Fixed Deposit, SBI vs PNB: Most people trust government banks more for investing in FD. Investment in fixed deposit (FD) is safe and fixed interest is received. In India, State Bank of India (SBI) and Punjab National Bank (PNB) are among the big banks of the country.
Fixed Deposit, SBI vs PNB: Most people trust government banks more for investing in FD. Investment in fixed deposit (FD) is safe and fixed interest is received. In India, State Bank of India (SBI) and Punjab National Bank (PNB) are among the big banks of the country. They are known for their service and reach in all states and cities. Here we are comparing the interest rates of three-year FD schemes of both the banks. So that, you can fulfill your financial target by choosing the right FD.
SBI and PNB FD interest rates (as of 2024)
SBI FD interest rates (interest on FDs of 3 years to 5 years)
- For general citizens: 6.75%
- For senior citizens: 7.25%
- PNB FD interest rates (for periods of 2 years to 3 years)
- For general citizens: 7%
- For senior citizens: 7.50%
- Super senior citizens (above 80 years): 7.80%
Minimum investment amount
The minimum investment amount for opening an FD in both the banks is Rs 1,000.
Which bank is better in terms of interest, SBI or PNB?
PNB’s FD schemes offer slightly higher interest rates than SBI. PNB’s returns are higher in all categories from general citizens to senior and super senior citizens.
Keep these things in mind while investing
Some FDs charge a penalty for withdrawing money before time. If you are investing in a 3-year FD, then your first priority is to get maximum returns. In such a situation, you can choose SBI or PNB FD as per your need.
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