SBI vs PNB For Rs 10 lakh One-Time Investment: Which PSU bank provides a higher return in 400-day FD?

SBI 400 Days FD vs PNB 400 Days FD: For those who consider a safe and guaranteed returns investment, a Fixed Deposit (FD), also referred to as a term deposit, can be a good option. Offered by both public and private banks, non-market-linked investments like FDs offer income certainty and capital protection.

However, many people are unaware that some banks offer special FD schemes with higher interest rates than regular FDs.

Two popular options are the SBI 400 Days FD and PNB 400 Days FD. These FDs have a tenure of 400 days (approximately 1 year, 1 month, and 5 days) and offer attractive returns.

In this article, we’ll compare these two options, look at the interest rates they offer for both general citizens and senior citizens and calculate the maturity amounts for an investment of Rs 10 lakh in each.

What is SBI 400 Days FD?

The SBI 400 Days FD is a special fixed deposit scheme offered by the State Bank of India, with a tenure of 400 days (approximately 1 year, 1 month, and 5 days). The scheme is effective from April 12, 2023, and will remain valid until March 31, 2025.

SBI 400 Days FD Interest Rates:

- General Citizens: 7.10%  
- Senior Citizens: 7.60%  

SBI 400 Days FD: Maturity Amount for Rs 10 Lakh Investment

- For general citizens: The maturity amount on a Rs 10 lakh investment will be Rs 10,80,177, which includes Rs 80,177 in interest.

- For senior citizens: The maturity amount on a Rs 10 lakh investment will be Rs 10,86,005, which includes Rs 86,005 in interest.

What is PNB 400 Days FD?

The PNB 400 Days FD is also a special fixed deposit scheme with a tenure of 400 days (approximately 1 year, 1 month, and 5 days), offered by Punjab National Bank, a government-owned bank.

PNB 400 Days FD Interest Rates:

- General Citizens: 7.25%  
- Senior Citizens: 7.75%  

PNB 400 Days FD: Maturity Amount for Rs 10 Lakh Investment

- For general citizens: The maturity amount on a Rs 10 lakh investment will be Rs 10,81,923, which includes Rs 81,923 in interest.

- For senior citizens: The maturity amount on a Rs 10 lakh investment will be Rs 10,87,758, which includes Rs 87,758 in interest.