Best Fixed Deposit: SBI and PNB are giving best interest on three year FD, check the rates

Jyoti — Thu, 21 Nov 2024 09:28:57 +0000

Fixed Deposit SBI vs PNB : Most people trust government banks to invest 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 achieve 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 tenures of 2 years to 3 years)

For general citizens: 7%

For Senior Citizens: 7.50%

Super Senior Citizen (above 80 years): 7.80%

Minimum investment amount

The minimum investment amount to open 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.

Be sure to keep these things in mind while investing

Some FDs charge a penalty for premature withdrawal. If you are investing in a 3-year FD, then your first priority is to get maximum returns. In such a case, you can choose SBI or PNB FD as per your need.

Best Fixed Deposit: Opportunity to earn on Fixed Deposit! Will get 7% return in less than 1 year, know full details

Pravesh Maurya — Wed, 18 Jan 2023 05:28:55 +0000

There was a time when due to non-availability of good returns on FDs, people had lost a little interest in this direction. But for some time, banks have increased the interest rate on Fixed Deposits strongly.

After which the customers are once again showing their interest towards this safe investment. Let us tell you that Bank of Maharashtra (BoM) on Tuesday announced an increase in interest rates on fixed deposits of less than Rs 2 crore.

According to the official website of the bank, the new rates are effective till January 16, 2023. After the change, the bank is now offering an interest rate of 2.75% to 5.75% on deposits maturing in the next 7 days to 5 years. The bank is now offering a maximum interest rate of 7 per cent on deposits with a tenure of 200 days.

Bank of Maharashtra FD Rates

The bank will continue to offer an interest rate of 2.75% on deposits maturing for 7 to 30 days, while Bank of Maharashtra (BoM) will continue to offer an interest rate of 3% on deposits maturing for 31 to 45 days. On deposits maturing in 46 to 90 days, Bank of Maharashtra (BoM) is offering an interest rate of 3.50%. While the bank has increased the interest rate on deposits maturing in 91 to 119 days to 4.50%.

Deposits maturing in 120 to 180 days will now fetch 4.75% interest, while those maturing in 181 to 270 days will now fetch 5.25%. The Bank will continue to offer an interest rate of 5.50% on deposits maturing in 271 days to 364 days. Will continue to offer an interest rate of 6.15% on deposits maturing in 365 days to one year.

7% return will be available in less than 1 year

Bank has introduced a new deposit scheme of 200 days. On which it is offering a maximum interest rate of 7% and on 400 days (Maha Dhanvarsha) plan, the bank is now offering an interest rate of 6.75% on deposits up to ₹10 crore.