PNB Vs BoB 400-day FD: Check Maturity Amounts For ₹2-6 Lakh Investments
For those seeking a secure and stable investment, fixed deposits (FDs) remain a preferred choice. Public sector banks frequently introduce special FD schemes with attractive interest rates for different tenures. Two such options currently available are Punjab National Bank’s (PNB) 400-day FD and Bank of Baroda’s (BoB) Utsav 400-day FD. Both offer competitive interest rates for general investors and senior citizens. But which of the two can yield better returns on your investment? This article compares their interest rates and maturity amounts to help you make an informed decision.
PNB 400-Day FD: Interest Rates and Returns
Punjab National Bank’s 400-day FD scheme offers an interest rate of 7.25% per annum for general investors. This makes it an appealing option for those looking to park their funds for just over a year.
For a principal investment of ₹2 lakh, the maturity amount at the end of 400 days would be approximately ₹2,16,621. Similarly, if you invest ₹4 lakh, the amount will grow to ₹4,33,243, and for ₹6 lakh, the final corpus would be ₹6,49,864.
Higher Interest Rates for Senior Citizens
Senior citizens often receive preferential rates on FDs, and PNB offers 7.75% per annum for those above 60 years. This ensures better returns for retirees who rely on fixed-income instruments.
With this enhanced rate, a ₹2 lakh investment would grow to ₹2,17,806 in 400 days. For ₹4 lakh, the maturity amount would be ₹4,35,612, and for ₹6 lakh, the final amount would be ₹6,53,418.
BoB Utsav 400-Day FD: Interest Rates and Returns
Bank of Baroda’s Utsav FD scheme, designed for 400 days, provides a 7.30% per annum interest rate for general investors, slightly higher than PNB’s offering.
For a ₹2 lakh investment, the maturity amount would be ₹2,16,740 at the end of 400 days. A ₹4 lakh investment would grow to ₹4,33,479, and a ₹6 lakh deposit would yield ₹6,50,219.
Higher Interest Rates for Senior Citizens in BoB Utsav FD
Senior citizens investing in BoB’s Utsav FD benefit from an interest rate of 7.80% per annum, which is slightly higher than PNB’s senior citizen rate.
With this rate, a ₹2 lakh investment would mature to ₹2,17,925, while ₹4 lakh would amount to ₹4,35,850, and ₹6 lakh would grow to ₹6,53,774.
PNB 400-Day FD: Interest Rates and Returns
Punjab National Bank’s 400-day FD scheme offers an interest rate of 7.25% per annum for general investors. This makes it an appealing option for those looking to park their funds for just over a year.
For a principal investment of ₹2 lakh, the maturity amount at the end of 400 days would be approximately ₹2,16,621. Similarly, if you invest ₹4 lakh, the amount will grow to ₹4,33,243, and for ₹6 lakh, the final corpus would be ₹6,49,864.
Higher Interest Rates for Senior Citizens
Senior citizens often receive preferential rates on FDs, and PNB offers 7.75% per annum for those above 60 years. This ensures better returns for retirees who rely on fixed-income instruments.
With this enhanced rate, a ₹2 lakh investment would grow to ₹2,17,806 in 400 days. For ₹4 lakh, the maturity amount would be ₹4,35,612, and for ₹6 lakh, the final amount would be ₹6,53,418.
BoB Utsav 400-Day FD: Interest Rates and Returns
Bank of Baroda’s Utsav FD scheme, designed for 400 days, provides a 7.30% per annum interest rate for general investors, slightly higher than PNB’s offering.
For a ₹2 lakh investment, the maturity amount would be ₹2,16,740 at the end of 400 days. A ₹4 lakh investment would grow to ₹4,33,479, and a ₹6 lakh deposit would yield ₹6,50,219.
Higher Interest Rates for Senior Citizens in BoB Utsav FD
Senior citizens investing in BoB’s Utsav FD benefit from an interest rate of 7.80% per annum, which is slightly higher than PNB’s senior citizen rate.
With this rate, a ₹2 lakh investment would mature to ₹2,17,925, while ₹4 lakh would amount to ₹4,35,850, and ₹6 lakh would grow to ₹6,53,774.
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