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SBI FD vs PNB FD vs BOB FD: Which bank offers highest return on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments in 5 years?
- Written by ZeeBiz WebTeam
Published: Zee Business| Updated: Zee Business
SBI vs PNB vs BoB 5-year FD: A Fixed Deposit (FD) is a secure investment option that offers guaranteed returns, making it a popular choice across all age groups. You can invest in an FD for a tenure ranging from 7 days to 10 years. Public sector banks like State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) provide a variety of FD schemes. With FDs, you invest a lump sum for a fixed period and earn interest, which is generally higher than savings accounts. Depending on your preference, you can receive interest payouts on a monthly, quarterly, or half-yearly basis.
In this article, we compare the returns offered by SBI, PNB, and BoB on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments for a five-year tenure to help you make an informed decision.
Image: Pixabay, Freepik, Unsplash
(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
1/10
Why to opt for FD?
1/10A fixed deposit (FD) is a safe investment option that offers guaranteed returns, higher interest than savings accounts, and zero market risk, making it ideal for long-term savings.
2/10
Benefits of FD
2/10
Guaranteed returns with fixed interest rates
Higher interest than savings accounts
Flexible tenure from 7 days to 10 years
Loan facility available against FD
Tax benefits under Section 80C for 5-year tax-saving FDs
Additional interest benefits for senior citizens
3/10
When to start FD?
3/10The best time to start an FD is when you have surplus funds that you don’t need immediately. It is ideal during high-interest rate periods for better returns.
4/10
SBI 5-year FD rate
4/10SBI offers 6.50 per cent interest on a 5-year FD for general citizens, while senior citizens get 7.50 per cent.
5/10
BoB 5-year FD rate
5/10Bank of Baroda provides 6.80 per cent interest on a 5-year FD for general citizens, with senior citizens earning 7.40 per cent.
6/10
PNB 5-year FD rate
6/10Punjab National Bank gives 6.50 per cent interest on a 5-year FD for general citizens, with senior citizens getting 7.00 per cent.
7/10
SBI vs PNB vs BoB: Interest rate comparison
7/10- For general citizens, Bank of Baroda offers the highest rate at 6.80 per cent, while SBI and PNB both offer 6.50 per cent. - For senior citizens, SBI provides the highest rate at 7.50 per cent, followed by Bank of Baroda at 7.40 per cent and PNB at 7.00 per cent.
8/10
SBI 5-year FD: Maturity on Rs 3 lakh, Rs 6 lakh, and 9 Lakh investments
8/10On an investment of Rs 3 lakh, the estimated maturity value is Rs 4,14,125.93, with interest earned at Rs 1,14,125.93.
On an investment of Rs 6 lakh, the estimated maturity value is Rs 8,28,251.86, generating interest of Rs 2,28,251.86.
On an investment of Rs 9 lakh, the estimated maturity value is Rs 12,42,377.80, with total interest earned at Rs 3,42,377.80.
9/10
BoB 5-year FD: Maturity on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments
9/10On an investment of Rs 9 lakh, the estimated maturity value is Rs 12,60,844.61, with interest earned at Rs 3,60,844.61.
On an investment of Rs 6 lakh, the estimated maturity value is Rs 8,40,563.08, generating interest of Rs 2,40,563.08.
On an investment of Rs 3 lakh, the estimated maturity value is Rs 4,20,281.54, with total interest earned at Rs 1,20,281.54.
10/10
PNB 5-year FD: Maturity on Rs 3 lakh, Rs 6 lakh, and Rs 9 lakh investments
10/10On an investment of Rs 3 lakh, the estimated maturity value is Rs 4,14,125.93, with interest earned at Rs 1,14,125.93.
On an investment of Rs 6 lakh, the estimated maturity value is Rs 8,28,251.86, generating interest of Rs 2,28,251.86.
On an investment of Rs 9 lakh, the estimated maturity value is Rs 12,42,377.80, with total interest earned at Rs 3,42,377.80.
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