind Bank FD minimum deposit amount as of 2023?

As of 2023, the minimum investment in Punjab and Sind Bank fixed deposits is Rs. 1,000. However, there are no restrictions or limits on the maximum amount of an investment in the Punjab and Sind Bank fixed deposits.

How many fixed deposit accounts can be opened in Punjab and Sind Bank?

There is no limit on the number of fixed deposit accounts you can open with Punjab and Sind Bank.