₹2 Lakh FD Returns Over 5 Years: SBI vs PNB vs BoB

Nikhil punse

4 days ago

Fixed Deposit Return Analysis: ₹2 Lakh Investment Over 5 Years 💰

This analysis details the potential returns on a ₹2 lakh Fixed Deposit (FD) with a 5-year tenure across three major banks: SBI, PNB, and BoB, including variations for senior citizens and special schemes.

Individual Bank FD Offerings

Bank	General Public (Interest Rate)	Estimated Maturity Amount	Senior Citizens (Interest Rate)	Estimated Maturity Amount
SBI (State Bank of India)	6.50% p.a.	$\approx ₹ 2, 76, 084$	7.50% p.a.	$\approx ₹ 2, 89, 990$
PNB (Punjab National Bank)	6.50% p.a.	$\approx ₹ 2, 76, 084$	7.00% p.a.	$\approx ₹ 2, 82, 956$
BoB (Bank of Baroda)	6.80% p.a.	$\approx ₹ 2, 80, 188$	7.40% p.a.	$\approx ₹ 2, 88, 570$

Special Schemes Highlights:

SBI’s Amrit Vrishti (444 days) offers a slightly higher rate: 6.60% for general customers and 7.10% for senior citizens, with the latter potentially yielding a maturity of around $₹ 2, 89, 990$ (though for a shorter tenure, which needs clarification on the source data’s maturity amount calculation).
PNB’s 390 Days scheme and BoB’s 444 Days scheme both provide 6.60% for the general public and 7.10% for senior citizens, enhancing returns compared to their standard rates for those specific short periods.

Key Comparative Findings 🧠

Best General Public Return: Bank of Baroda (BoB) offers the highest standard interest rate for general investors at 6.80%, leading to the maximum projected maturity amount of $₹ 2, 80, 188$ .
Best Senior Citizen Return: State Bank of India (SBI) provides the most advantageous returns for senior citizens with an interest rate of 7.50%, resulting in the highest maturity value of $₹ 2, 89, 990$ .
Enhanced Schemes: Special deposit products from PNB and BoB offer boosted rates, particularly beneficial for senior citizens, although these are typically for shorter, promotional tenures.

Final Considerations for Investment 💡

The optimal choice for an FD hinges on the investor’s specific demographic and financial objectives. For non-senior investors aiming to maximize their returns over the full five years, BoB’s 6.80% rate is currently superior. Conversely, senior citizens seeking the maximum interest over this period should consider SBI’s 7.50% offering. It is crucial for all prospective investors to verify the most recent interest rates and terms directly with the banks before finalizing any investment decision.