SBI Vs BoB Vs PNB FD Rates: Which Bank Offers Highest Rates

In 2025, the fixed deposit (FD) interest rates offered by the State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BoB) vary significantly, with each bank providing for different rates based on tenure and customer categories. This comparison shows the competitive environment of FD rates across major public sector banks. This comparison allows investors to make more informed decisions depending on their investment timelines and requirements.

The bank provides interest on deposits under several deposit plans. Interest rates are updated periodically by the banks. Revised interest rates apply solely to renewals and fresh deposits; existing deposits continue to receive interest at the agreed rate.

Here’s a quick comparison of their current FD rates:

State Bank of India (SBI) Fixed Deposit Rates

SBI offers the maximum interest rates on FD tenure of above 2 years to less than 3 years. Under this tenure, the bank provides 7% interest to the public and 7.50% interest to senior citizens. These interest rates are applicable on deposits below Rs 3 Crore.

SBI FD interest rates for deposits below Rs 3 crore w.e.f. May 15, 2024

Tenors	Interest Rates for Public	Interest Rates for Senior Citizen
7 days to 45 days	3.5	4
46 days to 179 days	5.5	6
180 days to 210 days	6.25	6.75
211 days to less than 1 year	6.5	7
1 Year to less than 2 years	6.8	7.3
2 years to less than 3 years	7	7.5
3 years to less than 5 years	6.75	7.25
5 years and up to 10 years	6.5	7.50*

Note: *Including an additional rate of 50 bps under the “SBI We-care” deposit scheme.

SBI introduces a new Deposit Scheme “SBI WECARE’ protecting Senior Citizen’s income by offering additional interest on Term Deposits.

Punjab National Bank (PNB) Fixed Deposit Rates

PNB is one of the 3 biggest government banks in India, offering the highest FD rates on a specific tenure of 400 days. Under this tenure, the bank provides 7.25% interest to the public, 7.75% interest to senior citizens, and 8.05% interest to senior citizens.

PNB FD interest rates for deposits less than Rs 3 crore w.e.f Jan 01, 2025

Period	Interest Rates For Public	Interest Rates for Senior Citizens	Interest Rates for Super Senior Citizens
7 to 14 Days	3.5	4	4.3
15 to 29 Days	3.5	4	4.3
30 to 45 Days	3.5	4	4.3
46 to 60 Days	4.5	5	5.3
61 to 90 Days	4.5	5	5.3
91 to 179 Days	5.5	6	6.3
180 to 270 Days	6.25	6.75	7.05
271 Days to 299 Days	6.5	7	7.3
300 Days	7.05	7.55	7.85
301 Days to 302 Days	6.5	7	7.3
303 Days**	7	7.5	7.8
304 Days to < 1 Years	6.5	7	7.3
1 Year	6.8	7.3	7.6
> 1 Year to 399 days	6.8	7.3	7.6
400 Days	7.25	7.75	8.05
401 Days-505 Days	6.8	7.3	7.6
506 Days**	6.7	7.2	7.5
507 Days to 2 year	6.8	7.3	7.6
> 2 years to 3 years	7	7.5	7.8
> 3 years to 1203 days	6.5	7	7.3
1204 days**	6.4	6.9	7.2
1205 days to 5 years	6.5	7	7.3
> 5 years to 1894 days	6.5	7.3	7.3
1895 days**	6.35	7.15	7.15
1896 days to 10 years	6.5	7.3	7.3

Source: PNB

Note:

*Senior Citizen—Age 60 year and up to < 80 year, #Super Senior Citizen—Age 80 years and above.

**The additional rate of interest applicable on domestic deposits accepted from senior citizens is not applicable for NRO deposits.

**Two buckets of 1204 days & 1895 days have been specifically identified under the PNB Palaash scheme to commemorate Banks’s foundation day, i.e., 12th of April, 1895.

Bank of Baroda (BoB) Fixed Deposit Rates

BoB offers a maximum interest rate of approximately 7.15% for the public, 7.65% for senior citizens, and 7.75% for super senior citizens for tenures above 2 years and up to 3 years.

BoB offers FD interest rates for deposits less than Rs 3 crore w.e.f. Oct 10, 2024

Tenors	Residents / General Public	Resident Indian Sr. Citizen	Resident Super Senior Citizen
7 days to 14 days	4.25	4.75*	4.75*
15 days to 45 days	4.5	5.00*	5.00*
46 days to 90 days	5.5	6.00*	6.00*
91 days to 180 days	5.6	6.10*	6.10*
181 days to 210 days	5.75	6.25*	6.25*
211 days to 270 days	6.25	6.75*	6.75*
271 days & above and less than 1 year	6.5	7.00*	7.00*
1 year	6.85	7.35*	7.35*
Above 1 year to 400 days (except 400 Days)	7	7.50*	7.60 $
Above 400 days and upto 2 Years	7	7.50*	7.60 $
Above 2 Years and upto 3 Years	7.15	7.65*	7.75 $
Above 3 Years and upto 5 Years	6.8	7.40 #	7.50 $
Above 5 Years and upto 10 Years	6.5	7.50**	7.50**
Above 10 years (MACAD) only)	6.25	6.75*	6.75*

Source: BoB

Note:

*incl. Additional ROI 0.50% for RTD up to 3 years and additional ROI 0.50% for above 10 years.

# incl. additional ROI of 0.50+0.10 (reduced from 0.15%) for RTD above 3 years and up to 5 years w.e.f. 14.10.2024.

**incl. an additional ROI of 0.50% + 0.50% for RTD above 5 years and up to 10 years to resident senior citizens.

$ includes 0.10% for Super Senior Citizens for deposits above 1 year and up to 5 years.

Comparison Summary

Bank	Highest FD Rate p.a.	Rate for 1 Year p.a.	Rate for 2 Years p.a.	Rate for 3 Years p.a.	Rate for 5 Years p.a.
SBI	7%	6.80%	7%	6.75%	6.50%
PNB	7.25%	6.80%	6.80%	7%	6.50%
BoB	7.15%	6.85%	7.15%	6.80%	6.50%

Note: The above Interest rates are for the public only, not seniors or senior citizens

Key Highlights

Senior Citizens’ Rates: Most banks provide an additional interest rate for senior citizens, typically between 0.50% and 0.75% higher than standard rates.
Special plans: Curtains banks like SBI and many others have created special plans for extremely elderly folks that provide competitive rates.
Flexible Tenures: Banks such as PNB and BoB have created different tenures, giving clients more alternatives.

In summary, in terms of the highest interest rates, PNB offers a competitive rate of 7.25% for a unique tenure of 400 days, while BoB’s highest rate can go up to approximately 7.15% for above 2 years and up to 3 years, making it potentially the most attractive option if that tenure aligns with your investment plans. SBI, being the largest government bank, provides lower interest rates compared to its counterpart.

Disclaimer: The information is covered based on the latest research and development available. However, it may not fully reflect all the current aspects of the subject matter. Moneydaily.in advises readers to visit the Income Tax Department’s website for further knowledge.