SBI 400-day FD vs PNB 400-day FD: Which PSU bank provides a higher return on Rs 8 lakh one-time investment?
SBI 400 Days FD vs PNB 400 Days FD: Offered by public and private banks, FDs or Fixed Deposits are considered a safe investment option that guarantees returns. These are non-market-linked investments that provide a fixed interest rate for your investment.
But do you know, in addition to general FDs, there are some banks that also offer special FD schemes with higher interest rates? Two popular options are the SBI 400 Days FD and PNB 400 Days FD.
SBI 400 Days FD vs PNB 400 Days FD
So, what interest rates do they offer for general and senior citizens? Let's compare these two FD schemes and calculate the maturity amounts for an investment of Rs 8 lakh.
What is SBI 400 Days FD?
- Special fixed deposit scheme offered by State Bank of India
- tenure is 400 days (approximately 1 year, 1 month, and 5 days)
- Effective from April 12, 2023
- Valid until March 31, 2025
SBI 400 Days FD Interest Rates: General Citizens
- General Citizens: 7.10%
SBI 400 Days FD Interest Rates: Senior Citizens
- Senior Citizens: 7.60%
SBI 400 Days FD: Maturity Amount for Rs 8 Lakh Investment
- For general citizens, the maturity amount will be Rs 8,64,142 on a Rs 8 lakh investment. This includes Rs 64,142 in interest.
SBI 400 Days FD: Maturity Amount for Rs 8 Lakh Investment
- The maturity amount for senior citizens will be Rs 8,68,804, which includes Rs 68,804 in interest.
What is PNB 400 Days FD?
- Special fixed deposit scheme offered by Punjab National Bank
- Tenure is 400 days (approximately 1 year, 1 month, and 5 days)
- Government-owned bank
PNB 400 Days FD Interest Rates: General Citizens
- General Citizens: 7.25%
PNB 400 Days FD Interest Rates: Senior Citizens
- Senior Citizens: 7.75%
PNB 400 Days FD: Maturity Amount for Rs 8 Lakh Investment
- For general citizens, the maturity amount will be Rs 8,65,538, which includes Rs 65,538 in interest.
PNB 400 Days FD: Maturity Amount for Rs 8 Lakh Investment
- For senior citizens, the maturity amount will be Rs 8,70,206 on a Rs 8 lakh investment. This includes Rs 70,206 in interest.