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

Whenever savings are talked about, the name of Fixed Deposit i.e. FD comes up. Your investment in Fixed Deposit is safe, and you get guaranteed returns. If you also want to invest in FD, then this is useful news for you. Investors need to compare the interest rates of different banks before investing in FD. Let us know the interest rates being offered on FD by the country's 2 big government banks, State Bank of India (SBI) and Punjab National Bank (PNB).

SBI FD rates-
7 to 45 days - 3.5%
46 to 179 days - 5.5%
180 to 210 days - 6.25%
211 days to less than 1 year - 6.5%
1 year to less than 2 years - 6.8%
2 years to less than 3 years - 7%
3 years to less than 5 years - 6.75%
5 years to 10 years - 6.5%

PNB FD rates-
7 to 14 days - 3.5%
15 to 29 days - 3.5%
30 to 45 days - 3.5%
46 to 60 days - 4.5%
61 to 90 days - 4.5%
91 to 179 days - 5.5%
180 to 270 days - 6.25%
271 to 299 Days - 6.5%
300 days - 7.05%
301 days to less than 1 year - 6.50%
1 year - 6.80%
Where will you get more returns on 1 year FD?

In SBI and PNB, common customers are getting 6.80% interest on a year fixed deposit. If you have made an FD of Rs 5 lakh for one year, then you will get Rs 5,34,877 on maturity. In this way, you will earn Rs 34,877 from interest.

Where will you get more returns on 3 year FD?

In SBI, common customers are getting 6.75% annual interest on 3 3-year fixed deposit. If you have deposited Rs 5 lakh for 3 years, then you will get Rs 6,11,196 on maturity. In this way, you will earn Rs 1,11,196 from interest. In PNB, common customers are getting 7 percent annual interest on 3-year fixed deposits. If you have deposited Rs 5 lakh for 3 years, then you will get Rs 6,15,720 on maturity. In this case, you will earn Rs 1,15,720 from interest.