SBI FD vs Post Office FD: Individuals put their money in Fixed Deposits for secure investment and assured returns. Typical investors put their money into fixed deposit schemes offered by banks and post offices. Various kinds of savings plans are being implemented for investment in the post office. In this series, there is a savings plan called Post Office Time Deposit (TD) being offered. This plan is comparable to FD. You can begin investing in Post Office TD with just Rs 1,000. The highest possible investment can be obtained.
Learn how to open a Fixed Deposit (e-FD) online, through your Online SBI account. https://t.co/qszTbwcp6t
— State Bank of India (@TheOfficialSBI) October 3, 2017
Investments can be placed in the Time Deposit Scheme for a duration of 1 to 5 years. If you put Rs 2 lakh in SBI for 5 years, you will earn an interest of Rs 76,084 at a 6.5% rate. By following this method, you will receive a total of Rs 2,76,084 upon maturity. Investing Rs 2 lakh in a post office time deposit for 5 years will yield an interest of Rs 89,990 at a rate of 7.5%. Thus, you will receive a total of Rs 2,89,990 upon maturity.
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SBI FD rates:
7 to 45 days – 3.5 percent
46 to 179 days – 5.5 percent
180 to 210 days – 6.25 percent
211 days to less than 1 year – 6.5 percent
1 year to less than 2 years – 6.8 percent
2 years to less than 3 years – 7 percent
3 years to less than 5 years – 6.75 percent
5 years to 10 years – 6.5 percent
Post Office FD (Time Deposit) rates:
1 year – 6.9 per cent
2 years – 7.0 per cent
3 years – 7.1 per cent
5 years – 7.5 per cent