Many people in India prefer investing in Fixed Deposits (FDs) with government banks because they are safe and offer a fixed interest rate.
The State Bank of India (SBI) and Punjab National Bank (PNB) are two of the biggest banks in India.
In this comparison, we will look at their 3-year FD interest rates to help you choose the best one for your financial goals.
This comparison of their 3-year FD interest rates will help you make a better choice based on your financial goals.
SBI 3-Year FD Interest Rates
For general citizens: 6.75%
For senior citizens: 7.25%
PNB 3-Year FD Interest Rates
For general citizens: 7%
For senior citizens: 7.50%
For super senior citizens (above 80 years): 7.80%
Minimum Investment Amount
Both SBI and PNB require a minimum investment of Rs 1,000 to open an FD.
Which Bank Offers Better Interest Rates?
PNB offers slightly higher interest rates than SBI for general citizens, senior citizens, and super senior citizens.
Things to Keep in Mind When Investing in FDs
Some FDs may charge a penalty for withdrawing money early. When choosing an FD, make sure to pick the bank that offers the best interest rates to meet your needs.
1) Some FDs may charge a penalty if you withdraw the money before the maturity period.
2) If you are planning to invest in a 3-year FD, make sure to choose the bank offering the best returns based on your needs.
