The article discusses the fixed deposit (FD) interest rates offered by two of India’s largest government banks, State Bank of India (SBI) and Punjab National Bank (PNB). The FD is a safe investment option that provides guaranteed returns.
SBI offers the following FD interest rates:
* 7 to 45 days: 3.5%
* 46 to 179 days: 5.5%
* 180 to 210 days: 6.25%
* 211 days to less than 1 year: 6.5%
* 1 year to less than 2 years: 6.8%
* 2 years to less than 3 years: 7%
* 3 years to less than 5 years: 6.75%
* 5 years to 10 years: 6.5%
PNB, on the other hand, offers the following FD interest rates:
* 7 to 14 days: 3.5%
* 15 to 29 days: 3.5%
* 30 to 45 days: 3.5%
* 46 to 60 days: 4.5%
* 61 to 90 days: 4.5%
* 91 to 179 days: 5.5%
* 180 to 270 days: 6.25%
* 271 to 299 days: 6.5%
* 300 days to less than 1 year: 6.5%
* 1 year: 6.8%
The article notes that both banks offer a 6.80% interest rate on a 1-year fixed deposit, which means that investors can earn an interest of Rs. 34,877 on a deposit of Rs. 5 lakh. Similarly, both banks offer a 6.75% interest rate on a 3-year fixed deposit, which means that investors can earn an interest of Rs. 1,11,196 on a deposit of Rs. 5 lakh in SBI, and Rs. 1,15,720 in PNB.
The article concludes by advising investors to verify the latest rates and terms with the respective banks before making any financial decisions.