Fixed Deposit is the safest investment option for people in India. Investors can invest in these term deposits for short term as well as for long term.
Fixed Deposit is the safest investment option for the people in India.
Fixed Deposit It is the safest investment option for the people in India. Investors can invest in these term deposits for short term as well as for long term. Depending on your needs, you FD You can choose the duration of. Apart from banks, Post Office Also introduce FD scheme. When we compare the FDs of the country’s largest bank State Bank of India and the post office for a period of five years, the difference between the two comes to 0.6 per cent.
On the other hand, where the interest rates on SBI’s fixed deposits are 6.10 percent. At the same time, the post office term deposit scheme ie FD is getting interest at the rate of 6.7 percent. That is, the interest on FD in the post office is higher than that of SBI. Interest rates on post office FDs have come into effect from October 1, 2022. Let us once compare FD interest rates in SBI and Post Office.
Interest rates on FD in SBI
- 7 to 45 days – 3.00 percent
- 46 to 179 days – 4.50%
- 180 to 210 days – 5.25 percent
- 211 to less than 1 year – 5.50 percent
- 1 year to less than 2 years – 6.10 percent
- 2 years to less than 3 years – 6.25 percent
- 3 years to less than 5 years – 6.10 percent
- 5 years to less than 10 years – 6.10 percent
Interest rates on post office time deposits
- Account with tenure of 1 year – 5.5 percent
- Account with a tenure of 2 years – 5.7 percent
- Account with tenure of 3 years – 5.8%
- Account with a tenure of 5 years – 6.7 per cent
Let us tell you that now you can open FD account online in post office sitting at home. For this you will not even need to go to the post office. Because like the bank, the post office also gives you the facility of fixed deposit scheme for one year, two years, three years and five years. Fixed deposit of post office is called time deposit. Interest is paid on an annual basis in post office fixed deposits, but is calculated on a quarterly basis.
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