Fixed deposits (FDs) can be a safe and lucrative investment option, offering interest for a fixed period. This article compares the 3-year FD schemes of two major government banks in India, State Bank of India (SBI) and Punjab National Bank (PNB). SBI offers interest rates up to 7.25% for 3-year FDs, with ordinary citizens earning 6.75% and senior citizens earning 7.25%. PNB offers 7% interest to general citizens and 7.50% to senior citizens for 2-3 year FDs, with super senior citizens (above 80 years) earning 7.80%. For a 3-year FD, both banks offer good returns, but PNB’s scheme may be more beneficial for super senior citizens. SBI also provides good returns, especially for senior citizens, with an interest rate of 7.25%. Ultimately, the choice between the two banks depends on individual circumstances and preferences.
Source: https://mediahousepress.co.in/sbi-vs-pnb-who-is-giving-higher-returns-on-3-year-fixed-deposit/1325/