Even today, Fixed Deposit (FD) is considered to be the most reliable option in India to keep your hard-earned money safe and get good returns on it. But when it comes to choosing a bank, people often get confused as to which of the big government banks of the country will give the highest profits? Today we will talk about 3 big government banks of the country and tell you which bank’s FD will get the highest fixed interest on depositing Rs 1 lakh?
Canara Bank
Canara Bank is offering attractive interest on 555 day special FD scheme. 6.50% for general customers, 7.00% for senior citizens and 7.10% for super senior citizens (80+). If a person under 60 years of age deposits Rs 1 lakh for 5 years, then on maturity he will get around Rs 1,38,042. That means fixed interest of Rs 38,042. Whereas senior citizens can get Rs 1,41,478, which includes interest of Rs 41,478.
state Bank of India
The country’s largest government bank SBI is also offering excellent interest. On 5 year FD, general citizen is paying 6.05%, senior citizen is paying 7.05% and super senior citizen is paying 7.15% fixed interest. If a super senior citizen deposits Rs 1 lakh for 5 years, he will get approximately Rs 1,42,524 on maturity. That means fixed interest of Rs 42,524, which is the highest in this comparison. Senior citizens can get interest of around Rs 41,826 and ordinary citizens can get interest of around Rs 35,018.
Punjab National Bank
Punjab National Bank (PNB) has given good interest rates on 444 day special FD. General customer is getting interest rate of 6.60%, senior citizen is getting 7.10% and super senior citizen is getting 7.40% interest rate. By depositing Rs 1 lakh for 5 years, an average customer can get more than Rs 38,723 in interest. Senior citizens can benefit up to Rs 42,175 and super senior citizens can benefit up to Rs 44,285.
In which bank will you get the highest interest?
If we talk about long term FD i.e. 5 years, then SBI is giving the highest returns for super senior citizens. Whereas Canara Bank is a good option for 555 days FD. PNB is offering better interest for shorter tenure, but the total interest amount will be less depending on the tenure.
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