Post Office RD vs SBI RD: Both State Bank of India and Post Office offer the benefit of RD scheme, let us know which one would be best to invest in?
Post Office RD vs SBI RD: Many of us like to invest to secure our tomorrow. Various types of investment plans or methods are adopted. Whereas, they also like to invest in savings schemes.
Apart from this, we also invest money in recurring deposit scheme which can later give us profit through interest. To invest in this, the investor has to open an account. Accounts for RD are opened by other banks including State Bank of India and Post Office.
However, where will there be more profit on investing in RD scheme? We all look for this before investing. If you are also thinking of opening an RD account and want to know where investing will be a profitable deal? So let us tell you about the RD scheme of State Bank of India and Post Office, and where investing will be more beneficial for you? They also know this.
State Bank of India RD Account Interest Rate
Recurring Deposit i.e. RD account is opened by State Bank of India, the benefit of which you can get by investing for a time limit of 1 year to 10 years. At present, the bank is giving more benefits to senior citizens in recurring deposit account. For this, senior citizens are being given the benefit of 0.50 percent more interest. General customers get the benefit of 6.80 percent interest rate for a period of 1 to 2 years. Whereas, senior citizens get the benefit of 7.30 percent interest.
Common people get the benefit of 7.00 percent interest on RD of 2 to 3 years. Whereas, senior citizens get the benefit of 7.50 percent interest rate. For 3 years to 4 years, general people get the benefit of 6.50 percent interest rate and for senior citizens, 7.00 percent interest rate and on RD of 5 years to 10 years, general people get the benefit of 6.50 percent interest rate and for senior citizens, 7.00 percent interest rate.
Post Office RD Account Interest Rate
Recurring deposit account is also opened by the post office to provide the benefit of RD scheme. The investor can invest in this for 5 years. Senior citizens do not get any extra benefit in this scheme. General and senior people get the benefit of 6.5 percent interest rate. Customers can open it as single or joint account.
SBI or Post Office? Whose better RD schemeÂ
The RD scheme of both State Bank of India and Post Office is great and we have told you about both. In such a situation, it would have become easy for you to decide in which investment can be a profitable deal.
