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SBI vs PNB: Where will you get more benefit in one year fixed deposit? Understand the calculation on an FD of Rs.5 lakh.

New Delhi. Whenever there is talk of savings, the name of Fixed Deposit (FD) definitely comes up. Your investment in Fixed Deposit is safe, and you also get guaranteed returns. If you also want to invest in FD then this is useful news for you. It is very important for investors to compare the interest rates of different banks before investing in FD. Let us tell you the interest rates offered on FD by the two largest public sector banks of the country, State Bank of India (SBI) and Punjab National Bank (PNB).

SBIFD Rates-
7 to 45 days – 3.5 percent
46 to 179 days – 5.5 percent
180 to 210 days – 6.25 percent
211 days to less than 1 year – 6.5 percent
1 year to less than 2 years – 6.8 percent
2 years to less than 3 years – 7 percent
3 years to less than 5 years – 6.75 percent
From 5 years to 10 years – 6.5 percent

PNB FD Rates-
7 to 14 days – 3.5 percent
15 to 29 days – 3.5 percent
30 to 45 days – 3.5 percent
46 to 60 days – 4.5 percent
61 to 90 days – 4.5 percent
91 to 179 days – 5.5 percent
180 to 270 days – 6.25 percent
271 to 299 days – 6.5 percent
300 days – 7.05 percent
301 days to less than 1 year – 6.50 percent
1 year – 6.80 percent

Where will you get more return on FD of Rs 5 lakh for 1 year?
General customers in SBI are getting 6.80% interest on one year fixed deposit. If you have invested Rs 5 lakh for one year, you will get Rs 5,34,877 on maturity. Thus you will earn Rs 34,877 from interest. Similarly, in PNB, general customers are getting 6.80 percent interest on one-year fixed deposits. If you have invested Rs 5 lakh for one year, you will get Rs 5,34,877 on maturity. Thus you will earn Rs 34,877 from interest.

Tags: Fixed Deposit, Money making tips, Punjab National Bank, SBI

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