If you deposit ₹ 1,25,000 today in PNB’s FD of 1205 days, how much return will you get? understand calculations

The 1205 days special fixed deposit (FD) scheme of Punjab National Bank i.e. PNB is special for those investors who are looking for great returns along with safe investment. If you are planning to deposit a lump sum amount of ₹ 1,25,000 in this scheme today, then it is very important for you to know how much amount you will get in your hand on maturity. Since PNB is offering different interest rates to its general citizens and senior citizens, the mathematics of returns also changes. We will understand through step-by-step calculations how much interest you will get on your principal after 1205 days and how much your total wealth will increase.

Interest on 1205 days FD of PNB

According to the official website of the bank, PNB is currently offering 6.10 percent interest to general customers on FD scheme with a tenure of 1205 days, while it is offering 6.60 percent interest to senior citizens. Super is giving 6.90 percent interest to senior citizens.

Calculating Returns

If a normal customer deposits Rs 1,25,000 in Punjab National Bank’s FD with a tenure of 1205 days as of today, then according to the PNB FD calculator, you will have a total of Rs 1,52,654 on maturity. That means you will get ₹ 27,654 as return on this. Similarly, if you are a senior citizen (60 years of age or above) and you deposit Rs 1,25,000 in a 1205 day FD of PNB, then according to the calculation, you will get a total of Rs 1,55,155 on maturity. That means you will get Rs 30,155 as return on this deposit. If you are a super senior citizen then you will get a total return of Rs 31,674 on this deposit. That means at the time of maturity you will have ₹ 1,56,674.

Keep these things in mind

Keep in mind, the facility of premature withdrawal of money is usually available in FD, but there may be a penalty associated with it. This penalty reduces the total interest you receive, so it is important to understand this condition before investing. Apart from this, the interest received on FD is completely taxable. TDS can also be deducted by the bank if your income from interest exceeds the prescribed limit in a financial year.