Fixed Deposits (FDs) remain a reliable choice for those seeking stability and guaranteed returns in an ever-changing financial landscape. Among India’s top banking options, State Bank of India (SBI) and Punjab National Bank (PNB) are renowned for their wide reach and customer-centric services. This guide compares interest rates for three-year FDs of both banks, helping you make an informed decision.
Whether you are a risk-averse investor or a senior citizen aiming to maximize returns, understanding these options can play a key role in formulating your financial strategy.
While evaluating FDs with 3-year tenure in SBI and PNB, key factors such as interest rates offered, minimum deposit requirements and additional features like penalty for premature withdrawal must be compared. These details can help you choose the option that best aligns with your financial goals and needs.
SBI and PNB FD Interest Rates (as per latest data)
Interest rates on retail domestic term deposits (below Rs. 3 crore)
SBI FD Interest Rate 2024
For 3-year maturity FDs, State Bank of India offers a tenure of 3 to 5 years.
Interest rate for FDs with tenor less than 3 years to 5 years
- For general public – 6.75%
- For Senior Citizens – 7.25%
PNB FD Interest Rate 2024
Punjab National Bank has different tenure for 3 year maturity FD.
Interest rates on retail domestic term deposits (below Rs. 3 crore)
> 2 years to 3 years FD interest rate
- General public – 7%
- Senior Citizen – 7.50%
- Super Senior Citizen – 7.80%
Minimum amount for FD in SBI and PNB
The minimum amount to invest in SBI and PNB FDs is Rs 1,000.
Which bank offers better returns?
PNB offers slightly higher interest rates than SBI for both regular and senior citizens for three-year FDs. However, it is important to check the latest rates directly with the banks, as they may change based on policy updates. Additionally, assess your financial priorities—such as flexibility or additional features—to decide which bank’s FD aligns better with your needs.