Post Office TD vs SBI FD: There are many investment options available in India these days, but there is still a large population of the country who prefers to invest in fixed deposit schemes. Both banks and post offices offer the option of FD schemes to their customers. In the recent past, many banks have increased the interest rates of their FD schemes due to the increase in the repo rate. It also includes the name of State Bank. The bank had increased its interest rates on February 15, 2023. At the same time, the post office also gives the option of time deposit to the customers for a period of 1 to 5 years. In such a situation, if you want to invest in one of the post office time deposit scheme or SBI's FD scheme, then we are giving you information about the interest rates of both.
post office time deposit scheme
The FD scheme of the post office is called the time deposit scheme. According to the information given on the official website of the post office, customers get the facility to invest in FDs for a period of 1 year, 2 years, 3 years and 5 years. Out of this, customers are getting 6.9 percent interest on 1 year, 7.00 percent on 2 years, 7.0 percent on 3 years and 7.5 percent on 5 years. It is worth noting that both post office general and senior citizen customers are getting the benefit of the same rate of interest.
SBI FD Scheme
State Bank of India, the largest public sector bank, is offering customers interest rates on FDs ranging from 7 days to 10 years. General customers will get 3.00% interest on FDs of 7 days to 45 days, 4.50% interest on FDs of 46 days to 179 days, 5.25% interest on FDs of 180 days to 210 days, 5.75% interest on FDs ranging from 211 days to 1 year. Getting rate. At the same time, 6.80 percent on FDs from 1 year to 2 years, 7.00 percent on FDs from 2 to 3 years, 6.50 percent on FDs from 3 years to 5 years and 6.50 percent on FDs from 5 to 10 years. is offering. On the other hand, if we talk about senior citizens, they are being offered 0.50 percent more interest rate by the customers in every period.
Post Office TD vs SBI FD Scheme
Where you can invest money for at least 1 year in the post office, in SBI, customers also get the option of 7 days FD. Normal customers are getting more returns in the post office on FDs ranging from 1 year to 5 years. At the same time, senior citizens are getting more benefits in the bank. In such a situation, according to your age, you can decide to invest in post office or SBI's FD scheme.
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