1. What is PNB Savings Account Quarterly Interest?

PNB (Punjab National Bank) savings account quarterly interest is calculated based on the minimum balance maintained in the account and the annual interest rate. The interest is credited to the account every quarter.

2. How Does the Calculator Work?

The calculator uses the PNB quarterly interest formula:

Where:

• \( Minimum\ Balance \) — Quarterly minimum balance maintained in the account (INR)
• \( r \) — Annual interest rate (percentage)

Explanation: The formula calculates the quarterly interest by taking the minimum balance, applying the annual interest rate, and dividing by 4 to get the quarterly amount.

3. Importance of Quarterly Interest Calculation

Details: Calculating quarterly interest helps account holders understand their earnings, plan finances, and ensure they are receiving the correct interest amount from the bank.

4. Using the Calculator

Tips: Enter the quarterly minimum balance in INR and the annual interest rate in percentage. Both values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: How often is interest credited in PNB savings accounts?
A: Interest is credited quarterly in PNB savings accounts.

Q2: What is the current interest rate for PNB savings accounts?
A: Interest rates may vary. Please check with PNB for the current rates applicable to your account type.

Q3: Is the minimum balance requirement the same for all PNB savings accounts?
A: No, minimum balance requirements vary depending on the type of savings account and location.

Q4: How is the minimum balance calculated for quarterly interest?
A: The minimum balance is typically the lowest balance maintained in the account during the quarter.

Q5: Are there any charges for not maintaining minimum balance?
A: Yes, PNB may charge penalties if the minimum balance is not maintained as per account terms.