Use PNB Housing Fixed Deposit calculator for retirement

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Adam
Apr 28, 2021
Finance

Check PNB Housing Fixed Deposit Calculator Before Planning Your Retirement

Fixed deposits are one of the most flexible financial instruments for investment. Since time immemorial, investors have preferred fixed deposits for the following reasons:

  • No upper limit to the investment amount
  • Easy application process
  • Simple withdrawal process
  • High interest rates
  • Flexible tenure
  • Assured returns
  • No eligibility criteria
  • Auto-renewal on maturity
  • Loan against FD facility
  • Tax benefits

Probably nothing can beat a fixed deposit account when it comes to saving for the golden years - the retirement. And when you have PNB Housing by your side, getting the best FD rates is simple. 

As an added advantage, you may use the free fixed deposit calculator for deciding the amount required to lead a fulfilling post-retirement life.

What is a Fixed Deposit Calculator and How to Use It?

A fixed deposit calculator, such as the PNB Housing FD calculator, is what intelligent investors use before opening a fixed deposit account. It gives you a complete idea of the return from the investment you can expect.

To get accurate estimates of the return, you need to open the PNB Housing fixed deposit calculator and enter the following details:

  • Customer Type - You can either apply as a new customer, an existing customer, or a senior citizen. Senior citizen fixed deposit interest rates are usually 0.25% to 0.50% higher than the prevailing best FD rates.
  • Investment Amount - The investment amount determines the returns. The minimum amount required to open a fixed deposit account is INR 10,000. However, there is no upper limit to how much you can invest.
  • Tenor - Tenor is the duration of your investment. You can invest in a fixed deposit account for one year up to ten years. If you want to get the best FD rates, consider investing in a ten-year cumulative fixed deposit.
  • Account Type - A fixed deposit account can be cumulative or non-cumulative. In a cumulative FD account, your investment amount remains locked in until maturity. In a non-cumulative account, you can receive the interest periodically. You may choose among monthly, quarterly, half-yearly, and annual interest payout frequencies.

The interest rate of cumulative and non-cumulative fixed deposit accounts varies widely. The cumulative fixed deposit rate is calculated as the 'yield to maturity.' For example, if you invest in a ten-year cumulative FD at an interest rate of 6.70%, the yield to maturity will be 9.13%. 

However, in the case of a non-cumulative fixed deposit account, the yield to maturity and interest rate remains the same.

Hence, a fixed deposit calculator will be the best place to go when you want to decode the best FD rates.

Why is PNB Housing Fixed Deposit Calculator Special?

PNB Housing fixed deposits have been the most trusted choice for millions of Indian investors. The company has a legacy of over thirty years and a strong financial profile. You can use the FD calculator anytime you want and open a fixed deposit account with the best rates.

The following are the benefits of using the PNB Housing fixed deposit calculator:

  • The FD calculator is available for free on the PNB Housing website.
  • You can get accurate information about the returns, helping you in planning your retirement better.
  • Choose your customer category accurately and observe the difference in interest rates.
  • Check the interest amount of a non-cumulative FD.
  • Check the total payout on maturity for a cumulative FD.
  • Modify the tenor to readjust the returns.

Conclusion

A free fixed deposit calculator from PNB Housing is all you need to plan your retirement conveniently. You may also directly go to the investment page after calculating and start saving for a golden post-retirement life.