FD (Fixed Deposite) is considered the safest for investment. Due to this, the trust of people who do not bear any risk at all is still on FD.
There are many types of investment schemes available in the market, in which the returns are good but the risk is equally high. However, FD (Fixed Deposite) is considered the safest for investment. Due to this, the trust of people who do not bear any risk at all is still on FD.
Many small, big, private and government banks in the country provide the facility of doing FD. Apart from this, the post office i.e. post office also provides the facility of fixed deposit scheme. Which is also very much liked by the people. So let’s know where you will get more benefit from bank or post office?
First let’s talk about Fixed Deposit in SBI (FD in SBI):
State Bank of India (SBI) is offering FD rates for different tenures ranging from 7 days to 10 years depending on the investment requirement. SBI FD interest rates range between 2.9% to 5.5% for general customers. SBI gives 50 bps more to senior citizens on these deposits.
Know what are the interest rates on FD in SBI (less than ₹ 2 crore)
- 7 days to 45 days – 2.9%
- 46 days to 179 days – 3.9%
- 180 days to 210 days – 4.4%
- 211 days to less than 1 year – 4.4%
- 1 year to less than 2 years – 5.1%
- 2 years to less than 3 years – 5.2%
- 3 years to less than 5 years – 5.45%
- 5 years and up to 10 years – 5.5%
Fixed Deposit Scheme of Post Office:
On the other hand, if we talk about Fixed Deposit Scheme of Post Office, then they offer FD for a period ranging from one year to five years. Like bank FDs, investors can earn guaranteed returns during the tenure of the post office term deposit.
What are the interest rates on FD in Post Office
- 1 year – 5.5%
- 2 years – 5.5%
- 3 years – 5.5%
- 5 years – 6.7%
