SBI vs PNB 400 Days FD: The two largest public sector banks of the country are offering attractive interest on their FDs. The 400 days FD of both is quite popular. But understand which bank’s FD is getting the highest interest and how much money will the investment start with.
SBI vs PNB 400 Days FD: Generally, investing in fixed deposits is considered the safest. This is the most popular way to get risk-free fixed returns. All the banks of the country run fixed deposit schemes. Out of these banks, both State Bank of India (SBI) and Punjab National Bank (PNB) are very famous for their fixed deposit schemes. Both the banks have many fixed deposit schemes available for different periods. But the 400 days fixed deposit scheme of both the banks is quite popular. What is the difference between the 400 days fixed deposit scheme of PNB and SBI… Let’s understand.
SBI FD 400 days
Usually, SBI offers interest on fixed deposits ranging from 7.10 percent for regular customers to 7.60 percent for senior citizens for a period of less than 1 year to 2 years. SBI’s special 400 days Amrit Kalash Yojana Fix Deposit is offering attractive interest. The bank is offering interest at the rate of 7.10 percent on FDs with a special period of 400 days. At the same time, senior citizens will get interest at the rate of 7.60 percent. The deadline to invest in this special FD is March 31, 2025.
Punjab National Bank Fixed Deposit
Punjab National Bank is offering interest at the rate of 7.25 percent to regular customers and 7.75 percent to senior citizens and 8.05 percent to super senior citizens (80 years and above) on 400 days fixed deposit.
Where is the highest interest being received?
When it comes to returns, PNB is offering slightly higher interest than SBI for a period of 400 days, including for senior citizens. However, FD rates keep changing.
Tax on returns
Both SBI and PNB require a minimum deposit of Rs 1,000 to open an FD. If you withdraw your FD before maturity, both banks charge a penalty. This reduces the interest rate. However, both banks allow customers to take a loan against their FD if needed. Interest earned on FDs is subject to TDS. If the interest in a financial year exceeds Rs 40,000 or Rs 50,000 for senior citizens, TDS will be deducted.
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