SBI vs PNB FD rates: How much will Rs 1, 3 & 5 lakh grow in 3 years

New Delhi: Currently, Punjab National Bank’s fixed deposit (FD) interest rates on three years tenure are higher than that given by the largest public sector lender of the country, State Bank of India (SBI). PNB FD interest rates for 3 years are 7 per cent for general citizens and 7.50 per cent for senior citizens. While, SBI FD rates for 3 years are 6.75 per cent for general depositors and 7.25 per cent for people of age 60 years and above. Using SBI and PNB FD interest rates calculators, let’s see how much corpus one can generate with principal amounts of Rs 1 lakh, Rs 3 lakh and Rs 5 lakh on 3 years term deposits in case of both these banks.

PNB FD interest rates calculator  (general citizens@7.00%)

As can be seen from the table, a principal of Rs 1 lakh would become Rs 1,23,144 in 3 years if general citizens book a time deposit with PNB. While, Rs 3 lakh becomes Rs 3,69,432 in three years time period. And, Rs 5 lakh becomes Rs 6,15,720 within the same time period.

PNB FD Calculator  (senior citizens@7.50%)

A principal amount of Rs 1 lakh becomes Rs 1,24,972 at the rate of 7.50 per cent if senior citizens open term deposits with PNB for 3 years. While, Rs 3 lakh becomes Rs 3,74,915 in three years in time deposits opened with the public lender. And, Rs 5 lakh becomes Rs 6,24,858 for senior citizens within the same time period.

SBI Maturity Value Calculator  (general citizens@6.5%)

As can be seen here, using SBI FD Calculator we find that if a general citizen open a time deposit with SBI with a capital of Rs 1 lakh, then the individual would get Rs 1,22,059 after thee years . Likewise, Rs 5 lakh would grow up to be Rs 6,10,295 at the rate of 6.75 per cent interest if general citizens open a time deposit with SBI.

SBI FD Calculator (senior citizens@7.25%)

If a senior citizen opens a time deposit of three years period with the country’s largest lender, then, Rs 1 lakh capital put would get total interest of 23,872 on maturity. While, Rs 3 lakh principal becomes Rs 371616 in three years.

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