SBI or Post Office: Everyone thinks of investing while thinking about the future. Most people choose the FD i.e. Fixed Deposit option. Guaranteed returns are available on FD (FD Rate). Banks keep updating the interest rates of FD from time to time. Many government and private banks of the country also provide special FD schemes to senior citizens as compared to general customers. In such a situation, today we are going to tell you who is giving more interest on fixed deposits among State Bank of India and the Post Office.
Common investors invest in FD schemes of banks and post offices. Do you know which option among Post Office and SBI FD (SBI FD interest rate) gives a better option to invest in?
SBI FD rates-
7 to 45 days - 3.5%
46 to 179 days - 5.5%
180 to 210 days - 6.25%
211 days to less than 1 year - 6.5%
1 year to less than 2 years - 6.8%
2 years to less than 3 years - 7%
3 years to less than 5 years - 6.75%
5 years to 10 years - 6.5%
Post Office Time Deposit
Many types of savings schemes are being run for investment in the post office. In this series, a savings scheme is being run by the name of Post Office Time Deposit i.e. TD. This scheme is similar to FD. Investment can be started in Post Office TD with only Rs 1,000. The maximum amount can be invested. Investment can be made in the time deposit scheme for 1 year to 5 years. Let us know about the interest rates of time deposits-
Post Office Time Deposit (1 year) - 6.9 percent
Post Office Time Deposit (2 years) - 7.0 percent
Post Office Time Deposit (3 years) - 7.1 percent
Post Office Time Deposit (5 years) - 7.5 percent
Post Office has more benefits than SBI on a 5-year FD / time deposit
If you invest Rs 2 lakh in SBI for 5 years, then you will get an interest of Rs 76,084 at the rate of 6.5 percent. In this way, you will get a total of Rs 2,76,084 on maturity. If you invest Rs 2 lakh in post office time deposit for 5 years, you will get an interest of Rs 89,990 at the rate of 7.5 percent. In this way, you will get a total of Rs 2,89,990 on maturity.
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