In order to attract new customers, many banks have increased their FD interest rates in recent weeks. From an average of 5 per cent about 10 months ago, FD rates have gone up to over 7 per cent.
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SBI and Post Office FD Interest Rate: All the big banks of the country give customers the option of opening FDs. In order to attract new customers, many banks have increased their FD interest rates in recent weeks. From an average of 5 per cent about 10 months ago, FD rates have gone up to over 7 per cent. recently state Bank of India (SBI), HDFC Bank were among the banks to increase their FD interest rates. Apart from banks, post office time deposits are also considered a safe option for FDs. Quarterly revision has been done in the interest rates of Post Office Time Deposit.
Post office FD schemes are similar to bank FDs. Post offices offer fixed deposits ranging from one year to five years. Like bank FDs, investors earn guaranteed returns during the tenure of the post office term deposit. Offers an interest rate of 6.6% for one year fixed deposits. The post office offers an interest rate of 7% for a five-year FD account. These rates are effective from 1 January 2023.
latest post office FD interest rates
- 6.6 on 1 year FD
- 6.8 on 2 year FD
- 6.9 on 3 year FD
- 7.0 on 5 year FD
Latest SBI FD Interest Rates
General customers will get 3% to 7.1% interest on SBI FD between 7 days to 10 years. Senior citizens will get an additional 50 basis points (bps) on these FDs. These rates are effective from 15 February 2023.
- 7 days to 45 days FD – 3%
- 46 days to 179 days FD – 4.5%
- 180 days to 210 days FD – 5.25%
- 211 days to less than 1 year on FD – 5.75%
- FDs of 1 year to less than 2 years – 6.8%
- -7.10% on FD for 400 days (Amrit Kalash)
- 2 years to less than 3 years on FD – 7.00%
- 3 years to less than 5 years on FD – 6.5%
- On FDs up to 5 years and 10 years – 6.5%
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